This form is used by the Lessee to give notice that Lessee's obligations to conduct operations on the Lease, which would have the effect of perpetuating or extending the term of the Lease, are suspended or delayed until the cause for the suspension of Lessee's obligations have ceased or are removed.
Indiana Notice by Lessee of Force Majeure with Events Preventing Ability to Perform Operations on A Lease
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Multi-State
Control #:
US-OG-359
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Word;
Rich Text
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How to fill out Notice By Lessee Of Force Majeure With Events Preventing Ability To Perform Operations On A Lease?
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FAQ
Typical force majeure clauses give a contractual right to suspend payment while performance is suspended. Less commonly, such clauses allow termination if, for instance, the force majeure event continues for a specified period. You should check your clause to see if it allows termination (cancellation).
Force Majeure Clause A party is not liable for a failure to perform if he can prove that: (1) the failure was due to an impedement beyond his control; (2) he could not have reasonably foreseen the impediment at the time of contract formation; and (3) he could not have reasonably avoided or overcome its effects.
Force majeure clauses, common in most commercial lease agreements, generally excuse, or temporarily delay, certain landlord or tenant lease obligations due to unforeseen circumstances beyond the parties' control.
If you have a family crisis, you have a right to limited time off work. This is called force majeure leave. You may need to take force majeure leave for an urgent family reason, such as the unexpected injury or illness of a 'close family member'.
A force majeure clause includes three elements: It specifies the events which enable either party to declare a force majeure/act of God event. It states how a party should notify its counterparty about the occurrence. It describes the consequences after a force majeure event has occurred.
Generally speaking, for events to constitute force majeure, they must be unforeseeable, external to the parties of the contract, and unavoidable. These concepts are defined and applied differently depending on the jurisdiction.
Examples of events that might trigger a force majeure clause into effect include a declaration of war, a disease epidemic, or a hurricane, earthquake, or other natural disaster events that fall under the legal term, ?act of God.?
