We Never Exercise Our Rights Under This Section . . .

is a phrase that often follows "we always do it this way" and begins with "don’t worry . . . ." It’s designed to comfort management when the venture investor insists on a particularly onerous provision. Sometimes the phrase is different: "We don’t expect to have to use this provision," or "We never use this provision, but we always require it."

Management should be careful when someone asks for something they insist they will never use. If they really will not use it then they do not need it. See: Boilerplate, Reps and Warranties, We Always Do It This Way.