Common use of Limitation of Time Clause in Contracts

Limitation of Time. Any claim for which indemnity is sought hereunder shall be brought within two years from the date that such claim matures, but in no vent later than sixty (60) days following the expiration of the representations and warranties. The date of maturity of the claim shall be the later of (i) the date upon which the claimant becomes aware of the claim, (ii) the date upon which the claimant should have become aware of the claim in the exercise of reasonable diligence, or (iii) the date upon which the last element necessary for the assertion of the claim takes place.