Reductions for Force Majeure Events Sample Clauses

Reductions for Force Majeure Events. In the event of a Force Majeure Event (other than an NBA work stoppage, including a strike or a lockout) during an Operating Year that results in the Team not playing Home Games that are NBA Regular Season Games in the Arena, the Annual Fee with respect to such Operating Year shall be reduced by an amount equal to the greater of (A) the Annual Fee otherwise owing with respect to such Operating Year (without taking into account the applicable Force Majeure Event) multiplied by a fraction, the numerator of which is the number of Home Games that are NBA Regular Season Games not played by the Team in the Arena due to such Force Majeure Event and the denominator of which is the number of Home Games that are NBA Regular Season Games scheduled during such Operating Year and (B) the amount ArenaCo or its Affiliates must pay another arena to play such Home Games at such other arena. Notwithstanding the foregoing, the reduction in the Annual Fee as permitted by this Section 3.2 is capped for each Operating Year (without carry‐over for subsequent Operating Years) such that the sum of the Annual Fee and the proceeds actually received by the City from the City Rental‐Interruption Insurance attributable to such Operating Year (the "Minimum FM Annual Payment"): (i) will be $1,000,000 for each of the first, second, third, fourth, and fifth Operating Years, (ii) for the sixth Operating Year, the Minimum FM Annual Payment will be $1,000,000, as increased, on a compounding basis, to an amount that would have been the Minimum FM Annual Payment if each of the Annual Adjustments for the second, third, fourth, fifth, and sixth Operating Years had occurred, and (iii) for each subsequent Operating Year, the Minimum FM Annual Payment is the Minimum FM Annual Payment for the immediately prior Operating Year, as increased by the Annual Adjustment for such subsequent Operating Year. For the purposes of this Section 3.2 only, the term "Home Games that are NBA Regular Season Games" includes Home Games that are NBA Regular Season Games that are scheduled to be played at the Arena but, due to a Force Majeure Event, are not actually played at the Arena (whether because cancelled or because played at an Alternate Site (as defined in the Team Agreement)).
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Related to Reductions for Force Majeure Events

  • Force Majeure Events a) Neither Party shall be responsible or liable for or deemed in breach hereof because of any delay or failure in the performance of its obligations hereunder (except for obligations to pay money due prior to occurrence of Force Majeure events under this Agreement) or failure to meet milestone dates due to any event or circumstance (a "Force Majeure Event") beyond the reasonable control of the Party experiencing such delay or failure, including the occurrence of any of the following:

  • Termination Notice for Force Majeure Event If a Force Majeure Event subsists for a period of 180 (one hundred and eighty) days or more within a continuous period of 365 (three hundred and sixty five) days, either Party may in its discretion terminate this Agreement by issuing a Termination Notice to the other Party without being liable in any manner whatsoever, save as provided in this Article 34, and upon issue of such Termination Notice, this Agreement shall, notwithstanding anything to the contrary contained herein, stand terminated forthwith; provided that before issuing such Termination Notice, the Party intending to issue the Termination Notice shall inform the other Party of such intention and grant 15 (fifteen) days time to make a representation, and may after the expiry of such 15 (fifteen) days period, whether or not it is in receipt of such representation, in its sole discretion issue the Termination Notice.

  • Termination for Force Majeure In the event of a force majeure that lasts longer than thirty (30) days from the date that a Party claiming relief due to the force majeure event gives notice to the other Party, the Party not claiming relief under the force majeure event may terminate this Agreement upon written notice to the other Party. For the avoidance of doubt, the COVID-19 pandemic does not constitute a force majeure event.

  • H7 Force Majeure H7.1 Neither Party, shall be liable to the other Party for any delay in performing, or failure to perform, its obligations under the Contract (other than a payment of money) to the extent that such delay or failure is a result of Force Majeure. Notwithstanding the foregoing, each Party shall use all reasonable endeavours to continue to perform its obligations under the Contract for the duration of such Force Majeure. However, if such Force Majeure prevents either Party from performing its material obligations under the Contract for a period in excess of six (6) Months, either Party may terminate the Contract with immediate effect by notice in writing.

  • No Default for Force Majeure Neither Party will be in default in the performance of any of its obligations set forth in this Agreement, except for obligations to pay money, when and to the extent failure of performance is caused by Force Majeure.

  • Reporting of Non-Force Majeure Events Each Party (the “Notifying Party”) shall notify the other Parties when the Notifying Party becomes aware of its inability to comply with the provisions of this Agreement for a reason other than a Force Majeure event. The Parties agree to cooperate with each other and provide necessary information regarding such inability to comply, including the date, duration, reason for the inability to comply, and corrective actions taken or planned to be taken with respect to such inability to comply. Notwithstanding the foregoing, notification, cooperation or information provided under this Article shall not entitle the Party receiving such notification to allege a cause for anticipatory breach of this Agreement.

  • Force Majeure Event 16.1 If a Force Majeure Event gives rise to a failure or delay in either party performing any obligation under this Agreement (other than any obligation to make a payment), that obligation will be suspended for the duration of the Force Majeure Event.

  • SAVINGS/FORCE MAJEURE A Force Majeure occurrence is an event or effect that cannot be reasonably anticipated or controlled and is not due to the negligence or willful misconduct of the affected party. Force Majeure includes, but is not limited to, acts of God, acts of war, acts of public enemies, terrorism, strikes, fires, explosions, actions of the elements, floods, or other similar causes beyond the control of the Contractor or the Commissioner in the performance of the Contract where non- performance, by exercise of reasonable diligence, cannot be prevented. The affected party shall provide the other party with written notice of any Force Majeure occurrence as soon as the delay is known and provide the other party with a written contingency plan to address the Force Majeure occurrence, including, but not limited to, specificity on quantities of materials, tooling, people, and other resources that will need to be redirected to another facility and the process of redirecting them. Furthermore, the affected party shall use its commercially reasonable efforts to resume proper performance within an appropriate period of time. Notwithstanding the foregoing, if the Force Majeure condition continues beyond thirty (30) days, the Parties shall jointly decide on an appropriate course of action that will permit fulfillment of the Parties’ objectives hereunder. The Contractor agrees that in the event of a delay or failure of performance by the Contractor, under the Contract due to a Force Majeure occurrence:

  • Available Relief for a Force Majeure Event 11.7.1 Subject to this Article 11:

  • Duration of relief for force majeure The right of an Affected Party to relief under Clause 17.2 shall cease on the earlier of:

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