Common use of Tolling of Statute of Limitations Clause in Contracts

Tolling of Statute of Limitations. Each and every statute of limitations or other applicable law, rule or regulation governing the time by which Agent must commence legal proceedings or otherwise take any action against Borrower or any Obligor with respect to any breach or default that exists on or prior to the expiration or termination of the Forbearance Period and arises under or in respect of the Loan Agreement or any other Loan Document shall be tolled during the Forbearance Period. Borrower and each Obligor agrees, to the fullest extent permitted by law, not to include such period of time as a defense (whether equitable or legal) to any legal proceeding or other action by Agent in the exercise of its rights or remedies referred to in the immediately preceding sentence.

Tolling of Statute of Limitations. Each and every statute of limitations or other applicable law, rule rule, or regulation governing the time by which Agent the Lender must commence legal proceedings or otherwise take any action against Borrower or any Obligor the Company with respect to any breach or default that exists on or prior to the expiration or termination of the Forbearance Period and arises under or in respect of the Loan Exchange Agreement or any other Loan Transaction Document (as defined in the Exchange Agreement) shall be tolled during the Forbearance Period. Borrower and each Obligor The Company agrees, to the fullest extent permitted by law, not to include such period of time as a defense (whether equitable or legal) to any legal proceeding or other action by Agent the Lender in the exercise of its rights or remedies referred to in the immediately preceding sentence.

Tolling of Statute of Limitations. Each and every statute of limitations or other applicable law, rule rule, or regulation governing the time by which Agent must commence legal proceedings or otherwise take any action against Borrower or any Obligor Guarantor with respect to any breach or default that exists on or prior to the expiration or termination of the Forbearance Period and arises under or in respect of the Loan Credit Agreement or any other Loan Document shall be tolled during the Forbearance Period. Borrower and each Obligor Guarantor agrees, to the fullest extent permitted by law, not to include such period of time as a defense (whether equitable or legal) to any legal proceeding or other action by Agent in the exercise of its rights or remedies referred to in the immediately preceding sentence.