Common use of ADDITIONAL PERCENTAGE OF OWNERSHIP AND SCHEDULE Clause in Contracts

ADDITIONAL PERCENTAGE OF OWNERSHIP AND SCHEDULE. In the event that Brancher has not sold and Lennox has not purchased at least 74% of Ets. Brancher by the end of calendar year 2005, Lennox will acquire sufficient additional ownership of the Ets. Brancher to allow the percentage then owned by Lennox to equal 74%. Further, in the event that Brancher has not sold and Lennox has not purchased all the remaining ownership of Ets. Brancher by the end of calendar year 2006, Lennox will acquire all the remaining ownership of the Ets. Brancher. These purchases may be accelerated as described below.

Appears in 2 contracts

Sources: Venture Agreement (Lennox International Inc), Letter of Intent (Lennox International Inc)