Facing null reference exception in base.Dispose when inheriting a class from ToolStrip

Question

Facing a null reference exception in base.Dispose when deleting items in the designer while inheriting a class from ToolStrip when DesignMode is true. The exception doesn't occur when DesignMode is false, but the items are not disposed of when deleted through the designer. Please refer to the below screenshots for your reference.

Exception arising from the "ChangeToolStripParentVerb" class. The exception only occurs the first time I delete it. On following attempts, the exception doesn't occur.