Common use of Election and waiver Clause in Contracts

Election and waiver. A party can waive (i.e. choose not to enforce) any of its rights or powers under the JMA, but only by giving a written and signed notice to the other parties. Nothing else will operate as a waiver of that party’s right or power. If a party waives a right or power on one occasion, that does not mean it automatically waives the same right or power on a future occasion. A right or power under the Agreement may be waived only by notice in writing, signed by the Party waiving the right or power, and: (a) no other conduct of a Party (including a failure to exercise, a delay in exercising or a partial exercise of a right or power or any forbearance or indulgence granted by one Party to another Party in respect of a right or power) operates as a waiver of the right or power, or otherwise prevents the exercise of that right or power; (b) a waiver of a right or power on one or more occasions by a Party does not operate as a waiver of that right or power if it arises again in the future, or prejudices that Party's other rights or powers or future rights or powers in respect of the right or power waived; and (c) the exercise of a right or power does not prevent any further exercise of that right or power, or of any other right or power.