The wavy washer acts essentially like spring that provides constant clamping force on the chute and prevent unintended movement, but enough clamping friction to prevent it from rotating. You can control the preload of this spring by how tight the nut is.
I no longer have the wavy washer. Instead, I use large nylon washers back up by metal fender washer. The nylon washer allows the chute to pivot, but the does not scratch the metal chute. Every once in a while, I have to adjust the nut tension as the nylon material wears away. Its not an OEM setup, and requires periodic adjustment, but I prefer how this works.
This message was modified Nov 10, 2015 by aa335