Section 116 Force Majeure Clause Samples
Section 116 Force Majeure defines the circumstances under which a party is excused from performing its contractual obligations due to events beyond its reasonable control. Typically, this clause covers situations such as natural disasters, war, strikes, or government actions that prevent one or both parties from fulfilling their duties under the contract. Its core practical function is to allocate risk and provide relief from liability when unforeseen events make performance impossible or impracticable, thereby ensuring fairness and clarity in the face of extraordinary disruptions.
Section 116 Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, pandemics or epidemics, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.