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.
Oklahoma 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;
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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
You may be able to legally move out before the lease term ends in the following situations. You Are Starting Active Military Duty. ... The Rental Unit Is Unsafe or Violates Oklahoma Health or Safety Codes. ... Your Landlord Harasses You or Violates Your Privacy Rights.
A Standard Clause for oil and gas contracts that excuses the impacted party's performance for force majeure events specific to the oil and gas industry, such as the shut-in, blowout, or loss of control of a well, oil spills and hazardous releases, the freezing of wells or equipment, hydrate obstruction, pipeline ...
Force majeure provisions typically only excuse performance to the extent of and for the duration of the force majeure event. Contrary to many parties' beliefs, force majeure may not permit a party to cancel the contract and cease all future performance, where there is some ability to perform in the future.
A force majeure clause provides contractual relief related to events (such as war, a labor strike, or extreme weather) or effects that cannot be reasonably anticipated or controlled.
The non-performing Party shall notify the other Party of such force majeure within ten (10) days after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration, and any action being taken to avoid or minimize its effect.
Most contracts, including ones involving real estate, contain a force majeure or ?act of God? provision. The purpose of this clause is to excuse one of the parties from the obligation outlined in the agreement if something occurs that cannot be reasonably anticipated.
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.
