Common use of Effect of Occurrence Clause in Contracts

Effect of Occurrence. In the event that either party is -------------------- rendered unable, wholly or in part, by force majeure applying to it, to carry out its obligations under this Agreement, it is agreed that such obligations of such party, so far as they are affected by such force majeure, shall be suspended during the continuance of any inability so caused, but for no longer period; provided that KEMET shall not be excused by any event of force majeure from making timely payments for Product delivered prior to the effective date of their notice of force majeure. The parties agree that the various periods and terms provided for herein shall be extended for a period equivalent to such period of force majeure. The party claiming that an event of force majeure has occurred will promptly notify the other party of the commencement and termination of any event of force majeure. Prompt notice of force majeure shall be given by the party invoking it to the other party, setting out the nature and full details thereof, the extent of the interruption and the anticipated duration of the interruption.

Appears in 1 contract

Samples: Palladium Sales Agreement (Stillwater Mining Co /De/)

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Effect of Occurrence. In the event that either party is -------------------- rendered unable, wholly or in part, by force majeure applying to it, to carry out its obligations under this Agreement, it is agreed that such obligations of such party, so far as they are affected by such force majeure, shall be suspended during the continuance of any inability so caused, but for no longer period; provided that KEMET Ford shall not be excused by any event of force majeure from making timely payments for Product Metal delivered prior to the effective date of their the notice of force majeure. The parties agree that the various periods and terms provided for herein shall be extended for a period equivalent to such period of force majeure. The party claiming that an event of force majeure has occurred will promptly notify the other party of the commencement and termination of any event of force majeure. Prompt notice of force majeure shall be given by the party invoking it to the other party, setting out the nature and full details thereof, the extent of the interruption and the anticipated duration of the interruption.

Appears in 1 contract

Samples: Platinum and Palladium Sales Agreement (Stillwater Mining Co /De/)

Effect of Occurrence. In the event that either party is -------------------- rendered unable, wholly or in part, by force majeure applying to it, to carry out its obligations under this Agreement, it is agreed that such obligations of such party, so far as they are affected by such force majeure, shall be suspended during the continuance of any inability so caused, but for no longer period; provided that KEMET Ford shall not be excused by any event of force majeure from making timely payments for Product Metal delivered prior to the effective date of their notice of force majeure. The parties agree that the various periods and terms provided for herein shall be extended for a period equivalent to such period of force majeure. The party claiming that an event of force majeure has occurred will promptly notify the other party of the commencement and termination of any event of force majeure. Prompt notice of force majeure shall be given by the party invoking it to the other party, setting out the nature and full details thereof, the extent of the interruption and the anticipated duration of the interruption.

Appears in 1 contract

Samples: Palladium Sales Agreement (Stillwater Mining Co /De/)

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Effect of Occurrence. In the event that either party is rendered -------------------- rendered unable, wholly or in part, by force majeure applying to it, to carry out its obligations under this Agreement, it is agreed that such obligations of such party, so far as they are affected by such force majeure, shall be suspended during the continuance of any inability so caused, but for no longer period; provided that KEMET GM shall not be excused by any event of force majeure from making timely payments for Product Metal delivered prior to the effective date of their notice of force majeure. The parties agree that the various periods and terms provided for herein shall be extended for a period equivalent to such period of force majeure. The party claiming that an event of force majeure has occurred will promptly notify the other party of the commencement and termination of any event of force majeure. Prompt notice of force majeure shall be given by the party invoking it to the other party, setting out the nature and full details thereof, the extent of the interruption and the anticipated duration of the interruption.

Appears in 1 contract

Samples: Palladium and Platinum Sales Agreement (Stillwater Mining Co /De/)

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