Common use of Force Majeure: Extension of Time of Performance Clause in Contracts

Force Majeure: Extension of Time of Performance. In addition to specific provisions of this Agreement, whenever a period of time is designated within which either Party hereto is required to do or complete any act, matter or thing, both the time for the doing or completion thereof and the Term of this Agreement and the specific obligation hereunder shall be extended by a period of time equal to the number of days which such Party is prevented from, or is unreasonably interfered with the doing or completion of such act, matter or thing because of the following causes, which causes are beyond the reasonable control of the Party to be excused including: war, terrorist acts, insurrection; strikes; walk-outs; riots; floods; earthquakes; fires; unavoidable casualties; acts of God; epidemics, pandemics; Litigation and administrative proceedings which are brought against the Project by a third party (not including any administrative proceedings contemplated by this Agreement in the normal course of affairs such as the Annual Review); restrictions imposed or mandated by other governmental entities (“Governmental Restrictions”); enactment of conflicting state or federal laws or regulations (“Conflicting Laws”); or similar bases for excused performance which is not within the reasonable control of the Party to be excused (financial inability excepted). This Section shall not be applicable to, bankruptcy or receivership initiated by or on behalf of Developer or, if not dismissed within ninety (90) days, by any third parties against Developer. A Party wishing to invoke this Section shall notify in writing the other Party 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 best estimate thereof. The failure to so notify the other Party within that period as to the cause for delay shall 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 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 other and, in that event, the Parties shall have no further obligations hereunder.

Force Majeure: Extension of Time of Performance. In addition to specific provisions of this Agreement, whenever a period of time is designated within which either Party hereto is required to do or complete any act, matter or thing, both the time for the doing or completion thereof and the Term of this Agreement and the specific obligation hereunder shall be extended by a period of time equal to the number of days which such Party is prevented from, or is unreasonably interfered with the doing or completion of such act, matter or thing because of the following causes, which causes are beyond the reasonable control of the Party to be excused including: war, terrorist acts, insurrection; strikes; walk-outs; riots; floods; earthquakes; fires; unavoidable casualties; acts of God; epidemics, pandemics; Litigation and administrative proceedings which are brought against the Project by a third party (not including any administrative proceedings contemplated by this Agreement in the normal course of affairs such as the Annual Review); restrictions imposed or mandated by other governmental entities (“Governmental Restrictions”); enactment of conflicting state or federal laws or regulations (“Conflicting Laws”); judicial decisions (“Judicial Decisions”); or similar bases for excused performance which is not within the reasonable control of the Party to be excused (financial inability excepted). This Section shall not be applicable to, bankruptcy or receivership initiated by or on behalf of Developer or, if not dismissed within ninety (90) days, by any third parties against Developer. A Party wishing to invoke this Section shall notify in writing the other Party 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 best estimate thereof. The failure to so notify the other Party within that period as to the cause for delay shall 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 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 other and, in that event, the Parties shall have no further obligations hereunder.