Legal Due Diligence · glossary
A party's binding promise not to use a right it holds. The Sunrise report recommended that Atlas and Meridian approach Novapay together for a waiver of its change-of-control right. In practice, written comfort short of a waiver is often all that is on offer. Chapter 7
Explained in Chapter 7, Material Contracts, of Legal Due Diligence.
The main page for this term is Waiver, in Finance Deals & Syndicated Lending.
A waiver would be Novapay's binding promise not to use its right. Asking for one tells Novapay that a sale is coming. So the two sides approach it together, once, and only when they are serious. In practice, written comfort short of a waiver is often all that is on offer.Read Chapter 7, Material Contracts →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Legal Due Diligence and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Legal Due Diligence → · All terms A–Z →