| Commentary

36.3 Waiver clauses

| Commentary

36.3 Waiver clauses

Waiver clauses usually perform one of two functions (and sometimes both).

First, such a clause will make it clear that any failure or delay in exercising a right under the agreement will not constitute a waiver of that right. This is the most common type of clause. For example:

‘No failure or delay by any party to exercise any right, power or remedy will operate as a waiver of it nor will any partial exercise preclude any further exercise of the same, or of some other right, power or remedy’

If the agreement has as its main purpose a single

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