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.
Puerto Rico 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
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).
Article 1105 of the Spanish Civil Code refers to force majeure events. It states that: ?outside the cases expressly mentioned in the law, and those in which the obligation should require it, no one shall be liable for events which cannot be foreseen or which, being foreseen, would be inevitable?.
Although there are a variety of causes of force majeure events, certainly the most-common on a construction project are ?abnormal weather? such as excessive precipitation, extreme cold or extreme heat, and other atypical weather.
For the avoidance of doubt, Force Majeure shall not include (a) financial distress nor the inability of either party to make a profit or avoid a financial loss, (b) changes in market prices or conditions, or (c) a party's financial inability to perform its obligations hereunder.
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 ...
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.
Generally, a force majeure clause includes natural disasters such as fires, earthquakes, floods, hurricanes, and tornadoes, as well as man-made events such as war, terrorism, and strikes.
