1. gives up or relinquishes a right, claim, or privilege voluntarily
Usage: legal context
2. chooses not to enforce or apply a rule, requirement, or fee

Examples

• The defendant waives his right to a jury trial.
• She waives her fee for low-income clients.
• The university waives the application fee for students with financial need.
• He waives goodbye as the train departs.
• The company waives the penalty for first-time late payments.
• The athlete waives his no-trade clause to join the championship team.
• The bank waives the monthly service charge for senior citizens.