Limitation of Actions Clause Example from Business Contracts

This example Limitation of Actions clause appears in 5 contracts from 1 company

Limitation of Actions. The Optionee and the Company each acknowledge that every right of action accruing to the Optionee or the Company, as the case may be, and arising out of or in connection with this Agreement against the Optionee, on the one hand, or against the Company, on the other hand, shall, irrespective of the place where an action may be brought, cease and be barred by the expiration of twenty-four (24) months from the date of the act or omission in respect of which such right of action arises.