Common use of Management of the Business of the Company Clause in Contracts

Management of the Business of the Company. The Stockholder (i) acknowledges and agrees that Parent, by virtue of its majority ownership of the capital stock of the Company, controls the management of the business and affairs of the Company (including with respect to any sale or initial public offering of the Company), (ii) acknowledges and agrees that Parent shall not be liable to the Stockholder for any action taken in connection with its management of the business and affairs of the Company and (iii) hereby irrevocably waives, to the fullest extent permitted by law, any and all rights, claims or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the Stockholder, whether arising from Parent’s and the Stockholder’s ownership of capital stock of the Company or otherwise. The Stockholder acknowledges and agrees that Xxxxxx’s practice has been to borrow money from the Company on a regular basis on terms previously disclosed to the Stockholder. Without limiting the generality of the foregoing, the Stockholder acknowledges and agrees that the Stockholder has no rights, claims, or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the extent that the Parent continues such practice.

Management of the Business of the Company. The Stockholder (i) acknowledges and agrees that Parent, by virtue of its majority ownership of the capital stock of the Company, controls the management of the business and affairs of the Company (including with respect to any sale or initial public offering of the Company), (ii) acknowledges and agrees that Parent shall not be liable to the Stockholder for any action taken in connection with its management of the business and affairs of the Company and (iii) hereby irrevocably waives, to the fullest extent permitted by law, any and all rights, claims or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the Stockholder, whether arising from Parent’s and the Stockholder’s ownership of capital stock of the Company or otherwise. The Stockholder acknowledges and agrees that XxxxxxParent’s practice has been to borrow money from the Company on a regular basis on terms previously disclosed to the Stockholder. Without limiting the generality of the foregoing, the Stockholder acknowledges and agrees that the Stockholder has no rights, claims, or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the extent that the Parent continues such practice.

Management of the Business of the Company. The Stockholder (i) acknowledges and agrees that Parent, by virtue of its majority ownership of the capital stock of the Company, controls the management of the business and affairs of the Company (including with respect to any sale or initial public offering of the Company), (ii) acknowledges and agrees that Parent shall not be liable to the Stockholder for any action taken in connection with its management of the business and affairs of the Company and (iii) hereby irrevocably waives, to the fullest extent permitted by law, any and all rights, claims or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the Stockholder, whether arising from Parent’s Parents and the Stockholder’s Stockholders ownership of capital stock of the Company or otherwise. The Stockholder acknowledges and agrees that Xxxxxx’s Parents practice has been to borrow money from the Company on a regular basis on terms previously disclosed to the Stockholder. Without limiting the generality of the foregoing, the Stockholder acknowledges and agrees that the Stockholder has no rights, claims, or remedies against Parent in respect of any duties (including fiduciary duties), whether in equity or at law (including any fiduciary duties that a majority stockholder may have to a minority stockholder), to the extent that the Parent continues such practice.