This form brings together several boilerplate Force Majeure contract clauses that work together to outline the definition, effect, remedies, and procedures applicable under a contract agreement as a result of a Force Majeure event.
The Oregon Force Mature — Long-Form Provision is a legal clause included in contracts that addresses unforeseen events or circumstances that may prevent one or both parties from fulfilling their obligations. This provision can protect the parties from liability or financial loss in situations where performance becomes impossible or impracticable due to events beyond their control. In Oregon, the Force Mature provision is typically designed to cover a wide range of events, including natural disasters, government actions, acts of terrorism, labor strikes, epidemics, and other similar occurrences that make performance under the contract unattainable. It outlines the rights and obligations of the parties involved when a force majeure event occurs and ensures fairness in handling such situations. There are a few different types of Oregon Force Mature — Long-Form Provisions that may be used, depending on the specific needs and preferences of the parties involved: 1. General Force Mature Clause: This clause provides a broad definition of force majeure events, encompassing a wide range of unforeseen circumstances that may prevent contract performance. 2. Specific Force Mature Events: Some contracts may include a more specific list of force majeure events unique to the industry or nature of the agreement. This can ensure that only designated events entitle the parties to claim force majeure protection. 3. Notice Requirements: The provision may outline specific notice requirements that the affected party must fulfill when invoking force majeure. This ensures that both parties are promptly informed of the event and its impact on the contract. 4. Duration of Force Mature: This clause clarifies how long the force majeure event must persist before the affected party is eligible to invoke it. It also outlines what happens after the event ends, such as resuming performance or terminating the contract. 5. Mitigation Efforts: The provision may require the parties to take reasonable steps to mitigate the impact of the force majeure event on contract performance. This can include exploring alternative means of fulfilling obligations or adjusting timelines. 6. Termination Rights: In more severe cases where the force majeure event renders performance impossible or excessively burdensome for an extended period, the provision may allow the parties to terminate the contract without incurring penalties or liability. 7. Compensation and Liability: This section clarifies the allocation of financial responsibility during force majeure events, determining whether any party should be compensated for losses incurred or relieved from financial obligations. In Oregon, the Force Mature — Long-Form Provision plays a crucial role in safeguarding the interests of businesses and individuals engaging in contractual agreements. It allows parties to address the uncertainties and risks associated with unforeseen circumstances and promotes fairness in resolving issues that may arise due to events beyond their control.
