Force Majeure Event definition
Examples of Force Majeure Event in a sentence
A Force Majeure Event shall not include lack of funds, bankruptcy or other financial cause or disadvantage.
A Party may terminate this CMSA upon providing written notice to the other Party if the other Party is unable to fulfill its obligations under this CMSA and/or any applicable Purchase Order, or related type document due to a Force Majeure Event which cannot be removed, overcome or abated within [****] (or within such other period as the Parties jointly shall agree in writing) from the initial date of such Force Majeure Event.
Notwithstanding the foregoing, a Party will not be excused from making payments owed hereunder due to any such Force Majeure Event affecting such Party.
During any period of any Force Majeure Event, the Parties affected by such Force Majeure Event shall take any reasonable action necessary to mitigate the effects of such Force Majeure Event.
If either Party shall be affected by a Force Majeure Event, such Party shall give the other Party a notice thereof within seven (7) Business Days of its occurrence, which notice shall contain the affected Party’s estimate of the duration of such condition (to the extent reasonably practicable) and a description of the steps being taken or proposed to be taken to overcome such Force Majeure Event.