Common use of Occurrence of Force Majeure Event Clause in Contracts

Occurrence of Force Majeure Event. A Party (Affected Party) is excused from performing its obligations under this Agreement to the extent it is prevented by circumstances which: are beyond its reasonable control (other than, in respect of the Recipient only, lack of funds for any reason or any strike, lockout or labour dispute) including, natural disasters, acts of war, act of terrorism, riots and strikes outside the Affected Party's organisation; and could not have been prevented or overcome by the Affected Party (or, where the Affected Party is the Recipient) exercising a standard of care and diligence consistent with that of a prudent and competent person operating within the relevant industry (a ‘Force Majeure Event’).

Occurrence of Force Majeure Event. A Party (Affected Party) is excused from performing its obligations under this Agreement to the extent it is prevented by circumstances which: : (a) are beyond its reasonable control (other than, in respect of the Recipient only, lack of funds for any reason or any strike, lockout or labour dispute) including, natural disasters, acts of war, act of terrorism, riots and strikes outside the Affected Party's organisation; and and (b) could not have been prevented or overcome by the Affected Party (or, where the Affected Party is the Recipient) exercising a standard of care and diligence consistent with that of a prudent and competent person operating within the relevant industry (a ‘Force Majeure Event’).