Common use of Abstention Clause in Contracts

Abstention. No failure or delay by the pledgee to exercise any right, remedy, power or privilege under this Agreement shall constitute a waiver of such right, remedy, power or privilege, and the pledgee’s exercise of any right, remedy, power or privilege, alone or in part, shall not preclude the pledgee’s exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges set forth in this Agreement are cumulative and shall not exclude the application of any rights, remedies, powers and privileges provided by law.