Refer this for a similar solution : http://community.smartbear.com/t5/Desktop-Testing/Wait-for-Element-until-its-exists/td-p/113011
It talks about using WaitAliasChild along with Exists to prevent the error from stopping script. If you have any additional questions, you can post here.
Thanks for your suggestion djadhav.
The issue isn't that the script is getting stopped due to a field not being present from delay/wait time, but it that my script was failing because TC sees the field as being present but the field is actually not visible on screen. I ended up adding in another If..Then to say if field is VisibleonScreen = True, then run the next task. This seemed to have fixed the problem.
