COMPENSATION EVENTS, RELIEF EVENTS AND FORCE MAJEURE Sample Clauses

COMPENSATION EVENTS, RELIEF EVENTS AND FORCE MAJEURE. 41COMPENSATION EVENTS If as a direct result of the occurrence of a Compensation Event: PPP Co. is unable to achieve Service Commencement on or before the Target Commencement Date; and/or PPP Co. is unable to comply with its obligations under this Project Agreement; and/or PPP Co. believes that it should be compensated for any Losses, it may have suffered or incurred; then PPP Co. is entitled to apply for an extension of the Target Completion Date and/or relief from its obligations and/or compensation under this Project Agreement. If PPP Co. claims relief or compensation or an extension of time under Clause 41.1 above, it must: as soon as practicable, and in any event within twenty-one (21) days of it becoming aware that the Compensation Event has caused or is likely to cause delay and/or breach of an obligation and/or Loss to PPP Co., give to the Authority a notice of its claim for an extension of the Target Completion Date, relief from its obligations, and/or payment of compensation and will provide sufficient details of the Compensation Event to enable the Authority to identify the nature and extent of the Compensation Event; and within fourteen (14) days after the notice referred to in Clause 41.2(a) (Compensation Events), give full details of the Compensation Event and the extension and/or any Estimated Increased Project Costs claimed and demonstrate to the reasonable satisfaction of the Authority that: the Compensation Event was the direct cause of the Estimated Increased Project Costs and/or any delay in the progress of the Works; and the Estimated Increased Project Costs, the time lost and/or breach of PPP Co.’s obligations could not reasonably be expected to be mitigated or recovered by PPP Co. acting in accordance with Good Industry Practice. Subject to PPP Co. complying with Clause 41.2 (Compensation Events) and such matters being agreed or otherwise being determined by the Dispute Resolution Procedure then: the Target Completion Date will be extended by such time as will be reasonable in respect of such a Compensation Event, taking into account the likely effect of delay; the Authority will not be entitled to exercise its rights in respect of the Compensation Event to terminate this Project Agreement under Clause 33 (Termination for PPP Co. Default); the Authority will give PPP Co. such relief from its obligations under this Project Agreement as is reasonable for such a Compensation Event; and the Authority will pay to PPP Co. an amount equal to...
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Related to COMPENSATION EVENTS, RELIEF EVENTS AND FORCE MAJEURE

  • Events of Force Majeure Neither Party shall be held liable or responsible to the other Party nor be deemed to be in default under, or in breach of any provision of, this Agreement for failure or delay in fulfilling or performing any obligation of this Agreement when such failure or delay is due to force majeure, and without the fault or negligence of the Party so failing or delaying. For purposes of this Agreement, force majeure is defined as causes beyond the control of the Party, including, without limitation, acts of God; acts, regulations, or laws of any government; war; civil commotion; destruction of production facilities or materials by fire, flood, earthquake, explosion or storm; labor disturbances; epidemic; and failure of public utilities or common carriers. In such event Medistem or Licensee, as the case may be, shall immediately notify the other Party of such inability and of the period for which such inability is expected to continue. The Party giving such notice shall thereupon be excused from such of its obligations under this Agreement as it is thereby disabled from performing for so long as it is so disabled and the 30 days thereafter. To the extent possible, each Party shall use reasonable efforts to minimize the duration of any force majeure.

  • Train Operator Events of Default The following are Train Operator Events of Default:

  • Reporting of Non-Force Majeure Events Each Party (the “Notifying Party”) shall notify the other Parties when the Notifying Party becomes aware of its inability to comply with the provisions of this Agreement for a reason other than a Force Majeure event. The Parties agree to cooperate with each other and provide necessary information regarding such inability to comply, including the date, duration, reason for the inability to comply, and corrective actions taken or planned to be taken with respect to such inability to comply. Notwithstanding the foregoing, notification, cooperation or information provided under this Article shall not entitle the Party receiving such notification to allege a cause for anticipatory breach of this Agreement.

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Default Events and Termination 18.1 Each of the following circumstances shall constitute a General Default:

  • Duration of relief for force majeure The right of an Affected Party to relief under Clause 17.2 shall cease on the earlier of:

  • Compensation Events 44.1 The following are Compensation Events unless they are caused by the Contractor:

  • No Default for Force Majeure Neither Party will be in default in the performance of any of its obligations set forth in this Agreement, except for obligations to pay money, when and to the extent failure of performance is caused by Force Majeure.

  • FORCE MAJEURE; OTHER CHANGES IN CONDITIONS 19.1 In the event of and as soon as possible after the occurrence of any cause constituting force majeure, the affected Party shall give notice and full particulars in writing to the other Party, of such occurrence or cause if the affected Party is thereby rendered unable, wholly or in part, to perform its obligations and meet its responsibilities under the Contract. The affected Party shall also notify the other Party of any other changes in condition or the occurrence of any event which interferes or threatens to interfere with its performance of the Contract. Not more than fifteen (15) days following the provision of such notice of force majeure or other changes in condition or occurrence, the affected Party shall also submit a statement to the other Party of estimated expenditures that will likely be incurred for the duration of the change in condition or the event of force majeure. On receipt of the notice or notices required hereunder, the Party not affected by the occurrence of a cause constituting force majeure shall take such action as it reasonably considers to be appropriate or necessary in the circumstances, including the granting to the affected Party of a reasonable extension of time in which to perform any obligations under the Contract.

  • Available Relief for a Force Majeure Event 11.7.1 Subject to this Article 11:

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