Common use of Termination Following Force Majeure Event Clause in Contracts

Termination Following Force Majeure Event. If a Force Majeure Event has occurred after the Commercial Operation Date that has caused either Party to be wholly or partially unable to perform its obligations hereunder in any material respect, and the impacted Party has claimed and received relief from performance of its obligations for a consecutive twelve (12) month period, then the non-claiming Party may terminate this Agreement upon Notice to the other Party. If the non-claiming Party fails to terminate this Agreement within three (3) months thereafter, then the claiming Party may terminate this Agreement provided the claiming Party has used commercially reasonable efforts to overcome such Force Majeure Event. Upon any such termination, neither Party shall have any liability to the other Party, save and except for those obligations specified in Section 2.1(b), and Buyer shall promptly return to Seller any Performance Security then held by Buyer, less any amounts drawn in accordance with this Agreement.

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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Termination Following Force Majeure Event. If a Force Majeure Event has occurred after the Commercial Operation Date that has caused either Party to be wholly or partially unable to perform its obligations hereunder in any material respecthereunder, and the impacted Party has claimed and received relief from performance of its obligations for a consecutive twelve (12) month period, then the non-claiming Party may terminate this Agreement upon written Notice to the other Party. If Party with respect to the non-claiming Party fails to terminate this Agreement within three (3) months thereafter, then Facility experiencing the claiming Party may terminate this Agreement provided the claiming Party has used commercially reasonable efforts to overcome such Force Majeure Event. Upon any such termination, neither the non-claiming Party shall have any no liability to the other Force Majeure Event claiming Party, save and except for costs incurred and balances owed prior to the effective date of such termination and those obligations specified in Section 2.1(b), and Buyer shall promptly return to Seller any Performance Security Collateral Requirement then held by Buyer, less any amounts drawn in accordance with this Agreement.

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

Termination Following Force Majeure Event. If a Force Majeure Event has occurred after the Commercial Operation Date that has caused either Party to be wholly or partially unable to perform its obligations hereunder in any material respecthereunder, and the impacted Party has claimed and received relief from performance of its obligations for a consecutive twelve (12) month period, then the non-claiming Party may terminate this Agreement upon written Notice to the other Party. If Party with respect to the non-claiming Party fails to terminate this Agreement within three (3) months thereafter, then Facility experiencing the claiming Party may terminate this Agreement provided the claiming Party has used commercially reasonable efforts to overcome such Force Majeure Event. Upon any such termination, neither the non-claiming Party shall have any no liability to the other Force Majeure Event claiming Party, save and except for costs incurred and balances owed prior to the effective date of such termination and those obligations specified in Section 2.1(b), and Buyer shall promptly return to Seller any Performance Security then held by Buyer, less any amounts drawn in accordance with this Agreement.

Appears in 1 contract

Samples: Power Purchase Agreement

Termination Following Force Majeure Event. If a Force Majeure Event has occurred after the Commercial Operation Date that has caused either Party to be wholly or partially unable to perform its obligations hereunder in any material respecthereunder, and the impacted Party has claimed and received relief from performance of its obligations for a consecutive twelve (12) month period, then the non-non- claiming Party may terminate this Agreement upon written Notice to the other Party. If Party with respect to the non-claiming Party fails to terminate this Agreement within three (3) months thereafter, then Facility experiencing the claiming Party may terminate this Agreement provided the claiming Party has used commercially reasonable efforts to overcome such Force Majeure Event. Upon any such termination, neither the non-claiming Party shall have any no liability to the other Force Majeure Event claiming Party, save and except for costs incurred and balances owed prior to the effective date of such termination and those obligations specified in Section 2.1(b), and Buyer shall promptly return to Seller any Performance Security Collateral Requirement then held by Buyer, less any amounts drawn in accordance with this Agreement.

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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Termination Following Force Majeure Event. If a Force Majeure Event has occurred after the Commercial Operation Date that has caused either Party to be wholly or partially unable to perform its obligations hereunder in any material respecthereunder, and the impacted Party has claimed and received relief from performance of its obligations for a consecutive twelve (12) month period, then the non-claiming Party may terminate this Agreement upon written Notice to the other Party. If Party with respect to the non-claiming Party fails to terminate this Agreement within three (3) months thereafter, then Facility experiencing the claiming Party may terminate this Agreement provided the claiming Party has used commercially reasonable efforts to overcome such Force Majeure Event. Upon any such termination, neither the non-claiming Party shall have any no liability to the other Force Majeure Event claiming Party, save and except for costs incurred and balances owed prior to the effective date of such termination and those obligations specified in Section 2.1(b), and Buyer shall promptly return to Seller any Performance Security Collateral Requirement then held by Buyer, less any amounts drawn in accordance with this Agreement.. 42

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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