Common use of Force Majeure of the Swap Transportation Clause in Contracts

Force Majeure of the Swap Transportation. Chain In addition to the relevant provisions under the EFET Agreement, Parties agree that the following occurrence or event shall also be considered and constitute Force Majeure affecting both the acceptance at DPA and the delivery at PSV, that can be claimed by the Logistic Swap Provider:  the complete interruption of firm transportation rights or any problem, occurrence or event, including both planned and unplanned maintenance, completely affecting the operation of any gas pipeline system (or a part thereof) of the Swap Transportation Chain, provided that the complete interruption has reached a cumulative duration within the Total Supply Period at PSV of at least five (5) days. The above Force Majeure shall imply a complete reduction of the relevant Contract Quantity of the Swap Transactions under the Contract that shall be set to zero (0).

Appears in 3 contracts

Samples: Logistic Swap Agreement, Logistic Swap Agreement, Logistic Swap Agreement

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Force Majeure of the Swap Transportation. Chain In addition to the relevant provisions under the EFET Agreement, Parties agree that the following occurrence or event shall also be considered and constitute Force Majeure affecting both the acceptance at DPA and the delivery at PSV, that can be claimed by the Logistic Swap Provider: the complete interruption of firm transportation rights or any problem, occurrence or event, including both planned and unplanned maintenance, completely affecting the operation of any gas pipeline system (or a part thereof) of the Swap Transportation Chain, provided that the complete interruption has reached a cumulative duration within the Total Supply Period at PSV of at least five (5) days. The above Force Majeure shall imply a complete reduction of the relevant Contract Quantity of the Swap Transactions under the Contract that shall be set to zero (0).

Appears in 2 contracts

Samples: Logistic Swap Agreement, Logistic Swap Agreement

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