Force Majeure Extension. The Guaranteed Commercial Operation Date may be extended on a day for day basis in the event of Force Majeure (“Force Majeure Extension”); provided that Seller works diligently to resolve the effect of the Force Majeure and provides evidence of its efforts promptly to Buyer upon Buyer’s written request; provided further that Seller may not claim Force Majeure for any reason that was the basis for or would qualify as a Permitting Delay or a Transmission Delay.
Force Majeure Extension. Notwithstanding anything to the contrary in this Agreement, only the IDD and the respective due dates for the Delivery Conditions in Sections 2.2(a)(i) and 2.2(a)(iii) through 2.2(a)(viii) may be extended in the event of Force Majeure (“Force Majeure Extension”); provided that Seller provides Notice to Buyer of such Force Majeure Extension, works diligently to resolve the effect of the Force Majeure and provides evidence of its efforts promptly to Buyer upon Xxxxx’s written request.
Force Majeure Extension. For the purposes of this Agreement, neither the Township nor Redeveloper shall be considered in breach or in default with respect to its obligations hereunder because of a delay in performance arising from a Force Majeure Event. It is the purpose and intent of this provision that in the event of the occurrence of any such delay, the time or times for performance of the obligations of the Township or Redeveloper shall be extended for the period of the delay; provided, however, that such delay is actually caused by or results from the Force Majeure Event. The time for completion of any specified obligation hereunder shall be tolled for a period of time up to but not exceeding the period of delay resulting from the occurrence of a Force Majeure Event plus a reasonable period of time not to exceed sixty (60) days, or such other period of time which may be agreed to by the Township and the Redeveloper, for Redeveloper to re-mobilize its contractors and agents to complete the Project or affected Phase thereof, and Redeveloper’s non-performance of such obligation during any such period of time shall not be deemed a default by Redeveloper of its obligations under this Agreement. To invoke the tolling provisions hereunder the party invoking the provisions hereof must give Notice to the other party of the occurrence of a Force Majeure Event as soon as practicable. The tolling period shall be calculated from the date of the Notice.
Force Majeure Extension. Notwithstanding anything to the contrary in this Agreement, the Initial Delivery Date may be extended on a day for day basis in the event of Force Majeure (“Force Majeure Extension”). Seller’s claims for a Force Majeure Extension cannot cumulatively exceed thirty (30) days; and In order to request a Force Majeure Extension, Seller shall provide Buyer with Notice of the requested Force Majeure Extension no later than sixty (60) days prior to the Initial Delivery Date, which Notice must clearly identify the Force Majeure Extension and the length of the Force Majeure Extension subject to the limitations in this Section 8.1(d); provided that if sixty (60) days prior Notice is impracticable or impossible, Seller shall provide Notice as soon as possible after the occurrence of the Force Majeure event.
Force Majeure Extension. Either or both of the Guaranteed Project Milestones may be extended on a day for day basis for a cumulative period equal to no more than three hundred sixty (360) days in the event of Force Majeure (“Force Majeure Extension”); provided that Seller works diligently to resolve the effect of the Force Majeure and provides evidence of its efforts promptly to Buyer upon Buyer’s written request; provided further that Seller may not claim Force Majeure for any reason that was the basis for or would qualify as a Permitting Delay or a Transmission Delay; and
Force Majeure Extension. For the purposes of this Redevelopment Agreement, neither the Township nor Redeveloper shall be considered in breach or in default with respect to its obligations hereunder because of a delay in performance arising from a Force Majeure Event. It is the purpose and intent of this provision that in the event of the occurrence of any such delay, the time or times for performance of the obligations of the Township or Redeveloper shall be extended for the period of the delay; provided, however, that such delay is actually caused by or results from the Force Majeure Event. The time for completion of any specified obligation hereunder shall be tolled for a period of time up to but not exceeding the period of delay resulting from the occurrence of a Force Majeure Event. During any Force Majeure Event that affects only a portion of a Project, Redeveloper shall to the maximum extent feasible continue to perform its obligations for the balance of the Project unaffected by the Force Majeure Event. The existence of an event or occurrence of Force Majeure Event shall not prevent the Township or Redeveloper from declaring a default or the occurrence of an Event of Default by the other party if the event that is the basis of the Event of Default is not a result of the Force Majeure Event.
