This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Nevada Force Majeure
Category:
State:
Multi-State
Control #:
US-OG-796
Format:
Word;
Rich Text
Instant download
Description
How to fill out Force Majeure?
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FAQ
?Force majeure? means any unforeseeable circumstance which is beyond the control of a Party, or any unavoidable event, even if foreseeable, as a result of which such Party is unable to perform its obligations, in whole or in part, under this Agreement.
Typical force majeure events include natural disasters (fire, storms, floods), governmental or societal actions (war, invasion, civil unrest, labor strikes), and infrastructure failures (transportation, energy).
Force majeure is used to describe any event that is unexpected by parties to a contract, not caused by any party, and affects the relationship between them. Its use can limit the ability of either party's duty to perform or require a party to intrude on a privilege of the other.
Fortuitous events must not be caused by man but by nature. Therefore, economic crises are not considered as force majeure events that allows a debtor to be free of his obligation or debt. However such crises as an effect of wars such as WWII are considered as force majeure events as stated in Sagrada v.
Definition. 1. Force majeure is the situation-based doctrine under which a supervening event may excuse liability for non-performance, provided the supervening event is unforeseeable, uncontrollable, and makes the performance of an obligation impossible ? thus qualifying as a ?force majeure event?.
The event must be either unforeseeable or unavoidable; The event must be such as to render it impossible for the debtor to fulfill his obligation in a normal manner; and. The party claiming did not participate in, nor aggravate, the injury to the other party.
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.
