Common use of Delay or Omission Not a Waiver Clause in Contracts

Delay or Omission Not a Waiver. No delay or omission of the Indenture Trustee or a Noteholder to exercise a right or remedy after a Potential Default with respect to Group 1 or Event of Default with respect to Group 1 will impair the right or remedy or be a waiver of the Potential Default with respect to Group 1 or Event of Default with respect to Group 1. Every right and remedy given by this Article V or by law to the Indenture Trustee or to the Noteholders may be exercised as often as deemed advisable by the Indenture Trustee or by the Noteholders.

Appears in 42 contracts

Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Delay or Omission Not a Waiver. No delay or omission of the Indenture Trustee or a Noteholder to exercise a right or remedy after a Potential Default with respect to Group 1 [_] or Event of Default with respect to Group 1 [_] will impair the right or remedy or be a waiver of the Potential Default with respect to Group 1 [_] or Event of Default with respect to Group 1[_]. Every right and remedy given by this Article V or by law to the Indenture Trustee or to the Noteholders may be exercised as often as deemed advisable by the Indenture Trustee or by the Noteholders.

Appears in 1 contract

Sources: Indenture (Verizon Master Trust)