A One Time Waiver is utilized when a party wishes to grant temporary relief from specific contractual obligations without permanently modifying the underlying agreement. Under English and Welsh law, this document serves as a formal acknowledgment that a particular breach or non-compliance is being excused for a specific instance only. The waiver should clearly identify the relevant contract, the specific provision being waived, and explicitly state that the waiver applies only to the specified instance. It's particularly important in commercial relationships where maintaining the ability to enforce rights in future situations is crucial while showing flexibility for a current circumstance.
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1. Date: Date of the waiver
2. Parties: Details of the parties giving and receiving the waiver
3. Background: Context of the original agreement and breach/circumstance being waived
4. Waiver Statement: Clear statement of what is being waived and the one-time nature
5. Reservation of Rights: Statement preserving other rights under the original agreement
6. Governing Law: Confirmation of applicable law
7. Execution: Signature blocks and execution provisions
1. Definitions: Definitions of key terms - use when technical or complex terms need definition
2. Conditions: Any conditions attached to the waiver - use when the waiver is conditional on certain events or actions
3. Duration: Specific timeframe for the waiver - use when the waiver needs to be time-limited
1. Original Agreement: Copy or extract of the original agreement being waived
2. Evidence of Authority: Documentary evidence of authority to grant waiver (when dealing with corporate entities or agents)
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