Common use of ONE YEAR LIMITATION PERIOD Clause in Contracts

ONE YEAR LIMITATION PERIOD. YOU MUST INITIATE ANY PROCEEDING OR ACTION WITHIN ONE (1) YEAR OF THE DATE OF THE OCCURRENCE OF THE EVENT OR FACTS GIVING RISE TO A DISPUTE OR YOU WAIVE THE RIGHT TO PURSUE ANY CLAIM BASED ON SUCH EVENTS OR FACTS. FOR BILLING DISPUTES, SUBJECT TO APPLICABLE LAW AND OUR BINDING LEGAL OBLIGATIONS, YOU MUST NOTIFY US WITHIN 120 DAYS OF THE DATE ON THE BILL YOU ARE DISPUTING OR YOU WAIVE THE RIGHT TO DISPUTE THE BILL.