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.
Mississippi Standard Force Majeure Clause
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Multi-State
Control #:
US-OL1102A2A
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How to fill out Standard Force Majeure Clause?
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Force Majeure In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil ...
It provides that if a force majeure event occurs, one or both parties are excused from performing under the contract. The non-performing party will not be liable to the other party, or deemed to have defaulted under or breached the contract, if it cannot perform because of a 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.
Force Majeure: For the purposes of this contract, an event of ?force majeure? shall mean any strikes, work stoppages or other labor difficulties, fires, floods or other acts of God: acts of government or any subdivision or agency thereof; which are beyond the control of the party claiming the occurrence of a force ...
One of the key aspects of negotiating force majeure clauses is to define the terms and conditions that will trigger and govern the application of the clause. You should be clear and specific about what constitutes a force majeure event, and avoid vague or broad terms that may create ambiguity or disputes.
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 purpose of a force majeure clause is to permit an excuse or delay in performing a contract when unforeseeable events occur. What force majeure clauses typically not do is provide parties a right to raise their prices or change the terms of a contract if performance becomes difficult or costly.
What are examples of force majeure? Events that could potentially trigger a force majeure clause include war, terrorist attacks, and a pandemic, or natural disasters that fall under the ?act of God? category, such as a flood, earthquake, or hurricane.
