Inability to Act Sample Clauses
The "Inability to Act" clause defines what happens if a party is unable to fulfill its contractual obligations due to circumstances beyond its control. Typically, this clause outlines the process for notifying the other party, the types of events that qualify (such as natural disasters or government actions), and the temporary suspension or modification of obligations during the period of inability. Its core function is to protect both parties from being unfairly penalized for non-performance caused by unforeseen and uncontrollable events, thereby allocating risk and ensuring fairness in the contract.
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Inability to Act. For purposes of this agreement, any individual who is serving as a trustee or who is authorized or required to take any action (whether as a trustee or otherwise) shall be deemed unable to act if and so long as he or she, in the opinion of the person or persons designated to serve as trustee or to take such action in the event of such individual's inability to act, is incapable of acting by reason of advanced age, illness, accident, or any other cause. Any such person shall be justified in assuming that such individual is unable to act if that fact is certified by the spouse of such individual or, if the spouse is not available, by a majority of the then living adult descendants of such individual or, if no such descendant is available, by the principal physician attending such individual.
Inability to Act. If for any reason the Trustee is unwilling or unable to act as to any property, such person or qualified corporation as the Trustee shall from time to time designate in writing shall act as special trustee as to that property. Any person or corporation acting as special trustee may resign at any time by written notice to the Trustee. Each special trustee shall have the powers granted to the Trustee by this agreement, to be exercised only with the approval of the Trustee, to which the net income and the proceeds from sale of any part or all of the property shall be remitted to be administered under this agreement.
Inability to Act. In the case of absence or inability to act of any officer of the Corporation, the Board may from time to time delegate the powers or duties of such officer to any other officer, or any director or other person whom it may select.
Inability to Act. In the event that an arbitrator appointed as aforesaid shall thereafter die or become unable or unwilling to act, his successor shall be appointed in the same manner provided in this Article for the appointment of the arbitrator so dying or becoming unable or unwilling to act.
Inability to Act. If, in the opinion of the Agent, the Obligors’ Agent is unable to perform its role as Obligors’ Agent due to any of the circumstances described in clause 32.6 (Insolvency) or clause 32.7 (Insolvency proceedings) applying to the Obligors’ Agent the Agent and the Obligors shall enter into negotiations (for a period of no more than ten days) with a view to agreeing a substitute agent of the Obligors. If no such substitute agent of the Obligors has been approved by the Agent or if appropriate amendments have not been made to the Finance Documents to effect the appointment of such substitute agent of the Obligors within thirty days of the date of the commencement of the negotiations between the Agent and the Obligors described above, the Obligors’ Agent shall cease to be the agent of the Obligors and any acts in respect of the Finance Documents which prior to such date could be done by the Obligors’ Agent on behalf of an Obligor shall on and after such date be done by the relevant Obligor itself.
Inability to Act. Despite any other provision of the Services Agreement, no party need act if it is impossible to act due to any cause beyond its reasonable control (including act of God, war (whether declared or undeclared)„ terrorist act, riot, natural disaster, labour dispute, inability to obtain essential goods or services, failure of equipment, interruption of communications or computer facilities or law taking effect after the date of the Services Agreement).