Common use of FORCE MAJEURE Clause in Contracts

FORCE MAJEURE. 5.1. The Parties shall be released from any responsibility for failure to fulfill any of the provisions of the Agreement in full or in part if such a non-fulfillment occurred due to the reasons which are beyond the control of the defaulting Party. Such reasons include, but are not limited to, natural calamity, extreme weather conditions, fires, floods, strikes, military actions, civil disturbances, etc. (hereinafter referred to as “force-majeure”). The period of such release shall commence on the date of declaration of force-majeure by the defaulting Party and shall cease or would cease if the defaulting Party takes or took such steps as it actually could take in order to overcome the force-majeure. 5.2. Force-majeure shall automatically extend the term of fulfillment of the Parties’ obligations for the whole period of its duration and liquidation of its consequences. The Parties shall notify each other in writing about the commencement of force-majeure circumstances without delay. 5.3. Should such circumstances remain in force for more than 6 months, each of the Parties shall have the right to waive further fulfillment of its obligations hereunder, and in such case neither of the Parties shall be entitled to claim reimbursement of its possible losses by the other Party.

FORCE MAJEURE. 5.1. The Parties shall be released from any responsibility for full or partial failure to fulfill any of the provisions of the Agreement in full or in part if such a non-non- fulfillment occurred due to the resulted from reasons which are beyond the control of the defaulting Party. Such reasons include, but are not limited to, natural calamity, extreme weather conditions, fires, floods, strikes, military actions, civil disturbances, break of Bank’s systems, etc. (hereinafter referred to as “force-majeure”). The period of such release shall commence on the date of begin upon declaration of force-majeure by the defaulting Party and shall cease or would cease if the defaulting Party takes or took such steps as it actually could take in order to overcome the get out of force-majeure. 5.2. Force-majeure shall automatically extend the term of fulfillment of the Parties’ obligations for the whole period of its duration and liquidation of its consequences. The Parties shall notify each other in writing about the commencement beginning of force-majeure circumstances without delay. 5.3. Should such circumstances remain in force for more than 6 months, each of the Parties shall have the right to waive further fulfillment of its obligations hereunder, and in such case neither of the Parties shall be entitled to claim reimbursement of its possible losses by the other Party.

FORCE MAJEURE. 5.1. The Parties shall be released from any responsibility for failure to fulfill any of the provisions of the Agreement in full or in part if such a non-fulfillment occurred due to the reasons which are beyond the control of the defaulting Party. Such reasons include, but are not limited to, natural calamity, extreme weather conditions, fires, floods, strikes, military actions, civil disturbances, etc. (hereinafter referred to as “force-majeure”). The period of such release shall commence on the date of declaration of force-majeure by the defaulting Party and shall cease or would cease if the defaulting Party takes or took such steps as it actually could take in order to overcome the force-majeure. 5.2. Force-majeure shall automatically extend the term of fulfillment of the Parties’ obligations for the whole period of its duration and liquidation of its consequences. The Parties shall notify each other in writing about the commencement of force-majeure circumstances without delay. 5.3. Should such circumstances remain in force for more than 6 months, each of the Parties shall have the right to waive further fulfillment of its obligations hereunder, and in such case neither of the Parties shall be entitled to claim reimbursement of its possible losses by the other Party. 6.