A tolling agreement is an important legal document that outlines the conditions under which a statute of limitations can be extended. In California, tolling agreements are commonly used in civil litigation cases to allow parties to continue negotiating and potentially reach a settlement, without losing the right to sue or be sued.
If you’re drafting a tolling agreement in California, it’s essential to understand the legal requirements and standard clauses in the document. Here’s a sample tolling agreement template that you can use as a reference point:
Tolling Agreement Sample California
This Tolling Agreement (the «Agreement») is made and entered into on [date] by and between [Party A] and [Party B] (collectively the «Parties»).
1. Purpose of Agreement
The Parties acknowledge that there are existing or potential claims, causes of action, and disputes between them. The Parties wish to toll the applicable statutes of limitation and other time limitations governing such claims or disputes to allow for ongoing settlement negotiations and potential resolution without lawsuit.
2. Tolling Period
The Parties agree to toll all applicable statutes of limitation and other time limitations governing the claims or disputes mentioned in Section 1 for a period of [insert number of days or months] from the date of this Agreement. The Parties may agree to extend the tolling period in writing.
3. No Waiver of Rights
This Agreement shall not be construed as a waiver of any rights, claims, or defenses of either Party. The Parties expressly reserve all rights and remedies they may have.
The Parties agree to maintain the confidentiality of this Agreement and all discussions and negotiations related to it, except as required by law or court order.
5. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
6. Entire Agreement
This Agreement constitutes the entire understanding and agreement between the Parties, and supersedes all prior negotiations, understandings, and agreements, whether written or oral, relating to the subject matter of this Agreement.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
[Party A] _____________________ [Party B] __________________________
[Name] _______________________ [Name] ___________________________
[Title] ________________________ [Title] ____________________________
[Date] _______________________ [Date] ____________________________
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