Excuse from Performance; Notice. If either Party is rendered wholly or partially unable to perform its obligations under the Agreement because of a Force Majeure Event, that Party shall be excused from whatever performance is affected by the Force Majeure Event to the extent so affected. The Party impacted by the Force Majeure Event shall promptly give the other Party notice describing the particulars of the occurrence. In no event shall the notice be more than three (3) days after the affected Party becomes aware of such occurrence. Within ten (10) days after such occurrence, the non-performing Party shall give the other Party written notice estimating the expected duration and probable impact on the performance of such Party’s obligations hereunder. The non- performing Party shall continue to furnish timely regular reports with respect thereto during the continuation of the Force Majeure Event. The suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event. The non-performing Party shall exercise all reasonable efforts to mitigate or limit damages to the other Party. As soon as the non-performing Party can resume performance of its obligations hereunder, that Party shall give the other Party written notice to that effect and shall promptly resume performance. If a Force Majeure Event exceeds thirty (30) days, or is reasonably anticipated by agreement of the Parties to exceed thirty (30) days, Company shall have the right to terminate this Agreement upon giving Contractor five (5) days written notice for profit.
Appears in 4 contracts
Samples: Contract Agreement, Contract Agreement, Contract Agreement
Excuse from Performance; Notice. If either Party is rendered wholly or partially unable to perform its obligations under the this Agreement because of a Force Majeure Event, that Party shall be excused from whatever performance is affected by the Force Majeure Event to the extent so affected. The Party impacted by the Force Majeure Event shall promptly give the other Party written notice describing the particulars of the occurrence. In no event shall the notice be more than three five (35) days Business Days after the affected Party becomes aware of such occurrence. Within ten Promptly thereafter and no later than twenty (1020) days after such occurrence, the non-performing Party shall give the other Party written notice estimating the expected duration and probable impact on the performance of such Party’s obligations hereunder. The non- performing Party shall , and continue to furnish timely regular reports with respect thereto during the continuation of the Force Majeure Event. The suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event. The non-performing Party shall exercise all reasonable efforts to mitigate or limit damages to the other Party. As soon as When the non-performing Party can is able to resume performance of its obligations hereunderunder this Agreement, that such Party shall give the other Party written notice to that effect and shall promptly resume performance. If a Force Majeure Event exceeds thirty (30) days, or is reasonably anticipated by agreement of the Parties to exceed thirty (30) days, Company shall have the right to terminate this Agreement upon giving Contractor five (5) days written notice for profitperformance hereunder.
Appears in 2 contracts
Samples: Technological Know How Transfer Agreement (Wind Power Holdings Inc), Turbine Design and Development Agreement (Wind Power Holdings Inc)