Common use of Suspension of Obligation Clause in Contracts

Suspension of Obligation. Where a Party is unable, wholly or in part, by reason of a Force Majeure Event, to carry out any obligation under this Agreement (other than an obligation to pay money), and that Party: (a) gives each other Party prompt notice of that Force Majeure Event including reasonable particulars, and, in so far as known, the probable extent to which it will be unable to perform or be delayed in performing that obligation; and (b) uses all possible diligence to remove that Force Majeure Event as quickly as possible, that obligation is suspended so far as it is affected by the Force Majeure Event during the continuance of that Force Majeure Event and that Party will be allowed a reasonable extension of time to perform its obligations.

Appears in 2 contracts

Samples: Project Agreement, Principal Participants Agreement

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Suspension of Obligation. Where a Party is unable, wholly or in part, by reason of a Force Majeure Event, to carry out any obligation under this Agreement agreement (other than an obligation to pay money), and that Party: (a) gives each other Party the Company prompt notice of that Force Majeure Event including reasonable particulars, and, in so far as known, the probable extent to which it will be unable to perform or be delayed in performing that obligation; and (b) uses all possible diligence to remove that Force Majeure Event force majeure as quickly as possible, that obligation is suspended so far as it is affected by the Force Majeure Event during the continuance of that Force Majeure Event and that Party will be allowed a reasonable extension of time to perform its obligations.

Appears in 1 contract

Samples: Participants Agreement

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Suspension of Obligation. Where a Party is unable, wholly or in part, by reason of a Force Majeure Event, to carry out any obligation under this Agreement (other than an obligation to pay money)Agreement, and that Party: (a) gives each other Party prompt notice of that Force Majeure Event including reasonable particulars, and, in so far as known, the probable extent to which it will be unable to perform or be delayed in performing that obligation; and (b) uses all possible diligence to remove that Force Majeure Event as quickly as possible, that obligation is suspended so far as it is affected by the Force Majeure Event during the continuance of that Force Majeure Event and that Party will be allowed a reasonable extension of time to perform its obligations.

Appears in 1 contract

Samples: Project Agreement

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