Common use of Relief from Obligations Clause in Contracts

Relief from Obligations. If an event of Force Majeure occurs with respect to either Party, then provided the affected Party: (a) promptly notifies the other Party about the Force Majeure, the obligations that will be prevented in whole or in part, and the anticipated duration of the event; (b) thereafter makes all commercially reasonable efforts to mitigate the effects of that Force Majeure so that it can resume performance; and (c) provides regular updates on the progress of its mitigation to the other Party; both Parties will be relieved of their obligation to perform under this Investment Agreement (and such lack of performance will not constitute a Default) to the extent of, and for the duration of, the Force Majeure.