with truncate_only and with no_log allow you to truncate a log that has become disastrously short of free space. Neither option provides a means to recover transactions that have committed since the last routine dump.
WARNING! Run dump database at the earliest opportunity to ensure that your data can be recovered.
The following example truncates the transaction log for mydb and then dumps the database:
dump transaction mydb with no_log dump database mydb to ...
