A waiver of any default or breach of duty or contract by any bondholder or his trustee does not affect any subsequent default or breach of duty or contract nor impair any rights or remedies on the subsequent default or breach.

(Added by Stats. 1949, Ch. 81.)

Terms Used In California Government Code 54646

  • Contract: A legal written agreement that becomes binding when signed.
  • Trustee: A person or institution holding and administering property in trust.