This office lease form states the tenants obligations to pay rent and perform all the covenants and agreements of the lease even when the landlord is unable to perform obligations under the lease as a result of any natural causalities.
Indiana Standard Force Majeure Clause
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Multi-State
Control #:
US-OL1102A2A
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Word;
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How to fill out Standard Force Majeure Clause?
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FAQ
Common examples of force majeure events include acts of war, terrorist attacks, epidemics, pandemics like COVID-19, death, labor strikes, riots, crime or property theft, acts of God, natural disasters (like blizzards, earthquakes, or hurricanes), or acts of terrorism.
Either Party shall be excused from performance and shall not be in default in respect of any obligation hereunder to the extent that the failure to perform such obligation is due to a Natural Force Majeure Event.
Neither party will be liable for inadequate performance to the extent caused by a condition (for example, natural disaster, act of war or terrorism, riot, labor condition, governmental action, and Internet disturbance) that was beyond the party's reasonable control.
If no force majeure clause exists, then the doctrine of frustration may apply where unforeseen events happen and it is important for all businesses to understand how the concept works and when it is appropriate to use it.
What are the three elements of force majeure? In general, for an event to trigger a force majeure clause, it must be unforeseeable, external to the parties of the contract, and serious enough that it renders it impossible for the party to perform its contractual obligations.
The clause aims to provide relief to a party to a contract when an unexpected event occurs that is beyond the party's control, leaving them unable to perform their contractual obligation(s) 5 6. The force majeure clause is sometimes referred to as an ?Act of God? clause or an ?excusable delay? clause 2 3 5.
Sample: "The validity of this Agreement, the construction of its terms and the determination of the rights and duties of the parties hereto shall be governed by and construed in ance with the laws of the State of New York."
Force majeure events generally can be divided into two basic groups: natural events and political events.
