Common use of Stay of Actions/Tolling Clause in Contracts

Stay of Actions/Tolling. The Parties hereby stipulate that the time between the date hereof and the date on which Closing occurs, or the date on which this Agreement is terminated as provided in Paragraph 10 hereof, shall not be counted or utilized by a Party hereto in determining the date of the running of any statute of limitations or mandatory dismissal statute, or the applicability or viability of any laches defense, estoppel defense, waiver defense, and/or bar date, and/or any other similar legal or equitable defense, denial or objection, regarding the Released Claims or any of the Actions. The Parties hereby further stipulate to a stay of all Actions, the AG Subpoena, and the AG Investigation as to the El Paso Releasees pending on the Effective Date of the settlement memorialized by this Agreement, except as may be necessary to consummate this Agreement; provided, however, that the foregoing stipulation shall not preclude any Party hereto from seeking relief from parties other than the El Paso Releasees, or from continuing its participation in such proceedings or any other proceedings pending on the Effective Date of the settlement memorialized by this Agreement.