Waive (Verb) = Refrain from insisting or using
Synonyms: Abandon, Cede, Reject, Relinquish, Renounce, Surrender
Example: I cannot waive any condition.
Wave (Noun) = Water current in the sea or river
Synonyms: Billow, Boomer, Froth, Swell, Surf,
Example: High waves are rising in the sea.