The default time for executing actionscript file is 15 sec’s and if the the file takes more that 15 sec’s it throws an Runtime Exception, Error #:1502, as below.

If you want Script to execute more than the default time then we need to specify the time limit at the main Application tag .
The property to use is: scriptTimeLimit as follows, in application tag we have to add,
<mx:Application xmlns:mx=”http://www.adobe.com/2006/mxml” layout=”absolute” scriptTimeLimit=”50″>
It takes the value for sec’s specification, in the above code I have set the execution time limit to 50 sec’s. And the max value it can have is 60 sec. It means that the Script can be executed for maximum 60 sec’s.
Happy Flexing…:-)