Common use of Waiver of Potential Conflicts of Interest Clause in Contracts

Waiver of Potential Conflicts of Interest. Biovest and Accentia hereby acknowledge that Accentia owns more than a majority of the outstanding capital stock of Biovest, and that certain directors, officers and employees of Biovest also have positions as officers, directors or employees of Accentia. In light of the potential conflicts of interest resulting from the interrelationship of the parties, Biovest has committed to submit this Agreement and the potential conflicts of interest arising there from to the Biovest Audit Committee. All members of the Biovest Audit Committee are independent from any relationship with Accentia. Further, Biovest has committed that the Biovest Audit Committee shall engage independent legal counsel and Accentia has also committed that it shall engage independent legal counsel because the general counsel and entire legal staff used by both Biovest and Accentia are shared resources by Biovest and Accentia. The role of general counsel and in-house legal staff of Biovest and Accentia shall be limited to initial drafting and to supporting independent legal counsel. Biovest further represents that this Agreement shall not be submitted to the full Board of Directors of Biovest unless this Agreement has been recommended by the Biovest Audit Committee. Biovest, following the recommendation of its Audit Committee and with the approval of its Board of Directors, by executing this Agreement shall be deemed to expressly acknowledge and waive the potential conflicts of interest associated with this Agreement. By execution of this Agreement the parties acknowledge to each other that each party has taken all reasonable and necessary steps to assure that all potential conflicts of interest have been fully disclosed, addressed, and fairly and completely resolved or waived.

Waiver of Potential Conflicts of Interest. Biovest BIOVEST and Accentia ACCENTIA hereby acknowledge that Accentia ACCENTIA owns more than a majority of the outstanding capital stock of BiovestBIOVEST, and that certain directors, officers and employees of Biovest BIOVEST also have positions as officers, directors or employees of AccentiaACCENTIA. In light of the potential conflicts of interest resulting from the interrelationship of the parties, Biovest BIOVEST has committed to submit this Termination Agreement and the potential conflicts of interest arising there from to the Biovest BIOVEST Audit Committee. All members of the Biovest BIOVEST Audit Committee are independent from any relationship with AccentiaACCENTIA. Further, Biovest BIOVEST has committed that the Biovest BIOVEST Audit Committee shall engage independent legal counsel and Accentia ACCENTIA has also committed that it shall engage independent legal counsel because the general counsel and entire legal staff used by both Biovest BIOVEST and Accentia ACCENTIA are shared resources by Biovest BIOVEST and AccentiaACCENTIA. The role of general counsel and in-house legal staff of Biovest BIOVEST and Accentia ACCENTIA shall be limited to initial drafting and to supporting independent legal counsel. Biovest BIOVEST further represents that this Termination Agreement shall not be submitted to the full Board of Directors of Biovest BIOVEST unless this the Termination Agreement has been recommended by the Biovest BIOVEST Audit Committee. BiovestBIOVEST, following the recommendation of its Audit Committee and with the approval of its Board of Directors, by executing this Termination Agreement shall be deemed to expressly acknowledge and waive the potential conflicts of interest associated with this Termination Agreement. By execution of this the Termination Agreement the parties acknowledge to each other that each party has taken all reasonable and necessary steps to assure that all potential conflicts of interest have been fully disclosed, addressed, and fairly and completely resolved or waived.

Waiver of Potential Conflicts of Interest. Biovest and Accentia hereby acknowledge that Accentia owns more than a majority of the outstanding capital stock of Biovest, and that certain directors, officers and employees of Biovest also have positions as officers, directors or employees of Accentia. In light of the potential conflicts of interest resulting from the interrelationship of the parties, Biovest has committed to submit this Agreement and the potential conflicts of interest arising there from to the Biovest Audit Committee. All members of the Biovest Audit Committee are independent from any relationship with Accentia. Further, Biovest has committed that the Biovest Audit Committee shall engage independent legal counsel and Accentia has also committed that it shall engage independent legal counsel because the general counsel and entire legal staff used by both Biovest and Accentia are shared resources by Biovest and Accentia. The role of general counsel and in-house legal staff of Biovest and Accentia shall be limited to initial drafting and to supporting independent legal counsel. Biovest further represents that this Agreement shall not be submitted to the full Board of Directors of Biovest unless this Agreement has been recommended by the Biovest Audit Committee. Biovest, following the recommendation of its Audit Committee and with the approval of its Board of Directors, by executing this Agreement shall be deemed to expressly acknowledge and waive the potential conflicts of interest associated with this Agreement. By execution Only after receipt of this Agreement the parties acknowledge to each other commitments, representations and mutual assurances that each party has taken all reasonable and necessary steps to assure that all potential conflicts of interest have been fully disclosed, addressed, and fairly and completely resolved or waivedwaived by Biovest and Accentia, have the parties entered into this Agreement.