WAIVER OF CONTRACT BREACH
[NAME OF OTHER PARTY TO AGREEMENT]
[OTHER PARTY’S ADDRESS]
Re: Waiver of Breach of Contract by [NAME OF OTHER PARTY TO AGREEMENT]
As you are aware, [NAME OF PARTY TO CONTRACT SENDING LETTER] and [NAME OF OTHER PARTY TO AGREEMENT] entered into an agreement whereby [SUBJECT MATTER OF AGREEMENT] on or around [DATE] (the “Agreement”).
As of the date of this correspondence, the Agreement is still in effect. However, on or around [DATE], the following occurred: [DESCRIBE BREACH IN DETAIL]. These events occurred in breach of Section [SECTION NUMBER] of the Agreement. However, on behalf of [NAME OF PARTY TO CONTRACT SENDING LETTER], the purpose of this correspondence is to provide notice that [NAME OF PARTY TO CONTRACT SENDING LETTER] has agreed to waive such breach and continue the Agreement in accordance with the terms therein.
[This waiver is granted conditionally upon payment of [AMOUNT] on or before [DATE].]
The waiver described hereunder is expressly limited to the events described above and under no circumstances does the [NAME OF THE PARTY TO CONTRACT SENDING LETTER] waive any of its rights pursuant to the Agreement other than the specific waiver granted hereunder, including those rights pursuant to the material breach articulated above.
Please articulate any disagreement with the statements made herein in writing on or before ten (10) days from the date of this correspondence. Such disagreement may be made in writing and delivered to the following address:
[ADDRESS OF PARTY SENDING LETTER]
[NAME OF REQUESTING PARTY]