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.
In Oregon, a Fairer Force Mature Clause is a contractual provision that allocates risk and provides protection to parties in the event of unforeseen or unavoidable circumstances that may prevent one or both parties from fulfilling their contractual obligations. The purpose of this clause is to address situations beyond the control of the parties, such as natural disasters, acts of God, or other unforeseen events that render performance impossible or impracticable. The Oregon Fairer Force Mature Clause seeks to establish a fair and balanced framework by outlining the rights and obligations of the contracting parties during force majeure events. This clause acknowledges that both parties may be impacted by unforeseen circumstances and strives to allocate the associated risks fairly. Key components of an Oregon Fairer Force Mature Clause may include: 1. Definition: This clause will typically contain a clear definition of what constitutes a force majeure event, encompassing events such as earthquakes, floods, fires, wars, government acts, labor strikes, epidemics, and other events that are beyond the control of the parties. 2. Notification: The clause may require the party affected by the force majeure event to provide timely notice to the other party, detailing the nature of the event, its impact on performance, and the anticipated duration of the force majeure event. This allows the parties to work together to address the situation. 3. Suspension or Termination: The Fairer Force Mature Clause may grant the affected party the right to temporarily suspend performance or terminate the contract if the force majeure event continues for an extended period, making performance of the contract impracticable or economically unfeasible. 4. Mitigation Efforts: The clause may also impose an obligation on the affected party to take reasonable steps to mitigate the impact of the force majeure event and resume performance as soon as commercially or practically possible. 5. Compensation and Liability: The Fairer Force Mature Clause may outline the parties' rights and obligations regarding compensation for costs incurred or losses suffered as a result of the force majeure event. It may also specify that neither party shall be held liable for damages or penalties arising from non-performance caused by a force majeure event. Different types or variations of Fairer Force Mature Clauses may exist depending on the nature of the contract or the preferences of the parties involved. These variations may be tailored to meet specific industry requirements or address unique circumstances. However, the fundamental purpose of these clauses remains consistent — to establish a fair and equitable allocation of risk and obligations when faced with unforeseen events that are beyond the control of the contracting parties.
