Common use of Waiver and Election Clause in Contracts

Waiver and Election. The exercise by the Holder of any option given under this Note shall not constitute a waiver of the right to exercise any other option. No failure or delay on the part of the Holder in exercising any right, power or remedy under this Note shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy. No modification, termination or waiver of any provisions of this Note, nor consent to any departure by the Borrower therefrom, shall be effective unless in writing and signed by an authorized officer of the Holder, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No notice to or demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances.

Waiver and Election. The exercise by the Holder Lender of any option given under this Note Agreement shall not constitute a waiver of the right to exercise any other option. No failure or delay on the part of the Holder Lender in exercising any right, power or remedy under this Note Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy. No modification, termination or waiver of any provisions of this Notethe Credit Documents, nor consent to any departure by the Borrower Grantor therefrom, shall be effective unless in writing and signed by an authorized officer of the HolderLender, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No notice to or demand on the Borrower Grantor in any case shall entitle the Borrower Grantor to any other or further notice or demand in similar or other circumstances.