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That is a time delay feature to keep the system from short cycling (that is bad for the system), or it is a printed circuit board going bad, and issuing a bogus 'waiting' code.
Tell me if the 'waiting cycle' is the same each time, and about how long it is.... and tell me if this has only occurred in hot weather, never in cooler more moderate weather. (it could be a dirty condenser problem).
We can go from there.