"waive" in the verb sense

1. waive, relinquish, forgo, forego, foreswear, dispense with

do without or cease to hold or adhere to

"We are dispensing with formalities"

"relinquish the old ideas"

2. forfeit, give up, throw overboard, waive, forgo, forego

lose (s.th.) or lose the right to (s.th.) by some error, offense, or crime

"you've forfeited your right to name your successor"

"forfeited property"

Source: WordNet® (An amazing lexical database of English)

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