EXCEPTIONAL EVENTS Sample Clauses
The Exceptional Events clause defines how parties should respond when unforeseen circumstances, such as natural disasters or government actions, prevent them from fulfilling their contractual obligations. Typically, this clause outlines the types of events considered exceptional, the notification process required, and the temporary suspension or modification of duties during the event. Its core function is to allocate risk and provide a fair mechanism for handling disruptions beyond the parties' control, ensuring that neither side is unfairly penalized for events they could not anticipate or prevent.
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EXCEPTIONAL EVENTS. If a Borrower’s Vessel:
(a) suffers a Major Casualty Event and the Intercreditor Agent has not approved a Repair Plan submitted by the relevant Borrower for the repair of the relevant Vessel in accordance with Clause 19.34;
(b) suffers a Total Loss; or
(c) otherwise is lost, sold or otherwise disposed of by such Borrower, then on the earlier to occur of:
(i) the date on which such Borrower receives any insurance or other proceeds in respect of such Major Casualty Event, Total Loss or other loss, sale or other disposal by such Borrower; and
(ii) the date falling 180 days after such Major Casualty Event, Total Loss or other loss, sale or other disposal by such Borrower, the Available Commitments automatically shall be cancelled by an amount equal to the maximum amount stated in Clause 2.1 in respect of such Borrower’s Term Loan (as such amount may have been reduced in accordance with this Agreement (including pursuant to Clause 4.3(c), Clause 5.6 or Clause 5.10)) minus the participation of each Lender in each outstanding Loan under such Term Loan. Upon such cancellation the participation of each Lender in each outstanding Loan under such Term Loan, together with accrued interest, and all other amounts accrued under the Finance Documents, immediately shall be due and payable by such Borrower. For the avoidance of doubt, no cancellation of the Available Commitments will occur and no prepayment of the Relevant Borrower’s Term Loan will be required in accordance with this Clause 5.9 following a Major Casualty Event if the relevant Vessel affected by such Major Casualty Event has become a Released Vessel in accordance with Clause 5.17.
EXCEPTIONAL EVENTS. 26.1 We will not be liable to you for any delay in performance, or for the non-performance of any of our obligations under this Agreement by reason of any cause that is beyond our reasonable control, a "Force Majeure Event".
26.2 A Force Majeure Event will include, but is not limited to, the following:
(a) any act, event or occurrence (including without limitation any strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from maintaining an orderly market in one or more of the Instruments in respect of which we ordinarily deal in Transactions;
(b) the suspension or closure of any market or the abandonment or failure of any event on which we base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event;
(c) the occurrence of an excessive movement in the level of any Transaction and/or the Underlying Market or our anticipation (acting reasonably) of the occurrence of such a movement;
(d) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure;
(e) failure of any relevant supplier, intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self- regulatory organisation, for any reason, to perform its obligations.
26.3 If we determine in our reasonable opinion that a Force Majeure Event has occurred or is occurring, and we deem such action necessary in our reasonable discretion to protect our interests or those of our clients and other customers, we may at any time and without notice:
(a) treat any or all Transactions that are then outstanding as having been cancelled and terminated;
(b) sell or otherwise convert any Position under our control into monies in such manner as we reasonably consider necessary or appropriate; and/or
(c) close out, replace or reverse any or all Transactions, enter into any other Transaction or take, or refrain from taking, such other action at such times and in such manner as we consider necessary or appropriate to cover, reduce or eliminate our loss or liability under or in respect of any contracts, Positions or commitments.
26.4 Upon the occurrence of a Force Majeure Event we will use commercially reasonable efforts to resume norma...
EXCEPTIONAL EVENTS. 6.1 Where an Operator (the “Affected Operator”) notifies the other Operator of the occurrence of an Exceptional Event on a Gas Day which requires the reduction of Confirmed Nomination Quantities or Daily CNQ (as applicable), the Affected Operator shall adjust:
(a) Processed NTS Nomination Quantities in accordance with the Uniform Network Code where it is National Grid Gas; or
(b) Processed IUK Nomination Quantities in accordance with IUK Transportation Arrangements where it is IUK.
6.2 IUK shall apply the lesser rule as set out in paragraph 5.3.3(b)(i) to determine revised matched quantities where an Exceptional Event is notified under paragraph 6.1 and from such revised matched quantities, determine revised Confirmed Nomination Quantities.
6.3 Upon cessation of an Exceptional Event, the Affected Operator shall issue a Resumption Notice to the other Operator.
6.4 National Grid Gas shall notify the National Grid Gas Shippers and IUK shall notify the IUK Shippers of the expected and actual end of the Exceptional Event.
EXCEPTIONAL EVENTS. The Local Agency will assist DARM with any data gathering, information gathering, data analysis, or information gathering needed to attribute an exceedance of the NAAQS or a violation of the NAAQS to one or more exceptional events. Exceptional events are unusual or naturally occurring events that can affect air quality but are not reasonably controllable using techniques that state or local air agencies may implement in order to attain and maintain the NAAQS. As the state’s PQAO, DARM is responsible for determining if air quality monitoring data have been influenced by exceptional events and reporting any such exceptional events to EPA.
