Common use of Notification of Occurrence Clause in Contracts

Notification of Occurrence. (a) If one Party has been prevented from performing its obligations stipulated in the Agreement because of an Event of Force Majeure, , it shall notify the other Party in writing within seven (7) days after the occurrence of such Event of Force Majeure, and all Parties shall use reasonable endeavors to mitigate damages, (b) If an Event of Force Majeure occurs, neither Party shall be responsible for any damage, increased costs or loss, such non-compliance or delay in implementation shall not be considered a breach of this Agreement (c) A Party claiming inability to perform due to an Event of Force Majeure shall take appropriate means to minimize or remove the effects of the Event of Force Majeure and, within the shortest possible time, attempt to resume performance of the obligation affected by the Event of Force Majeure.

Appears in 3 contracts

Samples: Equity Transfer Agreement (Wits Basin Precious Minerals Inc), Equity Transfer Agreement (Wits Basin Precious Minerals Inc), Equity Transfer Agreement (Wits Basin Precious Minerals Inc)

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Notification of Occurrence. (a) If one Party has been prevented from performing its obligations responsibilities stipulated in the Agreement this Contract because of an Event of Force Majeure, , it shall notify the other Party in writing within seven fourteen (714) days after the occurrence of such Event of Force Majeure, and all both Parties shall use reasonable endeavors to mitigate damages, (b) , to the extent possible. If an Event of Force Majeure occurs, neither no Party shall be responsible for any damage, increased costs or loss, loss which the other Parties may sustain by reason of such non-compliance a failure or delay in implementation of performance, and such failure or delay shall not be considered deemed a breach of this Agreement (c) Contract. A Party claiming inability to perform due to an Event of Force Majeure shall take appropriate means to minimize or remove the effects of the Event of Force Majeure and, within the shortest possible time, attempt to resume performance of the obligation affected by the Event of Force Majeure.

Appears in 1 contract

Samples: Joint Venture Contract (Fedders Corp /De)

Notification of Occurrence. (a) If one a Party has been prevented from performing its obligations responsibilities stipulated in the Agreement this Contract because of an Event of Force Majeure, , it shall notify the other Party in writing within seven fourteen (714) days after the occurrence of such Event of Force Majeure, and all both Parties shall use reasonable endeavors to mitigate damages, (b) , to the extent possible. If an Event of Force Majeure occurs, neither no Party shall be responsible for any damage, increased costs or loss, loss which the other Party may sustain by reason of such non-compliance a failure or delay in implementation of performance, and such failure or delay shall not be considered deemed a breach of this Agreement (c) Contract. A Party claiming inability to perform due to an Event of Force Majeure shall take appropriate means actions to minimize or remove the effects of the Event of Force Majeure and, within the shortest possible time, attempt to resume performance of the obligation affected by the Event of Force Majeure.

Appears in 1 contract

Samples: Joint Venture Contract (A123 Systems, Inc.)

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Notification of Occurrence. (a) If one Party has been prevented from performing its obligations responsibilities stipulated in the this Agreement because of an Event of Force Majeure, , it shall notify the other Party in writing within seven fifteen (715) days after the occurrence of such Event of Force Majeure, and all Parties ​ shall use reasonable endeavors to mitigate damages, (b) , to the extent possible. If an Event of Force Majeure occurs, neither Party shall be responsible for any damage, increased costs or loss, loss which the other Party may sustain by reason of such non-compliance a failure or delay in implementation of performance, and such failure or delay shall not be considered deemed a breach of this Agreement (c) . A Party claiming inability to perform due to an Event of Force Majeure shall take appropriate means to minimize or remove the effects of the Event of Force Majeure and, within the shortest possible time, attempt to resume performance of the obligation affected by the Event of Force Majeure.

Appears in 1 contract

Samples: Joint Venture Operating Agreement (RMG Acquisition Corp.)

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