Political Force Majeure Event definition

Political Force Majeure Event bears the meaning ascribed thereto in Section 16.1(a);

Political Force Majeure Event has the meaning given in Article 14.1.2(b) "Project" has the meaning given in Recital A.

Political Force Majeure Event war (declared or not); hostilities or belligerence; blockade; revolution or insurrection; riot or public disorder; Change-in-Law, expropriation, requisition, confiscation, or nationalization; export or import restrictions other than any in effect as of the Signature Date; closing of harbors, docks, canals, or other assistance to or adjuncts of the shipping or navigation of or within any place; rationing or allocation, whether imposed by law, decree, or regulation by, or by compliance of industry at the insistence of, any Government Authority.

Examples of Political Force Majeure Event in a sentence

• Additionally, the Concessionaire, [but not [ ] in respect of [ ]], shall be excused from performance and shall not be in default in respect of any obligation under this Agreement to the extent that the failure to perform such obligation is due to a Political Force Majeure Event.

• The additional compensation shall cease as soon as the Company’s insurance premiums are no longer affected by the Political Force Majeure Event.

• The Affected Party, to the extent rendered unable to perform its obligations or part of the obligation thereof under this Agreement as a consequence of the Force Majeure Event, shall be excused from performance of the obligations provided that the period shall not exceed 120 Days for a Non-Political Force Majeure Event and 90 Days for a Political Force Majeure Event from the date of issuance of the FM Notice.

• This obligation to compensate shall continue only for the period that the Political Force Majeure Event subsists, provided that this obligation shall not exceed 90 Days from the date of issuance of the FM Notice.

• The Buyer’s Default Purchase Price, the Seller’s Default Purchase Price, Political Force Majeure Event Purchase Price or Other Force Majeure Purchase Price], as the case may be.

More Definitions of Political Force Majeure Event

Political Force Majeure Event is defined in Section 13.1.2 (Political Force Majeure Event).

Political Force Majeure Event has the meaning given in Article 38.1.

Political Force Majeure Event means the events set out in Clause 14.1.2 (b).

Political Force Majeure Event means the events set out in Clause 19.1(b)(ii).

Political Force Majeure Event means a Force Majeure Event for which the event, circumstance or combinations of events or circumstances is or are of the types set forth in Clause 16.1.3.

Political Force Majeure Event. Has the meaning given thereto in Section 23.1(a) of the Agreement.

Political Force Majeure Event means the circumstances which occur after the Execution Date and have a material adverse effect on (i) the ability of the Private Partner to exercise and fulfil any of its rights and obligations under the Agreement, and/or (ii) the cost or the profits of Services/Operations, specifically: 14.5.1.1 act of war (both declared and undeclared), armed conflict or serious threat of such conflict caused by actions of foreign enemy or government bodies, introduction of curfew restrictions, embargo, prohibition (restrictions) of import/export or any other illegal actions against public order or state system in the territory of the Project Assets; 14.5.1.2 groundless rejection to grant or renew any Permit for one hundred twenty (120) days, as well as any groundless termination, suspension, annulment or revocation of any Permit, if the absence of such document makes it materially impossible for the Private Partner to fulfill its obligations and exercise its rights under this Agreement, with the exception of rejections resulting from violation of Applicable Law by the Private Partner; 14.5.1.3 expropriation, requisition, confiscation or nationalization of the Private Partner's property, the Project Assets, or any part thereof having material importance for performance of the Project, or any act or omission by a Public Authority directly resulting in the effective loss of the Private Partner's material value or rights under this Agreement, except for: 14.5.1.3.1 any consequence of a Private Partner Event of Default; 14.5.1.3.2 any action taken, which is deemed to be the Private Partner Event of Default; 14.5.1.3.3 any consequences of Private Partner’s violations of the Applicable Law prescribed by the Applicable Law; 14.5.1.3.4 early Termination of this Agreement by the Public Partner under Clause 17.2.2; 14.5.1.4 the Private Partner being prevented, prohibited, or restricted at any time during the term of this Agreement for a period not shorter than one (1) year from any of the following: 14.5.1.4.1 converting an amount in the National Currency to dollars; 14.5.1.4.2 transferring an amount in dollars from any bank in Armenia to any bank outside of Armenia; 14.5.1.4.3 payment of dividends to the shareholders or applying other means of repatriation or transfer of the Private Partner's profits or gains; and /or 14.5.1.5 the Private Partner being prevented, prohibited or restricted at any time during the term of this Agreement for a period not shorter than six (6) months f...