Common use of Occurrence of a Force Majeure Event Clause in Contracts

Occurrence of a Force Majeure Event. Upon the occurrence of an event of Force Majeure, if any party desires to invoke such Force Majeure Event as the reason for such party’s failure to perform any obligation hereunder, it shall promptly inform the other party of the occurrence of such event of Force Majeure and comply with the other provisions of this Section. No liability shall be borne by such party for any nonfulfillment or delay in the fulfilment of the undertakings arising out of this Agreement due to the event of Force Majeure for the entire period for which the event of Force Majeure will exist. The Force Majeure Event will postpone any terms for the fulfillments of the obligations of the parties for a period equal to the duration of the Force Majeure Event date. If, due to a Force Majeure Event, IP should be unable to meet its obligations hereunder as they become due, IP shall not discriminate against Sylvamo in favor of any other customers or in favor of any of other IP ▇▇▇▇▇.

Appears in 3 contracts

Sources: Fiber Purchase Agreement (Sylvamo Corp), Fiber Purchase Agreement (Sylvamo Corp), Fiber Purchase Agreement (Sylvamo Corp)