Common use of Election and waiver Clause in Contracts

Election and waiver. A right or power under the Agreement shall only be deemed to be waived 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.

Election and waiver. ‌ A right or power under the Agreement shall only be deemed to be waived 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.