Common use of Period of Limitation Clause in Contracts

Period of Limitation. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any affiliate of the Company against Indemnitee, Indemnitee's spouse, heirs, executors, or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, or such longer period as may be required by state law under the circumstances (i.e., a minimum limitation period that expressly may not be altered by agreement among the parties). Any claim or cause of action of the Company or any of its affiliates shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such period; provided, however, if any shorter period of limitation is otherwise applicable to any such cause of action, the shorter period shall govern.

Period of Limitation. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any affiliate of the Company against Indemnitee, Indemnitee's spouse, heirs, executors, or personal or legal representatives after the expiration of two years from the date of accrual of such cause causes of action, or such longer period as may be required by state law under the circumstances (i.e., a minimum limitation period that expressly may not be altered by agreement among the parties). Any claim or cause of action of the Company or any of its affiliates shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such period; provided, however, if any shorter period of limitation is otherwise applicable to any such cause of action, the shorter period shall govern.