Termination due to a Force Majeure Event Clause Samples

The 'Termination due to a Force Majeure Event' clause allows either party to end the contract if extraordinary events beyond their control—such as natural disasters, war, or government actions—make it impossible to fulfill contractual obligations. Typically, the clause outlines the types of events considered force majeure and may require a certain period of disruption before termination is permitted. Its core function is to allocate risk and provide a fair exit mechanism when unforeseen circumstances prevent performance, protecting both parties from liability in such situations.
Termination due to a Force Majeure Event. In case a Force Majeure Event subsists for a period of 180 (one hundred eighty) days or more within a continuous period of 365 (three hundred sixty five) days, either Party may in its sole discretion terminate this Agreement by giving 30 (thirty) days prior Termination Notice in writing to the other Party without being liable in any manner whatsoever.
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Termination due to a Force Majeure Event. (a) If a Force Majeure Event, not being a Force Majeure Event that prevents achievement of Financial Close as stipulated in Article 3.1 paragraph (c), lasts 180 Working Days without the Parties having reached agreement on the continuation of this Agreement, or once it becomes evident that the Agreement shall not be continued as a result of such a Force Majeure Event, either Party has the right to terminate the Agreement with immediate effect. (b) In the case of termination pursuant to paragraph (a), the Contracting Authority must pay the Contractor a compensation in accordance with Schedule 4 (Compensation for premature termination), paragraph 4 (Termination due to a Force Majeure Event).
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Related to Termination due to 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 for Force Majeure 15.5.1. The License Agreement may be terminated for Force Majeure Reasons as specified in Article -14.

  • 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 Payment for Force Majeure Event 30.9.1 If Termination is on account of a Non-Political Event, the Authority shall make a Termination Payment to the Concessionaire in an amount equal to 55% (fifty five per cent) of the Debt Due less Insurance Cover. 30.9.2 If Termination is on account of an Indirect Political Event, the Authority shall make a Termination Payment to the Concessionaire in an amount equal to: (a) 55% of the Debt Due less Insurance Cover; provided that if any insurance claims forming part of the Insurance Cover are not admitted and paid, then 80% (eighty per cent) of such unpaid claims shall be included in the computation of Debt Due; (b) 60.5% (sixty point five per cent) of the Adjusted Equity; and 30.9.3 If Termination is on account of a Political Event, the Authority shall make a Termination Payment to the Concessionaire in an amount that would be payable under Clause 33.3.2 as if it were Authority’s Default.