FORCE MAJEURE CIRCUMSTANCES. Lithium Hosting, llc CANNOT and WILL NOT be liable for any failure or delay in doing its professional duties resulting from circumstances beyond its physical control. Such circumstances may represent acts of any governmental body, war, rebellion, sabotage, embargo, fire, flood or other natural disaster, strike or other labor disturbances, interruption of or delay in transportation, unavailability of, interruption or delay in telecommunications or third party services (including DNS propagation), failure of third party software or hardware, or inability to obtain raw materials, supplies or power used in or equipment needed for provisioning of the Services.
FORCE MAJEURE CIRCUMSTANCES. 16.1. Parties shall be exempt from the liability arising from full or partial failure to perform contractual obligations during the effect of the insurmountable force [force majeure], provided that such failure is caused by the direct impact of the insurmountable force. Force majeure shall include the circumstances which did not exist by the time the present agreement was processed and the parties were not in the position to prevent or overcome such occurrence or impact. In particular: natural disasters, fire, strike, military action, blockade, malfunctioning of devices, damage of program software, adoption of the legal acts which make it impossible to perform contractual obligations etc.
16.2. if any of the above indicated circumstances have direct impact on the effective terms of performance of assumed contractual obligations, in such case, performance of the assumed liabilities shall be deferred until liquidation of force-majeure circumstances.
16.3. the party, to which is facing the force-majeure circumstances is obliged to notify the other party within the reasonable term but no later than 5(five) banking day, about the relevant force-majeure circumstance(s) and its/their presumable duration, otherwise, it shall loose the right to allege to presence force-majeure, as a ground for exempting from the liability.
16.4. with regard force-majeure circumstance(s) referred in the notification, unless they are not generally acknowledged facts (circumstances) or the other party suspects their authenticity, within 30 (thirty) calendar days after receiving the notice on the force-majeure circumstance(s) by the respective party or after sending the notice by the respective party on expression of doubt about presence of the force-majeure circumstance(s) to the other party, the existence of the force-majeure circumstance(s) should be validated by the authorized body determined by the legislation.
16.5. if the effect of force-majeure continues longer than 30 (thirty) calendar days from the date of receiving the notice on force-majeure circumstance(s) by the respective party or the conclusions of the respective body on presence of the force-majeure circumstance(s), in 15 (fifteen) calendar days after passing the indicated 30 (thirty) calendar days the parties should decide the fate of the agreement, otherwise any party to the agreement shall be authorized to terminate the agreement, according to the regulation determined by this agreement.
FORCE MAJEURE CIRCUMSTANCES. 8.1. The Parties are released from responsibility for non-fulfillment or improper fulfillment of their obligations on the Agreement, if they prove, that proper fulfillment was impossible due to force majeure, which means extreme, unforeseen and inevitable circumstances in given conditions.
8.2. The Party that has suffered the influence of the force majeure circumstances must notify the other Party within the period of ten (10) days about the character, type and the presumable duration of the force majeure influence, as well as indicate the fulfillment of which obligations under the Agreement it affects, and to produce evidence of the occurrence of such circumstances. In case of lack of notification the Party affected by the force majeure influence cannot refer to the influence of the force majeure circumstances at a later time as to the cause exempting them from liability.
8.3. The occurrence of force majeure circumstances extends the terms of the fulfillment by the Parties of the obligations hereunder proportionate to the duration of their influence. If the influence of the force majeure circumstances lasts longer than six months, the Parties are obliged, upon proposal of one of the Parties, to coordinate the further actions and/or the possibility of denouncement of the Agreement.
FORCE MAJEURE CIRCUMSTANCES. 9.1. The Parties are released from responsibility for non-fulfillment or improper fulfillment of their obligations on the Agreement, if they prove, that proper fulfillment was impossible due to force majeure, which means extreme, unforeseen and inevitable circumstances in given conditions. The presence of force majeure in this case prolongs the term of fulfillment of obligations by the Parties, proportionally to the period of its activity. If the influence of the force majeure circumstances lasts longer than six months, the Parties are obliged, upon proposal of one of the Parties, to coordinate the further actions and/or the possibility of denouncement of the Agreement.
FORCE MAJEURE CIRCUMSTANCES. Parties shall be exempt from the liability arising from full or partial failure to perform contractual obligations during the effect of an insurmountable force [force majeure], provided that such failure is caused by the direct impact of the insurmountable force. A force majeure shall include circumstances which did not exist at the time the present agreement was created and the parties were not in a position to prevent or overcome such occurrence or impact. In particular: natural disasters, fire, strike, military action, blockade, malfunctioning of devices, damage of program software, adoption of legal acts which make it impossible to perform contractual obligations, etc.
FORCE MAJEURE CIRCUMSTANCES. 11.1. Force majeure circumstances shall include but not limited to: any actions, events or circumstances (including but not limited to any strikes, riots, mass disturbances and civil disturbances, terroristic acts, floods, extraordinary weather conditions, earthquakes, fire, wars, labor disputes, accidents, government actions, connection and power failures, equipment and software failures, etc) which in the reasonable opinion of the Company lead to destabilization of a market or markets of one or several tools, interruption of business, liquidation or closing of any market or absence of an event on the basis of which the Company sets quotes, or introduction of non-standard trading conditions at any market or towards any such event.
11.2. The Company having sound ground is entitled to define the borders of force majeure circumstances occurrence. In the event of force majeure circumstances the Company shall take all measures in good faith to notify the Client about force majeure circumstances.
