This office lease form states that if performance by either party of any service or obligation under this agreement is prevented or delayed due to certain severe, circumstances, that party shall be excused from the performance to the extent of the prevention, restriction, delay or interference and the other party shall be responsible for performing all of its obligations.
Oregon Force Majeure and Restricted Performance
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US-OL1102A2C
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FAQ
What is the theory of hardship? Hardship or unforeseeable change of circumstances is defined as a general change in the balance of the performance of the contract due to extraordinary change of circumstances beyond the control of the parties.
Common Uses Of Hardship Clauses A common example of a change in circumstances is an increase in one party's costs. To meet the conditions of the clause, the increase in cost must be significant enough to impair that party's ability to perform an action required by the contract.
?Hardship? is a subjective and flexible term. There's no set legal definition for hardship in every circumstance. However, most courts recognize a hardship as having one or all of the following factors: A long-term negative financial impact on a party. Deprivation, suffering, or adversity for one or more parties.
Hardship case means a person who will suffer significant hardship because of valid financial, medical, or other good and sound reasons.
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.
Force majeure applies to cases where performance has become (temporarily) impossible due to an event beyond one party's control although all reasonable precautionary measures had been taken. Hardship deals with cases where the agreed performance is basically still possible.
The clause aims to provide relief to a party to a contract when an unexpected event occurs that is beyond the party's control, leaving them unable to perform their contractual obligation(s) 5 6. The force majeure clause is sometimes referred to as an ?Act of God? clause or an ?excusable delay? clause 2 3 5.
Force Majeure In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil ...
