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Originally Posted by M&M Guy
In Illinois, when the provision is used, that is exactly what happens. As Jeff mentioned, it's only available for tournaments and shootouts if the rule is agreed upon ahead of time. Then, once a team is ahead by (I believe) 40 pts. at any point in the 4th qtr., the clock then runs except for TO's and injury situations. Even if the other team manages to catch up, the clock continues to run. I was also told if, in the miraculous situation the other team comes back and we go to overtime, there would be a running clock in the OT as well.
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Time-out, injury, DQ's, techincal fouls, and officials timeout stop the clock. Also, you are correct, if OT happens, running clock in OT.