Waiver; Subsequent Modification Clause Samples
The "Waiver; Subsequent Modification" clause defines how parties may relinquish certain rights under the agreement and how changes to the contract can be made after it is signed. Typically, this clause states that a party’s failure to enforce a provision does not mean they permanently give up that right, and that any changes or waivers must be made in writing and agreed to by all parties. This ensures that rights are not unintentionally lost through inaction and that the contract cannot be informally or unintentionally altered, thereby maintaining clarity and certainty in the contractual relationship.
Waiver; Subsequent Modification. Except as expressly provided herein, no delay or omission by any party in insisting upon the strict observance or performance of any provision of this Agreement, or in exercising any right or remedy, shall be construed as a waiver or relinquishment of such provision, nor shall it impair such right or remedy, and no waiver by any party or any failure or refusal of the other party to comply with its obligations under this Agreement shall be deemed a waiver of any other or subsequent failure or refusal to so comply by such other party. No waiver or modification of the terms hereof shall be valid unless in writing and signed by the party to be charged, and then only to the extent therein set forth.
Waiver; Subsequent Modification. Except as expressly provided herein, no waiver by any party or any failure or refusal of the other party to comply with its obligations under this Security Agreement shall be deemed a waiver of any other or subsequent failure or refusal to so comply by such other party. No waiver or modification of the terms hereof shall be valid unless in writing and signed by the party to be charged and then only to the extent therein set forth.