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Not necessarily. Not every H4 is cancelled without prejudice, simply because of the issuance of the H1B. They are different visas, and therefore are mutually exclusive of one another.
As far as a wait period, there is none. That's what it means by "without prejudice." There is nothing to stop her from applying for a new visa in the future, should she want to do so.
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Could you please explain what circumstances lead to 'cancelling without prejudice' & what other circumstances wouldn't...?
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