Common use of Termination Due to Force Majeure Event Clause in Contracts

Termination Due to Force Majeure Event. (i) If a Force Majeure Event shall occur relative to a material obligation of either Party, and such Force Majeure Event or the effect thereof prevents or is reasonably anticipated to prevent the performance of such obligation for a period of one hundred eighty (180) Days or more, the affected Party, upon Notice to the other Party, may, in the affected Party’s sole discretion, terminate this Agreement forthwith without payment, damage or penalty as a result of such termination and the Parties hereby waive any right to any such damage, penalty, or payment. (ii) Purchaser may terminate this Agreement upon Notice to Seller if (A) a Force Majeure Event occurs that diminishes the production of the System by more than fifty (50%) of the Annual Contract Quantity for a period of twelve (12) consecutive months, or (B) the System is rendered inoperable and a Qualified Engineer that is mutually acceptable to both Parties determines that the System cannot be repaired or replaced within a period not to exceed twenty-four (24) months following the date of the occurrence of the Force Majeure Event. (iii) Upon termination under this Section 12.5(b)(i) or (ii), neither Party shall be obligated to the other for the payment of any costs or expenses, except that Purchaser shall be obligated to pay Seller the Monthly Fee(s) that have accrued through the date of such termination but have not been paid.

Termination Due to Force Majeure Event. (i) If a Force Majeure Event shall occur relative to a material obligation of either Party, and such Force Majeure Event or the effect thereof prevents or is reasonably anticipated to prevent the performance of such obligation for a period of one hundred eighty (180) Days or more, the affected Party, upon Notice to the other Party, may, in the affected Party’s sole discretion, terminate this DocuSign Envelope ID: B0A47EA5-ADDC-4324-853B-09D49711DBFF Agreement forthwith without payment, damage or penalty as a result of such termination and the Parties hereby waive any right to any such damage, penalty, or payment. (ii) Purchaser may terminate this Agreement upon Notice to Seller if (A) a Force Majeure Event occurs that diminishes the production of the System by more than fifty (50%) of the Annual Contract Quantity for a period of twelve (12) consecutive months, or (B) the System is rendered inoperable and a Qualified Engineer that is mutually acceptable to both Parties determines that the System cannot be repaired or replaced within a period not to exceed twenty-four (24) months following the date of the occurrence of the Force Majeure Event. (iii) Upon termination under this Section 12.5(b)(i) or (ii), neither Party shall be obligated to the other for the payment of any costs or expenses, except that Purchaser shall be obligated to pay Seller the Monthly Fee(s) that have accrued through the date of such termination but have not been paid.

Termination Due to Force Majeure Event. (i) If a Force Majeure Event shall occur relative to a material obligation of either Party, and such Force Majeure Event or the effect thereof prevents or is reasonably anticipated to prevent the performance of such obligation for a period of [one hundred eighty (180) )] Days or more, the affected Party, upon Notice to the other Party, may, in the affected Party’s sole discretion, terminate this Agreement forthwith without payment, damage or penalty as a result of such termination and the Parties hereby waive any right to any such damage, penalty, or payment. (ii) Purchaser may terminate this Agreement upon Notice to Seller if (A) a Force Majeure Event occurs that diminishes the production of the System by more than [fifty (50%) )] of the Annual Contract Quantity for a period of [twelve (12) )] consecutive months, or (B) the System is rendered inoperable and a Qualified Engineer that is mutually acceptable to both Parties determines that the System cannot be repaired or replaced within a period not to exceed twenty-four [twelve (24) 12)] months following the date of the occurrence of the Force Majeure Event. (iii) Upon termination under this Section 12.5(b)(i) or (ii), neither Party shall be obligated to the other for the payment of any costs or expenses, except that Purchaser shall be obligated to pay Seller the Monthly Fee(s) that have accrued through the date of such termination but have not been paid.

Termination Due to Force Majeure Event. (i) If a Force Majeure Event shall occur relative to a material obligation of either Party, and such Force Majeure Event or the effect thereof prevents or is reasonably anticipated to prevent the performance of such obligation for a period of [one hundred eighty (180) )] Days or more, the affected Party, upon Notice to the other Party, may, in the affected Party’s sole discretion, terminate this Agreement forthwith without payment, damage or penalty as a result of such termination and the Parties hereby waive any right to any such damage, penalty, or payment. (ii) Purchaser may terminate this Agreement upon Notice to Seller if (A) a Force Majeure Event occurs that diminishes the production of the System by more than [fifty (50%) )] of the Annual Contract Quantity for a period of [twelve (12) )] consecutive months, or (B) the System is rendered inoperable and a Qualified Engineer that is mutually acceptable to both Parties determines that the System cannot be repaired or replaced within a period not to exceed twenty-four [twelve (24) 12)] months following the date of the occurrence of the Force Majeure Event. (iii) Upon termination under this Section 12.5(b)(i) or (ii), neither Party shall be obligated to the other for the payment of any costs or expenses, except that Purchaser shall be obligated to pay Seller the Monthly Fee(s) that have accrued through the date of such termination but have not been paid.