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.
South Dakota Notice by Lessee of Force Majeure with Events Preventing Ability to Perform Operations on A Lease
Category:
State:
Multi-State
Control #:
US-OG-359
Format:
Word;
Rich Text
Instant download
Description
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
Typical force majeure clauses give a contractual right to suspend payment while performance is suspended. Less commonly, such clauses allow termination if, for instance, the force majeure event continues for a specified period. You should check your clause to see if it allows termination (cancellation).
Force majeure is a provision in a contract that frees both parties from obligation if an extraordinary event directly prevents one or both parties from performing.
A force majeure clause includes three elements: It specifies the events which enable either party to declare a force majeure/act of God event. It states how a party should notify its counterparty about the occurrence. It describes the consequences after a force majeure event has occurred.
Force majeure is a clause that is included in contracts to remove liability for unforeseeable and unavoidable catastrophes that interrupt the expected course of events and prevent participants from fulfilling obligations.
For example, parties in the United States have used the COVID-19 pandemic as a force majeure in an attempt to escape contractual liability by applying the elements of an (1) unforeseeable event, (2) outside of the parties' control, that (3) renders performance impossible or impractical.
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.
Examples of events that might trigger a force majeure clause into effect include a declaration of war, a disease epidemic, or a hurricane, earthquake, or other natural disaster events that fall under the legal term, ?act of God.?
