Common use of Waiver or Consent/Authority Clause in Contracts

Waiver or Consent/Authority. No waiver or consent by either Party, express or implied, of any one or more defaults by the other Party in the performance of any provision of this Agreement shall operate or be construed as a waiver or consent of any other default or defaults whether of a like or different nature. Failure by a Party to complain of any act of the other Party or to declare the other Party in default with respect to this Agreement, regardless of how long that failure continues, shall not constitute a waiver by that Party of its rights with respect to that default until the applicable statute of limitations period has run. Each Party represents to the other Party that each of its employees, and any Seller's Representative, if applicable, has authority to enter into Transactions pursuant to this Agreement on its behalf. Identification and authority of a Party's employee or Seller's Representative engaging in a recorded telephonic Transaction shall be conclusively established for all purposes by a statement on the Transaction Tape by such person of the person's name; provided, failure to state the name shall not evidence any lack of authority of such person to effectuate and form a Transaction.