Common use of Enforced Delay; Extension of Times for Performance Clause in Contracts

Enforced Delay; Extension of Times for Performance. In the event that either of the Parties are prevented from proceeding with any of their obligations under this Agreement by reason of events beyond that Party's control, such as supernatural causes, strikes, lockouts, earthquake, war, insurrection, riots, floods, acts of God, acts of the public enemy, epidemics, quarantine restrictions, freight embargoes, unusually severe weather, delays or inaction of independent contractors, litigation brought against the Property or a Party without the Party's consent, including a challenge, remediation of hazardous materials located upon the Property, or similar events which are beyond that Party's control, then that Party shall be entitled to an additional grace period or extension of time in which to perform the obligations whose performance is precluded by such event, equal to the period of delay caused by such event beyond that Party's control, which period shall commence to run from the time of the commencement of the cause for delay and shall terminate upon termination of that cause. A Party wishing to invoke this subparagraph shall notify in writing the other Party to this Agreement of that intention within thirty (30) days of commencement of any such cause for delay and shall, at that time, specify the reasons therefor, the provisions of this Agreement that will be delayed as a result, and the period of such extension, if known, or, if not known, the Party's best estimate thereof. The failure to so notify the other Party within that period as to the cause for delay shall result in the grace period commencing to run from the date of notice rather than from the commencement of the cause for delay.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement

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Enforced Delay; Extension of Times for Performance. In the event that either any of the Parties to this Agreement are prevented from proceeding with any of their obligations under this Agreement by reason of events that are completely and strictly beyond that Party's ’s control, such as supernatural causes, strikes, lockouts, earthquake, war, insurrection, riots, floods, acts of God, acts of the public enemy, epidemics, quarantine restrictions, freight embargoes, unusually severe weather, delays or inaction of independent contractors, delays caused by a shortage of materials or skilled labor due to circumstances beyond Owner’s control, delays caused by actions or omissions of the City or any public or governmental entity (provided that the acts of, or failure to act by, the City shall not excuse performance by the City), litigation brought against the Property Site or the Hotel or a Party without the that Party's ’s consent, including a land use challenge, remediation of hazardous materials Hazardous Materials‌ located upon the PropertySite, or similar events which are completely and strictly beyond that Party's ’s control, then that Party shall be entitled to an additional grace period or extension of time in which to perform the obligations whose performance is precluded by such event, equal to the period of delay caused by such event beyond that Party's ’s control, which period shall commence to run from the time of the commencement of the cause for delay and shall terminate upon termination of that cause. A Party wishing to invoke this subparagraph Section shall notify in writing the other Party Parties to this Agreement of that intention within thirty one hundred eighty (30180) days of the commencement of any such cause for delay and shall, at that time, specify the reasons therefor, the provisions of this Agreement that will be delayed as a result, and the period of such extension, if known, or, if not known, the Party's party’s best estimate thereof. The failure to so notify the other Party Parties within that period as to the cause for delay shall result not constitute a waiver of any right to later rely upon this Section with respect to that cause. Notwithstanding and in addition to the above, in the grace event any administrative or legal claim is filed challenging the City’s approval of this Agreement, and/or the Hotel, all times for performance set forth herein shall be automatically extended by a period commencing of time equal to run the period of time from the date such claim or action is filed until the date said claim or action, including any appeal thereof, is finally resolved, plus ninety (90) days, and, to the extent permitted by law, this Agreement shall remain in full force and effect and shall not be subject to termination by either party during such period of notice rather than from the commencement of the cause for delaytime.

Appears in 1 contract

Samples: Operating Covenant Agreement

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Enforced Delay; Extension of Times for Performance. In the event that either any of the Parties to this Agreement are prevented from proceeding with any of their obligations under this Agreement by reason of events that are completely and strictly beyond that Party's ’s control, such as supernatural causes, strikes, lockouts, earthquake, war, insurrection, riots, floods, acts of God, acts of the public enemy, epidemics, quarantine restrictions, freight embargoes, unusually severe weather, delays or inaction of independent contractors, delays caused by a shortage of materials or skilled labor due to circumstances beyond Owner’s control, delays caused by actions or omissions of the City or any public or governmental entity (provided that the acts of, or failure to act by, the City shall not excuse performance by the City), litigation brought against the Property Site or a Party without the that Party's ’s consent, including a land use challenge, remediation of hazardous materials Hazardous Materials located upon the PropertySite, or similar events which are completely and strictly beyond that Party's ’s control, then that Party shall be entitled to an additional grace period or extension of time in which to perform the obligations whose performance is precluded by such event, equal to the period of delay caused by such event beyond that Party's ’s control, which period shall commence to run from the time of the commencement of the cause for delay and shall terminate upon termination of that cause. A Party wishing to invoke this subparagraph Section shall notify in writing the other Party Parties to this Agreement of that intention within thirty (30) days of the commencement of any such cause for delay and shall, at that time, specify the reasons therefor, the provisions of this Agreement that will be delayed as a result, and the period of such extension, if known, or, if not known, the Party's party’s best estimate thereof. The failure to so notify the other Party Parties within that period as to the cause for delay shall result constitute a waiver of any right to later rely upon this Section with respect to that cause. In the event any such extension continues for more than one hundred and eighty (180) days, any Party not then in Default of its obligations hereunder, shall be entitled to terminate this Agreement upon written notice to the grace period commencing other and, in that event, the Parties shall have no further obligations hereunder. 819. Record of Extensions; Effect of Extension on Schedule of Performance. Any Party is also entitled, as often as reasonably required, to run request any other Party to confirm in writing the then applicable deadlines for performance of each Party’s obligations or the exercise of each Party’s rights under this Agreement, and each Party shall, within twenty (20) days after receipt of such a written request, respond thereto. The failure of a Party to respond to a request from another Party under this Section as required above shall constitute a waiver of any right to later rely on any asserted extension(s) inconsistent with the date of notice rather than from the commencement of the cause for delaydeadlines set forth in such written request.

Appears in 1 contract

Samples: Economic Assistance Agreement

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