Common use of Delay in Enforcement; No Waiver Clause in Contracts

Delay in Enforcement; No Waiver. The Secured Party can choose to delay or not to enforce any of its rights under this Agreement without losing such rights. If the Secured Party chooses not to exercise or enforce (or is prevented from exercising or enforcing) any of such rights, the Borrower agrees that the Secured Party is not waiving the right to enforce such rights at a later time or any of its other rights. Any waiver of the Secured Party's rights under this Agreement must be in writing.