EXCEPTIONAL EVENTS. In case of an exceptional event, the system operators shall contact each other as soon as possible using communication means which shall facilitate fast and simultaneous communication (per default, telephone call for information, followed by a written confirmation) in respect of the possible impact on the quantities and quality of gas that can be transported over the connection point. The system operators shall coordinate the necessary actions with a view to correcting the event with as minimal effect upon shippers as possible. As far as reasonably practicable there shall be consistent and simultaneous communication between system operators and affected shippers.
EXCEPTIONAL EVENTS. 29.1 An "Exceptional Event" includes:
(a) any fire, strike, riot, civil unrest, terrorist act, war or industrial action;
(b) any natural disaster such as floods, tornadoes, earthquakes and hurricanes;
(c) any epidemic, pandemic or public health emergency of national or international concern;
(d) any act or regulation made by a government, supra national body or authority that we believe stops us from maintaining an orderly market in relation the instruments traded on the trading platform;
(e) the suspension or closure of any exchange;
(f) the nationalisation of any exchange by a government;
(g) the imposition of limits or unusual terms by a government on any instrument and/or its derivative traded on our platform;
(h) the abandonment or failure of any instrument that we use to make our quotes;
(i) excessive changes to the price, supply or demand of any product. We may also call an Exception Event where we anticipate this change (within reason);
(j) technical failures in transmission, communication or computer facilities including power failures and electronic or equipment failures;
(k) the failure of any supplier, intermediate broker, agent, principal custodian, sub-custodian, dealer, exchange, clearing house or regulatory organisation to perform its obligations to us;
(l) liquidity providers not providing, or being unable to provide liquidity to us. Liquidity describes the degree to which a product can be quickly bought or sold at a price reflecting its appropriate value; and/or
(m) an event which significantly disrupts the market, which could include (but is not limited to) the premature close of trading in the market of a product, excessive movements in the price, supply or demand of a product, whether regulated or unregulated, that our Services relate to.
29.2 If an Exceptional Event happens, the availability and speed of our service, including our platform, website, our execution of your order, the availability of the different functionalities which we may provide as part of our Services including instructions which you may give in respect of a trade, as well as any of our obligations under this Agreement may be delayed, may not be available, or may not be carried out. We will not be liable to you for any losses which you incur as a result.
29.3 If we think, in our reasonable opinion, that an Exceptional Event has occurred or is occurring, we may make the following changes to your Global Exchange fx account without telling you:
(a) change your margin ...
EXCEPTIONAL EVENTS. The President or the Vice-President, Finance may in their discretion impose a blackout period in light of any pending news release relating to a significant event. The blackout period will normally terminate two business days after the date of the relevant news release. Prior to such Blackout Periods, management will limit access to information of the nature described above to those individuals that need to know in order to perform their duties and to bring the matter to completion. Such individuals are expected to adhere to the General Guideline.
EXCEPTIONAL EVENTS. Staff may be reduced in an appropriate manner due to the occurrence of exceptional events such as State mid-year funding reductions, building closures, etc.
EXCEPTIONAL EVENTS. 38.1 In the event of the death or legal incapacity of the Customer, business relations with us shall continue until to be notified in writing, by registered mail, of such event, such notification being effective as of the first Business Day following the day of actual receipt of such notification by us or until we receive information about the death of the Customer through an official source. Where we will be informed about the death of the Customer, your Account will be frozen. The provisions of the GTCs will continue to bind the estate of the deceased until the Account to be closed. As long as no such formal notice has been given, we may not be held liable for its acts of administration or disposition on the basis of instructions received from the agents of the deceased or incapacitated Customer. We reserve the right to request additional documentation in relation to the death of a Customer.
38.2 In the case of a joint Account opened in the name of two or more natural persons, upon death of any one of such persons, we will consider the survivor/s as the only person/s entitled to the funds of the joint Account unless it has been provided otherwise. Where the joint Account is, according to the Customer instructions, required to be operated by two or more persons, we will only accept instructions from the remaining Account holders once we receive a formal notice of death and any other requested documents. Unless we have evidence of death from an official source, we reserve the right to request formal notification of death. Where all co-holders of a joint Account have died, the joint Account will be frozen. These GTC will continue to bind the estate of the deceased until such time as it is closed. As long as no formal notice has been given, we may not be held liable for its acts of administration or disposition on the basis of instructions received from the agents of the deceased or incapacitated Customer. We reserve the right to request additional documentation in relation to the death of a Customer.
38.3 The persons authorised to represent the deceased or incapacitated Customer shall, except for joint Accounts or if otherwise provided in the law, replace the Customer in the relationship with us, after the appropriate documents proving their rights have been produced and have been found, in form and substance, satisfactory to us. We may require evidence of probate or such other evidence and documentation as it may consider is reasonably necessary in respect...
EXCEPTIONAL EVENTS. In case of an exceptional event, the IOs will contact each other as soon as possible and coordinate the necessary actions with a view to correcting the event with as minimal effect upon shippers as possible. As far as reasonably practicable there shall be consistent and simultaneous communication between IOs and affected shippers.