18.3  Waiver

No Party to this Agreement may rely on the words or conduct of any other Party as a waiver of any right unless the waiver is in writing and signed by the Party granting the waiver.

In this clause 18.3:

(a)  conduct includes delay in the exercise of a right;

(b)  right means any right arising under or in connection with this Agreement and includes the right to rely on this clause; and

(c)  waiver includes an election between rights and remedies, and conduct which might otherwise give rise to an estoppel.