Common use of Occurrence of Force Majeure Event Clause in Contracts

Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party precludes that Party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must notify the other Party of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for the duration of the actual delay arising directly out of the Force Majeure Event (Actual Delay); and (c) the other Party’s obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 3 contracts

Samples: Sale and Leaseback Agreement, Sale and Buyback of Fine Metal Agreement (Kulicke & Soffa Industries Inc), Sale and Buyback of Fine Metal Agreement (Kulicke & Soffa Industries Inc)

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Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party party precludes that Party party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must notify the other Party party in writing of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for the duration of the actual delay arising directly out of the Force Majeure Event (Actual Delay)Event; and (c) the other Partyparty’s obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 2 contracts

Samples: Supply and License Agreement (HedgePath Pharmaceuticals, Inc.), Supply and License Agreement (HedgePath Pharmaceuticals, Inc.)

Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party party precludes that Party party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Agreement agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must notify the other Party party in writing of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for the duration of the actual delay arising directly out of the Force Majeure Event (Actual Delay)Event; and (c) the other Partyparty’s obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 2 contracts

Samples: Supply and License Agreement (HedgePath Pharmaceuticals, Inc.), Supply and License Agreement (HedgePath Pharmaceuticals, Inc.)

Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party party precludes that Party party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must will notify the other Party party of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for so long as is reasonably required for the duration of Precluded Party to overcome the actual delay arising directly out impact of the Force Majeure Event (Actual Delay); and (c) the other Partyeach party’s obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 1 contract

Samples: Saas Agreement (Advanced Health Intelligence LTD)

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Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party party precludes that Party party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must notify the other Party party in writing of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for the duration of the actual delay arising directly out of the Force Majeure Event (Actual Delay)Event; andand Second Amended and Restated Supply and license agreement – Mayne Pharma and HPPI | page 32 (c) the other Partyparty’s obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 1 contract

Samples: Supply and License Agreement

Occurrence of Force Majeure Event. If a Force Majeure Event affecting a Party precludes that Party (Precluded Party) partially or wholly from complying with its obligations (except its Security and payment obligations) under this Access Agreement then: (a) as soon as reasonably practicable after that Force Majeure Event arises, the Precluded Party must notify the other Party Parties of: (i) the Force Majeure Event; (ii) which obligations the Precluded Party is precluded from performing (Affected Obligations); (iii) the extent to which the Force Majeure Event precludes the Precluded Party from performing the Affected Obligations (Precluded Extent); and (iv) the expected duration of the delay arising directly out of the Force Majeure Event; (b) the Precluded Party’s 's obligation to perform the Affected Obligations will, to the Precluded Extent, be suspended for the duration of the actual delay arising directly out of the Force Majeure Event (Actual Delay); and (c) the other Party’s 's obligations to perform any obligations dependent on the Affected Obligations will be suspended until the Precluded Party resumes performance.

Appears in 1 contract

Samples: User Access Agreement

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