Catastrophe Events Clause Samples

Catastrophe Events. If, as of the date on which the Closing would otherwise occur pursuant to Section 2.06 above, one or more CAT Events has occurred during the Measurement Period and Parent, acting in accordance with the Agreed Standard, believes that Net CAT Losses arising from such CAT Events may reasonably be likely to exceed the Specified Amount but that more time is needed to determine more accurately the amount of such Net CAT Losses, then Parent may delay the Closing for up to 30 days by delivering a written notice to such effect to the Company. If Parent validly exercises its right to delay the Closing pursuant to this Section 2.07, then, unless the parties otherwise agree, the Closing will not occur prior to the date that is 30 days after the date of such notice. Parent may not exercise its right to delay the Closing pursuant to this Section 2.07 more than once. If, at or after the end of such 30-day period, all conditions to the Closing have been satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of those conditions at such time), then, unless the parties otherwise agree in writing or Parent has validly exercised its Determination Right pursuant to Section 6.18, the Closing will occur on the first business day after the end of such 30-day period.
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Related to Catastrophe Events

  • Sabotage (a) Sabotage is of concern to all Parties involved on any work site and may affect safety, and therefore both the physical and mental wellbeing of all persons on site. (b) The Parties to this Agreement will not tolerate sabotage and will ensure that any person/s responsible for such action is immediately dismissed. (c) It is accepted that the relevant authorities may have to be notified, and provisions of the OH&S Act implemented. (d) In the event of a reasonable suspicion or proven sabotage consultation will occur between the Parties on a reasonable time frame up to a maximum of 4 hours to rectify the issue prior to Employees leaving the Project.

  • Force Majeure Events a) Neither Party shall be responsible or liable for or deemed in breach hereof because of any delay or failure in the performance of its obligations hereunder (except for obligations to pay money due prior to occurrence of Force Majeure events under this Agreement) or failure to meet milestone dates due to any event or circumstance (a "Force Majeure Event") beyond the reasonable control of the Party experiencing such delay or failure, including the occurrence of any of the following: i) acts of God; ii) typhoons, floods, lightning, cyclone, hurricane, drought, famine, epidemic, plague or other natural calamities; iii) acts of war (whether declared or undeclared), invasion or civil unrest; iv) any requirement, action or omission to act pursuant to any judgment or order of any court or judicial authority in India (provided such requirement, action or omission to act is not due to the breach by the SPG or of any Law or any of their respective obligations under this Agreement); v) inability despite complying with all legal requirements to obtain, renew or maintain required licenses or Legal Approvals; vi) earthquakes, explosions, accidents, landslides; fire; vii) expropriation and/or compulsory acquisition of the Project in whole or in part by Government Instrumentality; viii) chemical or radioactive contamination or ionizing radiation; or ix) damage to or breakdown of transmission facilities of GETCO/ DISCOMs; x) Exceptionally adverse weather condition which are in excess of the statistical measure of the last hundred (100) years.

  • Pandemic An epidemic that spreads over a wide area, crossing borders and defined as a pandemic by the World Health Organisation (WHO) and/or by the competent local authorities of the country where the loss occurred. Isolation of the person, in the event of suspected illness or proven illness, decided by a competent local authority, in order to avoid a risk of spreading said illness in the context of an epidemic or pandemic.

  • Explosion Riot or civil commotion.

  • DISTURBANCES Tenant and all other occupants will be required to vacate the premises and forfeit the rental fee and security deposit for any of the following: Occupancy exceeding the agreed upon number people, using the premises for any illegal activity, causing damage to the premises rented or to any of the neighboring properties and any other acts which interferes with neighbors' right to quiet enjoyment of their premises. HOLD HARMLESS iTrip or the Owner, does not assume any liability for loss, damage or injury to persons or their personal property. Neither does owner accept any liability for any inconveniences, damage, loss or injury arising from any temporary defects or stoppage in supply of water, gas, cable service, electricity or plumbing, as well as due to weather conditions, natural disasters, acts of God, or other reasons beyond its control.