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Tolling Agreement Template

Used 4,876 times

Tolling Agreement Template

Image 1

Prepared for:

Respondent: [Respondent.FirstName][Respondent.LastName]

Phone: [Respondent.Phone]

Email: [Respondent.Email]

Address: [Respondent.StreetAddress][Respondent.City], [Respondent.State][Respondent.PostalCode]

Prepared by:

Claimant: [Claimant.FirstName][Claimant.LastName]

Phone: [Claimant.Phone]

Email: [Claimant.Email]

Address: [Claimant.StreetAddress][Claimant.City], [Claimant.State][Claimant.PostalCode]

This Tolling Agreement (hereinafter referred to as the "Agreement") made and entered into this [Document.CreatedDate] by and between:

Name: [Claimant.FirstName][Claimant.LastName][Claimant.Company] (hereinafter referred to as "Claimant"), and

Name: [Respondent.FirstName][Respondent.LastName][Respondent.Company] (hereinafter referred to as "Respondent")

Claimant and Respondent are hereinafter referred to as “Parties” collectively in this Agreement.

Recitals

Claimant has filed an Action against Respondent in the Court of (court name) on the date of (mm/dd/yyyy) being Case Number (case number).

Respondent denies that it committed any of the acts alleged in the Complaint and intends to fully defend against the claims asserted in the Complaint.

Relevant Claim

The relevant claim is (describe the relevant claim; for example, a breach of contract claim).

Both Parties agree that, given the above-cited proceedings, they want to toll (or suspend) the running of any statute of limitations or any other deadlines or procedures which might otherwise apply to the relevant claim so that the Parties may engage in good faith settlement negotiations.

Tolling and Tolling Period

Claimant and the Respondent agree that the applicable statute(s) of limitations for any Claims that have arisen or may arise between them are hereby tolled and suspended from the date of this Agreement until (insert number, eg: 30, 60, 90) days or until (mm/dd/yyyy).

Terms and Conditions

  1. The Agreement will not be construed to damage, harm, or prejudice any party's legal rights or remedies, as expressly reserved.

  2. Both the Parties represent and warrant that they have the legal power and authority to enter into this agreement.

  3. Both Parties have had the opportunity to assess and review this agreement with the legal counsel of their choice prior to execution and agree to be bound by its provisions.

Non-Admission of Liability

Execution of this Agreement shall not be construed as an admission of any wrongdoing or liability by any Party concerning any Claim.

No Litigation

Parties agree to not initiate any litigation or any other proceeding concerning any Claim between the date this Agreement is in effect and the end of the tolling period.

Preservation of Rights

In the future, anything mentioned in this Agreement shall not waive the rights or remedies to which the Parties are, or will be, entitled under the law.

Severability

If in the event any term or provision stated in this Agreement is found to be void or unenforceable by a court of law or any other tribunal of competent jurisdiction, then that term or provision shall be severed from this Agreement.

Termination

Either Party can terminate this Agreement at any time for any reason, subject to a written notice to the other Party. Subsequently, the Agreement will be automatically terminated on the day the tolling period comes to an end.

Indemnification

From the effective date of this Agreement, the Parties agree to not indemnify, defend, hold harmless and release the other Party, and the other Party’s representatives from and against any claims, losses, liabilities, actions, demands, damages, judgments, settlements, costs, and expenses, in addition to reasonable attorneys' fees.

Amendments

This Agreement may not be altered, except in writing, and signed by both Parties.

No Partnership

No agency, partnership, or joint venture is implied or created by this Agreement.

Notices

Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given when delivered by hand, sent via email, or posted to the registered mail to the party to whom it is addressed.

No Waiver

The failure of any Party to this Agreement to enforce any provision of this Agreement at any time shall not be construed as a waiver of any such provision or of the right to thereafter enforce the same.

Governing Laws

This Agreement shall be governed by and construed under the laws of the State of [Respondent.State].

Agreed and Accepted

Signature
MM / DD / YYYY

Signature
MM / DD / YYYY

Respondent:

[Respondent.FirstName][Respondent.LastName]

Claimant:

[Claimant.FirstName]

[Claimant.LastName]

Tolling Agreement Template

Used 4,876 times

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