11.3. The Client agrees that in the event of force majeure circumstances the Company is entitled (without limiting other Company rights according to the present Agreement) without prior written notification and any time to take any of the following actions:
a) Increase margin requests;
b) Close one or all open positions at a quote the Company reasonably finds correct;
c) Suspend or modify application of one or all of provisions of the present Agreement as long as force majeure circumstances do not allow the Company to follow these provisions;
d) Take or not take any actions towards the Company, the Client and other Clients, provided the Company has reasonable grounds for considering such actions reasonable in such circumstances;
e) Reconsider financial result of all Client trading operations, falling within force majeure circumstances, by changing quotes, opening/closing orders, or total deletion of orders.
FORCE MAJEURE CIRCUMSTANCES. 7.1. Parties shall be relieved of responsibility for partial or full non-fulfillment of their obligations under Contract if they prove that non-fulfillment or improper fulfillment of their obligations is the consequence of force majeure circumstances, i.e. extraordinary and unavoidable events, including: natural disasters, accidents, fires, mass riots, epidemics, violations of public order, strikes, military actions, illegal actions of third parties, any prohibition or restriction of monetary settlements of the National Bank of Ukraine, imposition of embargo on imports (exports) or other circumstances, adoption by public authorities of relevant acts that have arisen (become valid) after signing Contract and are beyond control of Parties.
7.2. Party which is affected by force majeure circumstances shall within 5 (five) business days after their occurrence notify the other Party in writing thereof and within 30 (thirty) business shall submit to other Party the documents issued by Ukrainian Chamber of Commerce and Industry or another state authority confirming the fact of such circumstances occurrence.
7.3. Failure of Party affected by force majeure circumstances to notify the other Party and / or failure to submit to other Party the documents issued by Ukrainian Chamber of Commerce and Industry or other state authority confirming the fact of force majeure circumstances occurrence shall divest the Party affected by force majeure to refer to them as the grounds for non-fulfillment and/or improper fulfillment of obligations under the Contract.
7.4. Terms for fulfilling obligations under the Contract shall be automatically continued / transferred for the duration of force majeure circumstances, provided that Party being affected by force majeure circumstances timely notified the other Party about their occurrence and provided to latter the document(s) issued by Ukrainian Chamber of Commerce and Industry or other state authority confirming the fact of force majeure circumstances occurrence.
7.5. If force majeure circumstances or their consequences last more than two months, or when it becomes evident that such circumstances will last more than two months, the Parties shall negotiate in order to identify ways acceptable to them to observe Contract or terminate it.
7.6. If Contract is terminated as agreed by Parties due to force majeure circumstances, neither Party shall be liable for failure to perform or improper performance of obligations under such Contract.
FORCE MAJEURE CIRCUMSTANCES. 11.1. To the Force Majeure Circumstances (Force majeure) of Company is hereby referring at:
11.1.1. extraordinary and unavoidable circumstances under the given conditions, incl. wars, floods, fires, earthquakes and other natural disasters, strikes, terrorist acts, mass unrest, riots, changes in the current legislation, interruptions in the operation of software, electric networks, instability of the flow of quotes and so on, which, in the Company's opinion, led or could lead to a change in market conditions in relation to financial instruments (assets) and prevent the proper performance of obligations;
11.1.2. closing of any market, on the basis of which the Company builds quotes, its liquidation or suspension of activity, the introduction of special restrictions on such a market, certain conditions, as well as the occurrence or non-occurrence of any event within such a market.
11.2. In the event that the Company has identified the incident as force majeure, it reserves the right, without prior notice to the Client:
11.2.1. suspend, amend or cancel any clause of this Agreement until it becomes possible to comply with it;
FORCE MAJEURE CIRCUMSTANCES. 10.1. The Parties are not responsible for partial or complete failure to fulfill obligations under this Agreement, if such failure was caused by force majeure, arose after the conclusion of this Agreement and which the Parties could not foresee or prevent. These circumstances in this Agreement include natural disasters (earthquakes, floods, fires, typhoons, etc.), acts of war, mass diseases (epidemics), failures in the public telephone networks and the Internet and other (unavoidable and unforeseen) circumstances out of the Parties’ reasonable control.
10.2. In case of approach of circumstances specified in par 10.1 of this Agreement, each Party shall promptly notify of them in writing the other Party. The notice must include information on the nature of circumstances. The occurrence of circumstances referred to in par 10.1 hereof shall be confirmed by a document issued by the competent authority.
10.3. In the event of circumstances specified in par 10.1 herein, the deadline of performance by the Party of obligations under this Agreement shall be suspended in proportion to the time during which these circumstances are in effect.
10.4. If circumstances listed in par 10.1 of this Agreement and their consequences continue for more than 2 (two) months, the Parties shall hold additional negotiations to find acceptable alternative ways to execute this Agreement.
10.5. The Party, which failed to notify or which delayed to notify of untimely fulfillment or improper fulfillment of obligations under this Agreement because of force majeure, may not refer to them in the future, except in cases where such notice or untimely notice was directly resulted from the above circumstances.
FORCE MAJEURE CIRCUMSTANCES. 8.1. The Parties shall be released from liability for partial or complete non-fulfillment of obligations under the Agreement if the non-fulfillment was the result of force majeure circumstances that arose after the conclusion of the Agreement as a result of extraordinary events that the Parties could neither foresee nor prevent by reasonable measures.
8.2. Force majeure circumstances shall include events that the Party cannot influence and for the occurrence of which it is not responsible (for example: earthquakes, floods, fires, etc.).
8.3. The Party referring to such circumstances shall be obliged to inform the other Party in writing within ten days of the occurrence of such circumstances, and at the request of the other Party, a document issued by the competent authority must be presented upon the occurrence of such circumstances.
8.4. The Party shall be obliged to inform in writing within three calendar days about the termination of such circumstances.
8.5. The deadline for fulfilling obligations under the Agreement shall be postponed in proportion to the time during which such circumstances and their consequences are in effect.
