waiver

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waiver

1. the voluntary relinquishment, expressly or by implication, of some claim or right

2. the act or an instance of relinquishing a claim or right

3. a formal statement in writing of such relinquishment

Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005

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Throughout the month of August, teams are permitted to continue trading players, with one caveat: all players involved in the deal who are on a team's 40-man roster must first clear waivers before moving on to a new team.

4 MLB Players Who Could Be Traded Before Aug. 31 Waiver Deadline

At his age we didn't expect him to clear waivers, but the NHL is entering a difficult phase and has altered the threshold for sending contracted players down to the AHL.

ICE HOCKEY: Blaze miss out on Florida ace; GAME ON

Wojnarowski pointed out that "Anthony could have his veteran's minimum $2.4 million contract claimed on waivers, or he could clear waivers and become a free agent."