Common use of Rights, Powers and Remedies Clause in Contracts

Rights, Powers and Remedies. (1) The rights, powers and remedies of each Party under this Agreement are additional to other rights and powers independently given by law. (2) A Party's failure or delay to exercise a right, power or remedy does not operate as a waiver of that right, power or remedy. (3) The exercise of a right, power or remedy does not preclude either its exercise in the future or the exercise of any other right, power or remedy. (4) Unless this Agreement expressly provides otherwise, a Party may exercise a right, power or remedy (including giving or withholding its approval or consent) entirely at its discretion (including by imposing conditions). (5) In exercising, or deciding not to exercise, a right, power or remedy, a Party is not required to take into account any adverse effect on another Party. (6) Each Party agrees to comply with the conditions of any approval, consent or waiver given by another Party. (7) Waiver of a right, power or remedy is effective only in respect of the specific instance to which it relates and for the specific purpose for which it is given.