Common use of Time and Waiver Clause in Contracts

Time and Waiver. Time shall be of the essence of this Assignment but no failure or delay on the part of the Bank in exercising nor any omission to exercise any right, power, privilege or remedy accruing to the Bank upon any default on the part of the Assignor shall affect or impair any such right, power, privilege or remedy or be construed as a waiver thereof or an acquiescence to such default; nor shall any waiver or action of the Bank in respect of any default or acquiescence in any such default, affect or impair any right, power, privilege or remedy of the Bank in respect of any other or subsequent default.

Time and Waiver. Time shall be of the essence of this Assignment Agreement and the Security Documents but no failure or delay on the part of the Bank in exercising nor any omission to exercise any right, power, right power privilege or remedy accruing to the Bank upon any default on the part of the Assignor Borrower and/or the Security Party shall affect or impair any such right, power, right power privilege or remedy or be construed as to be a waiver thereof or an any acquiescence to such default; nor shall any waiver or action of the Bank in respect of any default or any acquiescence in to any such default, default affect or impair any right, power, right power privilege or remedy of the Bank in respect of any other or subsequent default.