This office lease form states that this lease and the obligations of the parties to perform their obligations under this lease shall be suspended and excused in the event that party is prevented or delayed in performing its obligations due to a natural calamity. Nothing under this provision shall require the tenant to waive its rights to cancel this lease under constructive or actual constructive eviction or by law.
New Jersey Fairer Force Majeure Clause
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Multi-State
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US-OL1102A2B
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How to fill out Fairer Force Majeure Clause?
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FAQ
A liquidated damages clause is enforceable regardless of the actual loss suffered by a party, provided the amount payable is not a penalty, ie when it was agreed it was not out of all proportion to the legitimate interest of the innocent party in the enforcement of the primary obligation.
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.
Liquidated damages provisions are generally enforceable if they are intended to compensate the non-breaching party rather than penalize the breaching party. Contracts often provide for fixed amounts of money ? often called ?liquidated damages? ? for breaches of certain contract provisions.
Drafters of force majeure clauses do commonly provide that parties use reasonable endeavours to mitigate the impact of a force majeure provision.
As regards the question of what constitutes force majeure, the ICC Force Majeure Clause intends to achieve a compromise between the general requirements of force majeure, which need to be met in all cases and the indication of events presumed to be beyond the control of the parties and not foreseeable at the time of ...
If a liquidated damages clause is found to be a penalty, it is unenforceable by the party seeking to impose it. Even where the liquidated damages clause is unenforceable because it is a penalty, the clause may still operate as a cap on general damages.
New York enforces liquidated damages clauses so long as the damages are not a ?penalty.? JMD Holding Corp. v. Cong. Fin.
A liquidated damages clause is enforceable so long as [ ](a) the amount so fixed [?]is a reasonable forecast of just compensation for the harm that is caused by the breach,? and (b) the harm that is caused by the breach is one that [?]is incapable or very difficult of accurate estimate.? Given that [defendant's] new ...
