INDULGENCE GRANTED Clause Samples
The "Indulgence Granted" clause defines the effect of one party choosing not to enforce a contractual right or to overlook a breach by the other party. In practice, this means that if a party allows a deadline to pass or does not immediately act on a violation of the agreement, it does not mean they have permanently waived their rights or accepted the breach. The core function of this clause is to protect a party’s rights under the contract, ensuring that leniency or delay in enforcement does not prevent future enforcement or imply a modification of the contract’s terms.
INDULGENCE GRANTED. No waiver, neglect, delay or forbearance, whether passive or express, on the part of NAFA and/or the Bank to require and enforce payment of any monies under this Agreement or the performance and observance of any covenants in this Agreement nor the granting of any time by NAFA and/the Bank to the Borrower shall in any way prejudice or affect any rights, powers or remedies of NAFA and/or the Bank, nor will the NAFA and/or the Bank’s right be prejudice or waived in in respect of any other or subsequent breach of any of the covenants, undertakings, stipulations, terms and conditions aforesaid.
INDULGENCE GRANTED. No neglect, delay or forebearance of DBS Bank to require and enforce payment of any monies under this Agreement or the performance and observance of any covenants in this Agreement nor the granting of any time by the DBS Bank to the borrower shall in any way prejudice or affect any of the rights, powers or remedies of the DBS Bank, no such waiver of any such breach as aforesaid shall prejudice the rights of the DBS Bank in respect of any other or subsequent breach of any of the covenants, undertakings, stipulations, terms and conditions aforesaid.
INDULGENCE GRANTED. 9.1 No neglect, delay or forbearance of NUS and/or the Bank to require or enforce payment of any monies hereunder or to require or enforce the performance or observance of any covenant, undertaking, stipulation, term or condition hereunder nor the granting of any time by NUS and/or the Bank to the Borrower and/or the Guarantor shall in any way prejudice or affect any of the rights, powers or remedies of NUS and/or the Bank, nor will the rights of NUS and/or the Bank be prejudiced or waived in respect of any other or subsequent breach of any of the covenants, undertakings, stipulations, terms and conditions by the Borrower and/or the Guarantor as aforesaid.