Termination as a Result of a Force Majeure Event Clause Samples

The 'Termination as a Result of a Force Majeure Event' clause allows either party to end the contract if an unforeseeable and uncontrollable event—such as a natural disaster, war, or government action—prevents performance for a specified period. Typically, the clause outlines the types of events considered force majeure and sets a timeframe after which termination is permitted if the event continues to hinder contractual obligations. This clause provides a clear mechanism for parties to exit the agreement without penalty when circumstances beyond their control make fulfillment impossible, thereby allocating risk and ensuring fairness in extraordinary situations.
Termination as a Result of a Force Majeure Event. If as a result of a Force Majeure Event, a Party is unable to fully perform its obligations hereunder for any consecutive period of 180 days, the other Party shall have the right to terminate this Agreement in its entirety, upon providing written notice to the non-performing Party, such termination to be effective 30 days from the date thereof.
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Termination as a Result of a Force Majeure Event. (a) If this Agreement is terminated as a result of a Force Majeure Event or Change in Law covered by Sections 11.5(c) or 11.5(e), then the provisions of Section 14.1(c) (for all termination resulting from Change in Law other than pursuant to Sections 11.5(h)(iii)) or 14.1(e) (in case of termination pursuant to Sections 11.5(c) in respect of Political Force Majeure) or 14.1(f) (in the case of termination pursuant to Section 11.5(d)) shall be applied to determine whether compensation is to be paid by the GOB to the Company. (b) If the Company is required to proceed with a Restoration pursuant to Sections 11.5(a), 11.5(b), 11.5(c) or 11.5(d) and the Restoration has not been or will not be completed by the end of the Restoration Schedule (as such Restoration Schedule may have been extended due to an intervening Force Majeure Event), or within the Restoration Cost Estimate, then the Company may, and if the Restoration Cost Estimate or Restoration Schedule is expected to be exceeded by fifteen percent (15%), the Company shall, develop a revised cost estimate and schedule as soon as possible and provide an explanation of the delay or revised cost or both to the GOB. If the GOB agrees that the delay and revised schedule, or revised cost estimate are reasonable and do not result from negligence, fault or unnecessary delay by the Company, (whether in the preparation of the Restoration Schedule and Restoration Cost Estimate in light of the information reasonably available at the time, and under the circumstances under which the Restoration Cost Estimate and Restoration Schedule were required to be prepared), or in effecting the Restoration, or otherwise, the GOB shall continue making the payments pursuant to Section 11.5(a), including Principal Payments, if any (subject to repayment by the Company following the occurrence of the Commercial Operations Date pursuant to Section 11.5(a)). If the GOB does not accept the explanation or the revised schedule or cost estimate, the matter shall be referred to an Expert selected pursuant to Section 11.6 for resolution, and the GOB shall continue making the appropriate payments pending resolution of the Dispute by the Expert. The Expert shall make its determination with respect to the revised schedule or revised cost and the Company’s liability therefor within thirty (30) Days of such referral. If the Expert determines that the delay was not reasonable and that it was due to the Company’s negligence, fault, or unnecessary delay ...
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Termination as a Result of a Force Majeure Event. ‌ (a) If this Agreement is terminated as a result of a Force Majeure Event, then the provisions of Section 15.1 of the Implementation Agreement shall be applied to determine whether compensation is to be paid by the GOP to the Seller and the amount of such compensation. (b) If the Seller is required to proceed with a Restoration pursuant to Section 15.6 and the Restoration has not been or shall not be completed by the end of the Restoration Period (as such Restoration Period may have been extended due to an intervening Force Majeure Event), or within the Restoration Cost Estimate, then the Seller may, and if the Restoration Cost Estimate or Restoration Period is expected to be exceeded by fifteen percent (15%), the Seller shall, develop a revised cost estimate and schedule as soon as possible, and provide an explanation of the delay or revised cost or both to the Purchaser. If the Purchaser agrees that the delay and revised schedule, or revised cost estimate are reasonable and do not result from negligence, fault or unnecessary delay by the Seller (whether in the preparation of the Restoration Period and Restoration Cost Estimate in light of the information reasonably available at the time and under the circumstances under which the Restoration Cost Estimate and Restoration Period were required to be prepared, or in effecting the restoration, or otherwise), the Purchaser shall continue to make the payments required under this Article XV. If the Purchaser does not accept the explanation or the revised schedule or cost estimate, the matter shall be referred to an Expert selected pursuant to Section 15.7(c) for resolution, and the Purchaser shall continue to make the appropriate payments pending resolution of the dispute by the Expert. (c) The Expert shall make its determination with respect to the revised schedule or revised cost and the Seller’s liability therefor within thirty (30) Days of such referral. If the Expert determines that the delay was not reasonable and that it was due to the Seller’s negligence, fault or unnecessary delay, the Restoration Period shall not be revised and the provisions of Section 15.9(d) shall apply. If the Expert concludes that the delay was reasonable under the circumstances and not due to the negligence, fault or unreasonable delay of the Seller, the Expert shall fix the revised Restoration Period and Restoration Cost Estimate. If the revised Restoration Cost Estimate is more than one hundred and fifteen percent (115%) of t...
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Related to Termination as a Result of a Force Majeure Event

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • Termination due to Force Majeure 13.5.1 If the Force Majeure Event or its effects continue to be present beyond the period as specified in Article 4.5.3, either Party shall have the right to cause termination of the Agreement. In such an event, this Agreement shall terminate on the date of such Termination Notice.

  • Termination Notice for Force Majeure Event 21.7.1 If a Force Majeure Event subsists for a period of 60 (sixty) days or more within a continuous period of 120 (one hundred and twenty) days, either Party may in its discretion terminate this Agreement by issuing a Termination Notice to the other Party without being liable in any manner whatsoever, save as provided in this Article 21, and upon issue of such Termination Notice, this Agreement shall, notwithstanding anything to the contrary contained herein, stand terminated forthwith; provided that before issuing such Termination Notice, the Party intending to issue the Termination Notice shall inform the other Party of such intention and grant 15 (fifteen) days time to make a representation, and may after the expiry of such 15 (fifteen) days period, whether or not it is in receipt of such representation, in its sole discretion issue the Termination Notice.

  • Termination for continuing Force Majeure Event Either Party may, by written notice to the other, terminate this Framework Agreement if a Force Majeure Event endures for a continuous period of more than one hundred and twenty (120) Working Days.

  • Result of Termination Upon termination of this Agreement pursuant to this Section 6.6, Employer shall pay to Executive, on the Termination Date, an amount equal to (i) all accrued and unpaid salary and other compensation payable to Executive by Employer and all accrued and unused vacation and sick pay payable to Executive by Employer with respect to services rendered by Executive to Employer through the Termination Date; and, (ii) an amount equal to twelve (12) months salary based upon the then existing salary of Executive, payable in the same manner as salary would have been paid to Executive had he continued to work for Employer hereunder. In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, Employer shall continue to provide to Executive all other benefits that would otherwise be payable to Executive pursuant to Section 5.1 hereof for the twelve (12) months following the Termination Date.