Common use of Limitation Periods Clause in Contracts

Limitation Periods. Notwithstanding the provisions of the Limitations Act, 2002 (Ontario) or any other statute, an Indemnified Party may commence a proceeding in respect of any matter referred to in Sections 4.2 and 4.3 as referred to in a Claim Notice delivered within the time periods stipulated in Section 4.6 at any time on or before the later of: (a) the second anniversary of the last date upon which such Claim Notice is permitted to be delivered under Section 4.6; and (b) the expiry of the limitation period otherwise applicable to such claim, and any applicable limitation period is hereby so extended to the full extent permitted by law.

Limitation Periods. Notwithstanding the provisions of the Limitations Act, 2002 (Ontario) or any other statute, an Indemnified Party may commence a proceeding in respect of Damages arising from any matter referred to incorrectness in Sections 4.2 or breach of any representation and 4.3 warranty of the respective Indemnifying Party, or in respect of any breach or non-fulfilment of any covenant, as referred to with specificity in a Claim Notice delivered within the time periods stipulated in Section 4.6 6 at any time on or before the later of: date that is one-hundred and twenty (a120) the second anniversary of days after the last date upon which such Claim Notice is permitted to be delivered under Section 4.6; and (b) the expiry of the limitation period otherwise applicable to such claim, 6 and any applicable limitation period is hereby so extended to the full extent permitted by law.