Common use of FORCE MAJEURE Clause in Contracts

FORCE MAJEURE. 14.1. A Party’s obligations in terms of these Standard Terms shall be suspended for such period during which that Party is prevented from complying with said obligations due to Force Majeure, provided that such Party has: (a) notified the other Party of the existence of such ForceMajeure, (b) does everything in its/his/her power to comply with the obligations in terms of the Credit Agreement not withstanding the existence of Force Majeure; and (c) fulfils its obligations once the Force Majeure event has ceased to exist, within the time specified by the other Party. 14.2. For the avoidance of doubt, Force Majeure shall only suspend a Party’s obligation in so far as it is impossible for the Party to perform the same and shall in no case excuse such Party from the obligation to perform other obligations in terms of the Credit Agreement. Force Majeure is understood to mean an event that is unpredictable and beyond the Parties’ control, e.g. strike, legislative restriction imposed by the government or an EU authority, sabotage, uprising, natural disasters or similar circumstances causing impossibility in fulfilling the obligations arising from the Credit Agreement but shall not include termination of employment or other conditions effecting your capacity to repay amounts due to Ferratum.

FORCE MAJEURE. 14.1. A Party’s obligations in terms of these Standard Terms shall be suspended for such period during which that Party is prevented from complying with said obligations due to Force Majeure, provided that such Party has: (a) notified the other Party of the existence of such ForceMajeureForce Majeure, (b) does everything in its/his/her power to comply with the obligations in terms of the Credit Agreement not withstanding the existence of Force Majeure; and (c) fulfils its obligations once the Force Majeure event has ceased to exist, within the time specified by the other Party. 14.2. For the avoidance of doubt, Force Majeure shall only suspend a Party’s obligation in so far as it is impossible for the Party to perform the same and shall in no case excuse such Party from the obligation to perform other obligations in terms of the Credit Agreement. Force Majeure is understood to mean an event that is unpredictable and beyond the Parties’ control, e.g. strike, legislative restriction imposed by the government or an EU authority, sabotage, uprising, natural disasters or similar circumstances causing impossibility in fulfilling the obligations arising from the Credit Agreement but shall not include termination of employment or other conditions effecting your capacity to repay amounts due to Ferratum.