Limitations Act. The 2 year period for seeking a remedial order under section 3(1)(a) of the Limitations Act, S.A. 2000 c. L-12, as amended (the “Act”), for any claim (as defined in the Act) arising in connection with this Agreement is extended to:
Limitations Act. Each of the parties hereto agree that any and all limitation periods provided for in the Limitations Act (Ontario) shall be excluded from application to the Obligations and any undertaking, covenant, indemnity or other agreement of any Loan Party provided for in any Loan Document to which it is a party in respect thereof, in each case to the fullest extent permitted by the Limitations Act (Ontario).
Limitations Act. The Guarantor acknowledges and agrees that any Noteholder may make a claim or demand payment hereunder notwithstanding any limitation period regarding such claim or demand set forth in the Limitations Act, 2002 (Ontario) or under any other applicable law with similar effect and, to the maximum extent permitted by applicable law, any limitations periods set forth in such Act or applicable law are hereby explicitly excluded. For greater certainty, the Guarantor acknowledges that this Guarantee is a “business agreement” as defined under Section 22 of the Limitations Act, 2002 (Ontario).
Limitations Act. The Maker has issued this note for business purposes; accordingly, this note will be treated as a business agreement for purposes of the Limitations Act, 2002 (Ontario). The Maker agrees that any limitation period applicable to this note, any proceeding relating to a claim in connection with this note, or the Maker’s obligations under this note (other than the ultimate limitation period provided for in section 15 of that Act) is suspended and will not apply to this note or the obligations that it evidences.
Limitations Act. The Parties expressly acknowledge and agree that an obligation under this Agreement to provide written notice in the manner and the time periods specified under this Agreement and the limitations of liability set out in this Agreement, is intended by the Parties as a limitation of liability that represents a fair and equitable allocation of the risks and liabilities that each Party has agreed to assume in connection with the subject matter hereof and is not an agreement within the provision of subsection 7(2) of the Limitations Act (Alberta).
Limitations Act. Pursuant to Section 7 of the Limitations Act (L‑ 12, R.S.A. 2000), the limitation period set forth in Section 3(1)(a) of such Act (as from time to time amended, re‑ enacted, re‑ designated, supplemented or replaced) in respect of any claim (within the meaning of such Act) brought by either Party is extended to four (4) years.
Limitations Act. Subject to any limitation period specifically prescribed in this Agreement, the Parties expressly agree, a is permitted by the Limitations Act, RSA 2000, Ch. L-12, to extend the two year time period provided for under subclause 3(i)(a) thereof, to a period of four years.
Limitations Act. The parties acknowledge that this Agreement constitutes a “business agreement” within the meaning of the Limitations Act (Ontario) and have agreed to vary the limitation period provided in Section 4 of that Act, as provided in Sections 3, 4 and 5 of this Agreement, to establish that the Sub-Remitter shall remain liable to pay Sub- Remitter’s Fees for a term of five years from the end of the Data Period for which such Sub-Remitters Fees are applicable.
Limitations Act. Because this Act will limit claims under contracts to two (2) years which is not considered by most companies to be enough time to settle claims that may arise, eg. royalty payments; therefore, it is included to increase the time period to four (4) years. Counterpart Execution - Only use this Clause if there are more than two parties and the parties have agreed to counterpart execution. If there are only two parties to the Agreement, then this Clause is not needed. Further Assurances - Use this Clause only if a well has been drilled on the lands. This Clause is not needed if lands are jointly bought, as this is identified in the Operating Procedure.
Limitations Act. Notwithstanding the provisions of the Limitation Act (Ontario), a claim may be brought against a Grantor based on this Agreement at any time within 6 years from the date on which demand for payment of the Obligations is made to such Grantor in accordance with the terms of this Agreement.
