AGREEMENT WAIVER LETTER
[Your Company Name]
[Your Company Address]
December 5, 2053
Mr. Jordan Matthews
Executive Vice President
Innovative Solutions LLC
5678 Business Park Avenue
Greenfield, TX 75001
Dear Mr. Matthews,
We are writing to formally acknowledge and confirm the waiver of specific terms and conditions as detailed in the original agreement dated June 10, 2050, between [Your Company Name] and Innovative Solutions LLC. This waiver is granted in light of recent discussions and mutual understanding between our organizations.
This waiver specifically pertains to the following provisions in the original agreement:
Clause 4.2 - Delivery Timeline: The original requirement that all deliverables must be completed by December 31, 2053, is waived. Innovative Solutions LLC is granted an extension until March 15, 2054, to fulfill this obligation, recognizing the unique challenges presented by recent supply chain disruptions.
Clause 7.1 - Penalty for Delays: The condition requiring the imposition of a penalty for delays exceeding 30 days is hereby waived. [Your Company Name] agrees not to enforce the penalty for delays incurred before March 15, 2054, acknowledging the unforeseen circumstances impacting project timelines.
Clause 9.5 - Non-Compete Agreement: The restriction preventing Innovative Solutions LLC from engaging in similar projects with other clients in the same industry until December 31, 2055, is partially waived. [Your Company Name] consents to Innovative Solutions LLC pursuing similar projects, provided they do not directly compete with Skyline Innovations, Inc.'s core product line.
Please note that this waiver is strictly limited to the terms and clauses specified above. All other terms and conditions outlined in the original agreement remain in full force and effect. This waiver does not constitute a modification of the agreement beyond the scope mentioned herein.
By signing below, both parties acknowledge their understanding and agreement to the terms of this waiver. This letter serves as an official amendment to the original agreement, and both [Your Company Name] and Innovative Solutions LLC agree to abide by the revised terms.
We appreciate your cooperation and understanding in this matter. Should you have any further questions or require additional information, please do not hesitate to contact us. We look forward to continuing our successful partnership and achieving our mutual goals.
Thank you for your attention to this important matter.
Sincerely,
[Your Name]
Chief Operating Officer
[Your Company Email]
[Your Company Number]
Acknowledgment by Recipient:
I, Jordan Matthews, Executive Vice President of Innovative Solutions LLC, acknowledge receipt of this Agreement Waiver Letter dated December 5, 2053. I confirm my understanding and acceptance of the terms and conditions outlined herein.
Sincerely,
Jordan Matthews
Executive Vice President
555-1234-567
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