Hello Alman,
every time a router sends out an OSPF new/updated LSA it expects to receive an ack that confirms correct reception of the update.
if no LSA Ack is received the router then has to retransmit the LSA out the interface and this should be the meaning of the retransmit timer.
That should be used for an exponential backoff timer.
the wait timer is equal to the dead interval.
and it is the time the interface state is in the waiting phase trying to discover who are the DR and BDR on segment by listening to OSPF hellos and sending its own hellos
At the end of wait time if the router is the only one on segment it promotes itself to DR for the segment.
Hope to help
Giuseppe
