When does a waiver become effective in the B Bops franchise agreement?

• 1. WAIVERS. Either party may by written notice to the other, unilaterally waive or reduce any obligation of or restriction upon the other party imposed by this Agreement, effective upon delivery of such written notice to such other party. Company makes no warranties upon which Franchisee may rely, and assumes no liability or obligation to Franchisee, by granting any waiver or by reason of any delay in acting on any request for a waiver. Any waiver granted by Company shall be without prejudice to any of the rights Company may have, will be subject to continuing review by Company, and may be revoked, in Company's sole discretion, at any time and for any reason upon delivery of written notice to Franchisee. Company and Franchisee shall not be deemed to have waived or impaired any right, power or option reserved by this Agreement by virtue of any custom or practice of the parties at variance with the terms hereof; by any failure, refusal or neglect of Company or Franchisee to exercise any right under this Agreement or to insist upon exact compliance by the other with its obligations hereunder; by any waiver, forbearance, delay, failure or omission by Company to exercise any right, power or option, whether of the same or of a different nature, with respect to any other franchisee; or through the acceptance by Company of any payments due from Franchisee after any breach of this Agreement.

Source: Item 22 — CONTRACTS (FDD page 53)