Common use of Notice and Suspension of Obligations Clause in Contracts

Notice and Suspension of Obligations. If a party to this Agreement is affected, or likely to be affected, by a Force Majeure Event: (a) that party shall immediately give the other prompt notice of that fact including: (i) full particulars of the Force Majeure Event; (ii) an estimate of its likely duration; (iii) the obligations affected by it and the extent of its effect on those obligations; and (iv) the steps taken to rectify it; and (b) if the Force Majeure Event is a Disruption, then the obligations under this Agreement of the party giving the notice, are suspended to the extent to which they are affected by the relevant Disruption as long as the Disruption continues; and (c) if the Force Majeure Event is not a Disruption, then the obligations under this Agreement of the party giving the notice, other than obligations under clause 3.3, are suspended to the extent to which they are affected by the relevant Force Majeure Event as long as the Force Majeure Event continues.

Appears in 3 contracts

Samples: License Agreement (Aveo Pharmaceuticals, Inc.), License Agreement (Aveo Pharmaceuticals Inc), License Agreement (Aveo Pharmaceuticals Inc)

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