5:15 pm: Peter has been waived, per NBA.com’s log of official transactions. 4:42 pm: The Pacers plan to waive Taelon Peter, who is on a two-way contract, league sources tell Michael Scotto of HoopsHype (Twitter link). Peter, 24, made 38 NBA appearances for the Pacers as a rookie, averaging 4.5 points, 1.6 rebounds and 1.1 assists in 12.9 minutes per game. Peter just finished playing for the Pacers’ Summer League team in Las Vegas. NBA teams are permitted to carry three players on two-way contracts, and Indiana’s two-way situation still appears to be crowded even after cutting Peter loose.