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A waiver of a default refers to the intentional relinquishment or abandonment of a right to claim that a party has defaulted on a contract or obligation. This means that the party entitled to enforce the terms of the contract chooses not to pursue legal remedies for the default, often allowing the defaulting party to continue fulfilling their obligations without penalties. Waivers can be partial or complete and may be based on the circumstances surrounding the default, such as a temporary setback or mutual agreement to extend deadlines.

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