VRSN » Topics » STATUTE OF LIMITATIONS

This excerpt taken from the VRSN 10-K filed Mar 16, 2005.

STATUTE OF LIMITATIONS

 

9.1 All warranty claims of the PURCHASER under Section 6.1 shall become time-barred (verjährt) one year after the CLOSING DATE unless otherwise provided in this Section 9. Claims for breach of SPECIAL REPRESENTATIONS, excluding for TAXES, shall become time-barred four years after the CLOSING DATE. Claims for fraud and intentional misconduct shall become time-barred upon the earlier of (i) one year following the date when the PURCHASER has knowledge of such claim (ii) 10 years after the CLOSING DATE. Purchaser shall notify the SELLERS and the SAMWER BROTHERS of a claim for fraud promptly after the PURCHASER has reasonable and substantiated belief of such claim, provided, however, that any omission of such notice shall not effect the statute of limitations.

 

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9.2 All claims regarding TAXES under Section 6 and 7 shall become time-barred 6 months after the date of the final, non-appealable assessment of the relevant liability of the COMPANY or its SUBSIDIARIES.

 

9.3 All claims of the PURCHASER for breaches of covenants set out in Section 10 and 11 (with the exception of Section 11.6) shall become time-barred (verjährt) one year after the CLOSING DATE.

 

9.4 The aforesaid statute of limitations shall be suspended (gehemmt) within the meaning of § 209 German Civil Code (BGB) if the PURCHASER notifies a substantiated warranty claim in good faith to the SELLERS in writing before a warranty claim becomes time-barred. This suspension shall last for a period of 150 days and shall expire after this period if the PURCHASER does not file a law suit before the competent court.

 

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