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Definition of Tolling agreement
1. Noun. (business) An agreement by a toller with an owner of raw materials to process the raw material for a specified fee ("toll") into a product with the raw material and the product remaining the property of the provider of the raw material. ¹
2. Noun. (legal) An agreement that has the effect of tolling or suspending the course of a fixed period of time, as a statute of limitations. ¹
¹ Source: wiktionary.com