Common use of Waiver of Obligations Clause in Contracts

Waiver of Obligations. We and you may by written instrument unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement, effective upon delivery of written notice thereof to the other or such other effective date stated in the notice of waiver. Any waiver we grant will be without prejudice to any other rights we may have, will be subject to our continuing review and may be revoked, in our sole discretion, at any time and for any reason, effective upon delivery to you of ten (10) days' prior written notice. We and you will not be deemed to have waived or impaired any right, power or option reserved by this Agreement (including, without limitation, the right to demand exact compliance with every term, condition and covenant herein or to declare any breach thereof to be a default and to terminate this Agreement prior to the expiration of its term) by virtue of any custom or practice at variance with the terms hereof; our or your failure, refusal or neglect to exercise any right under this Agreement or to insist upon exact compliance by the other with our and your obligations hereunder, including, without limitation, any System Standard; our waiver, forbearance, delay, failure or omission to exercise any right, power or option, whether of the same, similar or different nature, with respect to other KRISPY KREME STORES; the existence of other franchise agreements for KRISPY KREME STORES which contain different provisions from those contained herein; or our acceptance of any payments due from you after any breach of this Agreement. No special or restrictive legend or endorsement on any check or similar item given to us will constitute a waiver, compromise, settlement or accord and satisfaction. We are authorized to remove or obliterate any legend or endorsement, and such legend or endorsement will have no effect. <PAGE> 44 Neither we nor you will be liable for loss or damage or deemed to be in breach of this Agreement if our or your failure to perform our or your obligations results from:

Waiver of Obligations. We and you may by written instrument unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement, effective upon delivery of written notice thereof to the other or such other another effective date stated in the notice of waiver. Any waiver we grant will be without prejudice to any other rights we may have, will be subject to our continuing review and may be revoked, in our sole discretion, at any time and for any reason, effective upon delivery to you of ten (10) days' prior written notice. We and you will not be deemed to have waived or impaired any right, power or option reserved by this Agreement (including, without limitation, the our right to demand exact compliance with every term, condition and covenant herein in this Agreement or to declare any breach thereof to be a default and to terminate this Agreement prior to before the expiration of its term) by virtue of any custom or practice at variance with the terms hereofof this Agreement; our or your failure, refusal or neglect to exercise any right under this Agreement or to insist upon exact compliance by the other with our and your obligations hereunderunder this Agreement, including, without limitation, any System Standard; our waiver, forbearance, delay, failure or omission to exercise any right, power or option, whether of the same, similar or different nature, with respect to other KRISPY KREME STORESXXXXX'X SUBS Restaurants; the existence of other franchise agreements for KRISPY KREME STORES XXXXX'X SUBS Restaurants which contain different provisions from those contained hereinin this Agreement; or our acceptance of any payments due from you after any breach of this Agreement. No special or restrictive legend or endorsement on any check or similar item given to us will constitute a waiver, compromise, settlement or accord and satisfaction. We are authorized to remove or obliterate any legend or endorsement, and such legend or endorsement which will have no effect. <PAGE> 44 Neither we nor you will be liable for loss or damage or deemed to be in breach of this Agreement if our or your failure to perform our or your obligations results from:

Waiver of Obligations. We and you may by written instrument unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement, effective upon delivery of written notice thereof to the other or such any other effective date stated in the notice of waiver. Any waiver we grant will be without prejudice to any other rights we may have, will be subject to our continuing review and we may be revoked, in our sole discretion, revoke it at any time and for any reason, effective upon delivery to you of ten (10) days' prior written notice. We and you will not be deemed to have waived or impaired any right, power or option reserved by this Agreement (including, without limitation, the our right to demand exact compliance with every term, condition and covenant herein or to declare any breach thereof to be a default and to terminate this Agreement prior to the expiration of its term) by virtue of any custom or practice at variance with the terms hereofof this Agreement; our or your failure, refusal or neglect to exercise any right under this Agreement or to insist upon the other's exact compliance by the other with our and your obligations hereunderunder this Agreement, including, without limitation, any System Standard; our waiver, forbearance, delay, failure or omission to exercise any right, power or option, whether of the same, similar or different nature, with respect to other KRISPY KREME STORESCookie System Facilities; the existence of other franchise license agreements for KRISPY KREME STORES Cookie System Facilities which contain different provisions from those contained hereinin this Agreement; or our acceptance of any payments due from you after any breach of this Agreement. No special or restrictive legend or endorsement on any check or similar item given to us will constitute a waiver, compromise, settlement or accord and satisfaction. We are authorized to remove or obliterate any legend or endorsement, and such that legend or endorsement will have no effect. <PAGE> 44 Neither we nor you will be liable for loss or damage or deemed to be in breach of this Agreement if our or your failure to perform our or your obligations results from:

Waiver of Obligations. We and you may by written instrument unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement, effective upon delivery of written notice thereof to the other or such other another effective date stated in the notice of waiver. Any waiver we grant granted will be without prejudice to any other rights we may or you have, will be subject to our continuing review review, and may be revoked, in our sole discretion, revoked at any time and for any reason, reason effective upon delivery to you of ten (10) days' ’ prior written notice. We and you will not be deemed to have waived waive or impaired impair any right, power power, or option reserved by this Agreement reserves (including, without limitation, the our right to demand exact compliance with every term, condition condition, and covenant herein or to declare any breach thereof to be a default and to terminate this Agreement prior to before the expiration of its termTerm expires) by virtue because of any custom or practice at variance with the terms hereofthat varies from this Agreement’s terms; our or your failure, refusal refusal, or neglect to exercise any right under this Agreement or to insist upon exact the other’s compliance by the other with our and your obligations hereunderthis Agreement, including, without limitation, any System Standard; our waiver, forbearance, delay, waiver of or failure or omission to exercise any right, power power, or option, whether of the same, similar similar, or different nature, with respect to other KRISPY KREME STORESKIDVILLE Facilities; the existence of other franchise agreements for KRISPY KREME STORES which other KIDVILLE Facilities that contain different provisions differing from those contained hereinin this Agreement; or our acceptance of any payments due from you after any breach of this Agreement. No special or restrictive legend or endorsement on any check or similar item given to us will constitute be a waiver, compromise, settlement settlement, or accord and satisfaction. We are authorized to remove or obliterate any legend or endorsement, and such legend or endorsement which then will have no effect. <PAGE> 44 Neither we nor you will be liable for loss or damage or deemed to be in breach of this Agreement if our or your failure to perform our or your obligations results from:: (1) compliance with the orders, requests, regulations, or recommendations of any federal, state, or municipal government; (2) acts of God; (3) fires, strikes, embargoes, war, acts of terrorism or similar events, or riot; or (4) any other similar event or cause. Any delay resulting from any of these causes will extend performance accordingly or excuse performance, in whole or in part, as may be reasonable, except that these causes will not excuse payments of amounts owed at the time of the occurrence or payment of Royalties, Fund contributions, and other amounts due afterward.