Force Majeure Extension. Borrower shall have one or more options to extend the term of the Loans (but not the term of only the Project Loan or only the Building Loan) if a Force Majeure Event shall have occurred and if the following terms and conditions are satisfied: (i) not more than five (5) Business Days after Borrower becomes aware of the occurrence of a Force Majeure Event, Borrower shall have given Agent notice of the occurrence of such Force Majeure Event and a notice of its election to extend the term of the Loans pursuant to this Section 3.19(b) and Section 3.19(b) of the Building Loan Agreement (the date on which such notice shall be given being hereinafter referred to as the “Force Majeure Extension Option Exercise Date”); (ii) in the reasonable judgment of Agent, such Force Majeure Event will delay Final Completion of the Project beyond the Maturity Date; (iii) in the reasonable judgment of Agent, Borrower shall have taken all steps commercially reasonable to mitigate the effects of such Force Majeure Event; (iv) on the Force Majeure Extension Option Date, no Noticed Default or Event of Default shall exist under any Loan Document; (v) Borrower shall have provided to Agent evidence of the continuation of the Policies and the payment of any premiums then due therefor; (vi) appropriate extensions, to the extent required to keep such document in full force and effect and free from any default, shall have been granted under the Public Project Agreements and for a period of time at least equal to the Force Majeure Extension Period; (vii) Borrower shall have provided to Agent evidence of the continuation of the Initial Advance Interest Rate Cap through the extended Maturity Date on terms and conditions reasonably satisfactory to Agent, to the extent Borrower was required to purchase the Initial Advance Interest Rate Cap in accordance with the terms hereof, or, if no Initial Advance Interest Rate Cap was so required, Borrower and Agent shall have entered into a written agreement reasonably satisfactory to Agent with respect to interest rate protection during the Force Majeure Extension Period (provided that if, in Agent’s discretion, the cost of any interest rate protection required by this clause (vii) is prohibitive, Borrower may deposit with or deliver to Agent other security in lieu thereof satisfactory to Agent); and (viii) each Guarantor shall acknowledge and confirm to Agent, on or prior to the Maturity Date, the exercise of the extension period by Borrower. The period...
Force Majeure Extension. For the purposes of this Agreement, neither the Authority nor Redeveloper shall be considered in breach or in default with respect to its obligations hereunder because of a delay in performance arising from a Force Majeure event. It is the purpose and intent of this provision that in the event of the occurrence of any such delay, the time or times for performance of the obligations of the Authority or Redeveloper shall be extended for the period of the delay; provided, however, that such delay is actually caused by or results from the Force Majeure event. The time for completion of any specified obligation hereunder shall be tolled for a period of time up to but not exceeding the period of delay resulting from the occurrence of a Force Majeure event.
Force Majeure Extension. The Commercial Operation Date shall also be extended, without payment or other penalty, on a day-for-day basis for each day of delay caused by reason of Force Majeure (a “Force Majeure Extension”); provided, however, that the Commercial Operation Date shall occur no later, under any circumstances than the Outside Commercial Operation Date. Any Force Majeure Extension shall also extend the period of any planned or unplanned extensions pursuant to Sections 4.2(a) or (b) on a day-for-day basis for each day during the Force Majeure Extension, and Seller shall not be required to pay any COD Extension Payments or Daily Delay Liquidated Damages, as applicable, for any days during the Force Majeure Extension. Notwithstanding any other provision in this Agreement, if, due solely to a Force Majeure event, the Project does not achieve Commercial Operation on or before the Outside Commercial Operation Date, then either Party may, terminate this Agreement without penalty or further obligation to the other Party. For the sake of clarity, in the event of such termination by either Party, ASPA shall not be entitled to Termination Damages.
Force Majeure Extension. (a) In the event there is a delay in the completion of the Work arising out of or caused, directly or indirectly, by circumstances beyond Buyer's reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; wars; acts of terrorism; civil or military disturbances; sabotage; epidemic; riots; interruptions, loss or malfunctions of utilities, computer (hardware or software) or communications services; accidents; labor disputes; acts of civil or military authority or governmental action ("Force Majeure Event"), the Work Escrow Expiration Date shall be extended by one day for each day commencing with the start of the cause or circumstance giving rise to the Force Majeure Event and ending as soon as possible after that cause or circumstance has ceased to have effect ("Force Majeure Extension"); provided, however, that the Work Escrow Expiration Date shall in no circumstance be extended beyond the date that is nine (9) months after the date hereof. Notwithstanding anything contained herein to the contrary, this Section 5(a) shall only apply to the Work Escrow.
