Common use of Waivers; Remedies Clause in Contracts

Waivers; Remedies. Any waiver given by Lakes hereunder shall be effective if it is in writing and only in the specific instance and for the specific purpose given. Mere delay or failure to act shall not preclude the exercise or enforcement of any rights and remedies available to Lakes. All rights and remedies of the Agent and/or Lakes shall be cumulative and may be exercised singularly in any order or concurrently, at the option of Lakes, and the exercise or enforcement of any such right or remedy shall neither be a condition to nor a bar to the exercise or enforcement of any other right or remedy.