Common use of Statute of Limitation Clause in Contracts

Statute of Limitation. The Guarantor acknowledges that the statute of limitation applicable to this Guaranty shall begin to run only upon Lender’s accrual of a cause of action against Guarantor caused by Guarantor’s failure to honor a demand for performance hereunder made by Lender in writing; provided, however, if, subsequent to the demand upon Guarantor, Lender reaches an agreement with Borrower or Guarantor on any terms causing Lender to forbear in the enforcement of its demand upon Guarantor, the statute of limitation shall be reinstated and shall run for its full duration from such time that Lender subsequently makes demand upon Guarantor.

Statute of Limitation. The Guarantor acknowledges that the statute of limitation applicable to this Guaranty shall begin to run only upon Lender’s 's accrual of a cause of action against Guarantor caused by Guarantor’s failure of Guarantor to honor a demand for payment or performance hereunder made by Lender in writing; providedprovide, however, that if, subsequent to the demand upon Guarantor, Lender reaches an agreement with Borrower Borrower, Guarantor or Guarantor any other Person on any terms causing Lender to forbear in the enforcement of its demand upon Guarantor, the statute of limitation shall be reinstated and shall run for its full duration from such time that Lender subsequently makes demand upon Guarantor.

Statute of Limitation. The Guarantor acknowledges that the statute of limitation applicable to this Guaranty shall begin to run only upon Lender’s 's accrual of a cause of action against Guarantor caused by Guarantor’s failure of Guarantor to honor a demand for payment or performance hereunder made by Lender in writing; provided, however, that if, subsequent to the demand upon Guarantor, Lender reaches an agreement with Borrower Borrower, Guarantor or Guarantor any other Person on any terms causing Lender to forbear in the enforcement of its demand upon Guarantor, the statute of limitation shall be reinstated and shall run for its full duration from such time that Lender subsequently makes demand upon Guarantor.