Common use of Time Limitation for Claims Clause in Contracts

Time Limitation for Claims. The Seller shall not be liable under this Agreement for breach of any Seller’s Warranty in respect of any claim unless a notice of the claim is given by the Purchaser to the Seller specifying the matters set out in Clause 11.2: 10.1.1 in the case of a claim under paragraphs 1 and 2.2 of Schedule 14, within the applicable statutory limitations period; 10.1.2 in the case of a claim under paragraph 3 of Schedule 14, within 6 years of the Closing Date; 10.1.3 in respect of claims under the Tax Warranties, before the date falling six months after the expiry of the period specified by statute during which an assessment of the relevant liability to Tax may be issued by the relevant Tax Authority; and 10.1.4 in the case of any other claim, within two years of the Closing Date.

Time Limitation for Claims. The Seller shall not be liable under this Agreement or any Local Transfer Document for breach of any Seller’s Warranty or under the Tax Indemnity in respect of any claim unless a notice of the claim is given by the Purchaser to the Seller specifying the matters set out in Clause 11.2: 10.1.1 10.2.1 in the case of a claim under paragraphs 1 and 2.2 1, 2.1 or 2.3 of Schedule 1416, within 5 years from the applicable statutory limitations periodClosing Date; 10.1.2 10.2.2 in the case of a claim under paragraph 3 of Schedule 14, within 6 years of the Closing Date; 10.1.3 in respect of claims under the Tax WarrantiesWarranties or Tax Indemnity, before the date falling six 6 months after the expiry of the period specified by statute during which an assessment of the relevant that liability to Tax may be issued by the relevant Tax AuthorityAuthority (assuming the absence of fraud or wilful wrongdoing); and 10.1.4 10.2.3 in the case of any other claim, within two years of 18 months from the Closing Date.