Common use of Certain Acknowledgment Clause in Contracts

Certain Acknowledgment. In recognition and anticipation that: (i) the partners, principals, directors, officers, members, managers or employees of BlackRock Members and the Highfields Members and their respective Affiliates may serve as directors or officers of the Managing Member, (ii) the BlackRock Members and the Highfields Members and their respective Affiliates may engage in the same or similar activities or related lines of business as those in which the Managing Member, the Company or the Subsidiaries, directly or indirectly, may engage or other business activities that overlap with or compete with those in which the Managing Member, the Company or the Subsidiaries, directly or indirectly, may engage, and (iii) the Company and the Subsidiaries may engage in material business transactions with BlackRock Members and the Highfields Members and their respective Affiliates, the provisions of this Section 6.2 are set forth to regulate and define the conduct of certain affairs of the Company with respect to certain classes or categories of business opportunities as they may involve BlackRock Members and the Highfields Members and their respective Affiliates and their respective directors, officers, members, managers or employees, and the powers, rights, duties and liabilities of the Company and its officers, directors and Members in connection therewith.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Pennymac Financial Services, Inc.), Limited Liability Company Agreement (Pennymac Financial Services, Inc.)