Force Majeure Termination Payment Sample Clauses

Force Majeure Termination Payment. [ ] Applicable. If not checked, inapplicable. If applicable, the following provisions will apply: Notwithstanding anything to the contrary in Section 10, a Termination Payment will be payable in respect of Term Transactions that are terminated due to Force Majeure pursuant to Section 10.5 within two (2) New York Banking Days of termination. The Termination Payment and the Party that owes such Termination Payment will be calculated and determined pursuant to the methodology set forth in Section 9.2 by the Party that is not claiming Force Majeure (which Party will be deemed the “Performing Party” for purposes of applying the terms of Section 9.2 for purposes of this provision), except that only the Transactions being terminated pursuant to Section 10.5 will be taken into account in determining the amount of such payment and all other Transactions will remain outstanding and unaffected by such termination. If both Parties are claiming Force Majeure, then both Parties will calculate a Termination Payment, and the amount payable will equal one-half of the difference between the Termination Payment of the Party with the higher Termination Payment (“X”) and the Termination Payment of the Party with the lower Termination Payment (“Y”). If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X will pay the absolute value of that amount to Y.
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Force Majeure Termination Payment. If no Seller's Holding Account is specified for the Party acting as Seller in the FM Affected Transaction, sub-paragraph (a) (No Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies unless otherwise specified here: [ ] sub-paragraph (b) (Two-way Market Quotation Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies, or [ ] sub-paragraph (c) (Two-way Loss Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies. If one or more Seller's Holding Account(s) are specified for the Party acting as Seller in the FM Affected Transaction, sub-paragraph (c) (Two-way Loss Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies unless otherwise specified here: [ ] sub-paragraph (a) (No Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies, or [ ] sub-paragraph (b) (Two-way Market Quotation Termination Payment) of Clause 10.2 (Force Majeure Termination Payment) applies.
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Force Majeure Termination Payment. If an FM Affected Transaction is terminated in accordance with Clause 10.1 (Force Majeure), the Parties' corresponding Transfer and acceptance obligations shall be released and discharged and the Force Majeure termination payment to be made between the Parties (if any) shall be calculated in accordance with paragraph (a), (b) or (c) below, as selected by the Parties in Schedule 1 (Elections).
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Force Majeure Termination Payment. [ ] § 7.4(b)(i) (No Termination Payment) shall apply; or [ ] § 7.4(b)(iii) (Two-Way Loss Termination Payment) shall apply § 13 Invoicing and Payment
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Related to Force Majeure Termination Payment

  • Termination Payment for Force Majeure Event 34.9.1 If Termination is on account of a Non-Political Event, the Authority shall make a Termination Payment to the Concessionaire in an amount equal to 90% (ninety per cent) of the Debt Due less Insurance Cover.

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • Termination for continuing Force Majeure Event Either Party may, by written notice to the other, terminate this Framework Agreement if a Force Majeure Event endures for a continuous period of more than one hundred and twenty (120) Working Days.

  • Termination due to Force Majeure 13.5.1 If the Force Majeure Event or its effects continue to be present beyond the period as specified in Article 4.5.3, either Party shall have the right to cause termination of the Agreement. In such an event, this Agreement shall terminate on the date of such Termination Notice.

  • Termination Notice for Force Majeure Event If a Force Majeure Event subsists for a period of 180 (one hundred and eighty) days or more within a continuous period of 365 (three hundred and sixty five) days, either Party may in its discretion terminate this Agreement by issuing a Termination Notice to the other Party without being liable in any manner whatsoever, save as provided in this Article 34, and upon issue of such Termination Notice, this Agreement shall, notwithstanding anything to the contrary contained herein, stand terminated forthwith; provided that before issuing such Termination Notice, the Party intending to issue the Termination Notice shall inform the other Party of such intention and grant 15 (fifteen) days time to make a representation, and may after the expiry of such 15 (fifteen) days period, whether or not it is in receipt of such representation, in its sole discretion issue the Termination Notice.

  • Termination for Force Majeure In the event of a force majeure that lasts longer than thirty (30) days from the date that a Party claiming relief due to the force majeure event gives notice to the other Party, the Party not claiming relief under the force majeure event may terminate this Agreement upon written notice to the other Party. For the avoidance of doubt, the COVID-19 pandemic does not constitute a force majeure event.

  • Force Majeure Notice In relation to any Relevant Force Majeure Event:

  • Force Majeure Event 16.1 If a Force Majeure Event gives rise to a failure or delay in either party performing any obligation under this Agreement (other than any obligation to make a payment), that obligation will be suspended for the duration of the Force Majeure Event.

  • Force Majeur In case the Show Facility is damaged or destroyed, or in case of war, government regulations or any other circumstances whatsoever which will make it impossible or impractical for Show Management to permit Exhibitor to occupy the exhibit space described in this Agreement, this Agreement will terminate and Exhibitor will waive any claim for damages for compensation except the pro rata return of the amount paid for space rented, diminished only by a pro rata portion of the amounts expended to produce the Show.

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