Common use of No Waiver by Parent Clause in Contracts

No Waiver by Parent. The consummation of the Closing shall not be deemed to be a waiver by the Parent or the Company of any of their rights or remedies against the Shareholders hereunder for any breach of warranty, covenant or agreement by the Shareholders herein irrespective of any knowledge of or investigation made by or on behalf of the Parent; provided, however, that if the Shareholders shall disclose in writing to the Parent prior to the Closing Date a specified breach of a specifically identified representation, warranty, covenant or agreement of the Shareholder herein, and requests a waiver thereof by the Parent, and the Parent shall waive any such specifically identified breach in writing prior to the Closing Date, the Parent and the Company, for themselves and for each Parent Indemnified Party (as defined below) shall be deemed to have waived their respective rights and remedies hereunder for, and the Shareholders shall have no liability with respect to, any such specifically identified breach, to the extent so identified by the Shareholders and so waived by the Parent.