Common use of Tolling Agreements Clause in Contracts

Tolling Agreements. ● Sample Provision 1: “Any time limitations set forth in Section 113(g)(1) of CERCLA, as amended, 42 U.S.C. § 9613(g)(1), Section 1012(h)(2) of the Oil Pollution Act, as amended, 33 U.S.C. § 2712(h)(2), the Federal Water Pollution Control Act, the New York Navigation Law, the New York Environmental Conservation Law, or any other federal or state statute or regulation with respect to potential claims for natural resource damages against BR PRP or any other time limitations for the filing of potential natural resource damages claims against BR PRP under any other applicable state or federal law are tolled in their entirety from the effective date of this Agreement until July 1, 2012 or until one hundred and twenty (120) days after the termination of this Agreement, whichever is earlier. Should one or more of the parties withdraw from this Agreement, this paragraph on tolling shall remain in force and effect as to the remaining parties. This Agreement does not toll any limitations periods that expired before the effective date of this Agreement, or reinstate any such claims that are time-barred, or prevent the use of the defense of any such expiration. The above provisions on tolling can be modified or extended by the Parties if agreed to in a separate writing.” (Source: Buffalo River Agreement)