The Update link will not be displayed in the following cases:

• Your product's Waves Update Plan has expired.
  The Waves Update Plan end date is listed next to each product in your Waves account.
  To renew Waves Update Plan, click Get Waves Update Plan on the account main menu.
  
  
• Your product is already of the latest version.
  
  
• Bonus plug-ins will not display the Update link.
  These plug-ins will be updated along with the main bundle, which will contain their licenses.