Common use of Upset Provision Clause in Contracts

Upset Provision. After Closing is properly called pursuant to Section 1.2, O.A.K. shall have the right to terminate this Plan of Merger upon written notice to Chemical if the Upset Condition then exists. 2.7.1 The "Upset Condition" shall have occurred if both of the following conditions exist: (a) The Final Chemical Price is less than $18.98 (the "Floor Chemical Price"); and (b) The number determined by dividing the Final Chemical Price by $23.73 (the "Initial Chemical Price") is less than the number obtained by subtracting (i) 0.20 from (ii) the quotient obtained by dividing the Final Index Price by the Initial Index Price.