Edit title in the Tolling Agreement

Aug 6th, 2022
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Both parties must agree on when the suspension will end when the course is set. Typically, the agreement tolls the litigation by 90 days or three months. If the suspension ends and the plaintiff has not filed a claim, the defendant can use this as a defense to state that the statute of limitations has expired.
What to Include in a Tolling Agreement Party Information: the identity of the parties to the agreement; Start Date: the date the agreement is effective; End Date: the date the agreement expires or terminates;
While tolling agreements have benefits, they may also have drawbacks, such as potential conflicts with court scheduling orders or leading to more protracted litigation if counterclaims are postponed.
Tolling refers to stopping a time period from running. The term is often used to describe a tolling agreement that puts a pause on the statute of limitations. The statute of limitations normally establishes a time limit within which a person can bring a legal cause.
Right to Pursue Claims/Termination. Any Party to this Agreement may terminate the Tolling Period under this Agreement by delivering notice in writing declaring such termination, in which event the Tolling Period under this Agreement shall terminate thirty (30) days from the date of actual receipt of such notice.
Summary: Tolling is a new model of LNG plant operation. Under tolling, a customer (natural gas supplier) pays a toll to run gas through a liquefaction plant owned by another company. The plant owner is merely interested in providing the liquefaction services and collecting the toll.
A tolling agreement establishes a deadline for the parties to negotiate before a plaintiff must file suit to enforce legal rights. Typically, neither side wants to spend energy and money proving their case in court. Thus, a tolling agreement pushes the parties towards compromising their positions and settling.

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