Common use of Parent Action Clause in Contracts

Parent Action. The Board of Directors of Parent (at a meeting duly called and held) has by the requisite vote of all directors present (a) determined that the Merger is advisable and fair to and in the best interests of Parent and its shareholders, (b) approved the Merger and the transactions contemplated by this Agreement in accordance with the provisions of the Delaware General Corporation Law, and (c) recommended the approval of this Agreement and the Merger by the holders of Parent capital stock and directed that the Merger be submitted for consideration by Parent's shareholders at the meeting of shareholders contemplated by Section 3.7.