Common use of Statue of Limitations Clause in Contracts

Statue of Limitations. Any acknowledgement or new promise, --------------------- whether by payment of principal or interest or otherwise and whether by the Company or others (including Guarantor), with respect to any of the Guaranteed Obligations shall, if the statute of limitations in favor of Guarantor against the Guaranteed Parties shall have commenced to run, toll the running of such statute of limitations, and if the period of such statute of limitations shall have expired, prevent the operation of such statute of limitations.