Common use of Passage of Time Clause in Contracts

Passage of Time. By either Z-Tel or Touch 1 in the event that the --------------- Effective Time has not occurred, or it has become highly likely that the Effective Time will not occur, or it is the case that any of the conditions precedent to the obligations of such party to consummate the Merger is highly unlikely to be satisfied or fulfilled on or before May 31, 2000; provided, however, that the right to terminate this Agreement pursuant to this paragraph will not be available to any party whose breach of its obligations under this Agreement has been the cause of or resulted in the failure of the Effective Time to occur or a condition to be satisfied on or before such date.