Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Waiver definition

What does Waiver mean? In practice, waiver describes a party choosing not to insist on strict contractual performance, thereby giving up, temporarily or permanently, a contractual right or remedy. It is a descriptive, case law concept used across contract law and procedure in England & Wales, Scotland, Northern Ireland and Ireland. Key features: - Express or implied by conduct, but intention must be clear and unequivocal. - May occur before or after breach. After breach, not exercising a right to terminate is often called an election or affirmation (a waiver of the termination right). - A one‑off indulgence usually suspends strict performance and can be withdrawn...

Form of conditional waiver letter: conditions precedent to drawdown under bilateral facility agreement (England and Wales)

Published by a LexisNexis Banking & Finance expert

Precedents

[ To appear on the lender’s headed paper ]

[ enter date ]

To: [ enter the borrower’s name and address ] [ and ] [ enter the guarantor’s name and address, where applicable ]

Dear [ enter the full name of the borrower and, where applicable, the full name of the guarantor ]

We make reference to the facility agreement dated [ insert date of facility agreement ] between [ insert name of borrower ] (the Borrower) and [ insert name of lender ] (the Lender), as it may from time to time be amended, novated, supplemented, restated or replaced in accordance with its provisions (the Facility Agreement).
[ We further refer to the guarantee dated [ insert date of guarantee ] between [ insert name of guarantor ] (the Guarantor) and the Lender, as amended, novated, supplemented, restated or replaced from time to time in line with its terms (the Guarantee). ]
Unless this letter states otherwise, or the context dictates a different reading, any words or expressions defined in the Facility Agreement shall bear the same meaning in this letter...

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Web page updated on 22/05/2026

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