Can the holder of the Canopy Lawn Care Note delay exercising a right without waiving it?

According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the holder of the Note can delay exercising a right without it being considered a waiver. Specifically, paragraph 17 of the Note states that if the holder fails to exercise a right or delays in exercising it, this does not act as a waiver of that right. Furthermore, a single or partial exercise of a right does not prevent any further exercise of that right or any other right. The rights, remedies, and powers provided are cumulative and not exclusive of any other rights, remedies, or powers provided by law.

For a prospective Canopy Lawn Care franchisee, this clause provides some assurance that the note holder's forbearance on any particular default does not set a precedent. For example, if a franchisee is late on a payment and the note holder does not immediately declare a default, they still retain the right to declare a default for that specific instance or any future late payments.

This is a fairly standard clause in loan agreements, designed to protect the lender's rights over the long term. It prevents a borrower from arguing that the lender's previous leniency constitutes a permanent waiver of their rights under the note. The franchisee should still aim to maintain good communication with the note holder and adhere to the payment schedule to avoid any potential defaults, even if the note holder has the flexibility to delay exercising their rights.