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.
Wyoming Force Majeure and Restricted Performance
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Multi-State
Control #:
US-OL1102A2C
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Word;
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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 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 clauses vary depending on the jurisdiction, industry, and type of contract. They may include specific events, such as natural disasters, war, or pandemic, or general terms, such as acts of God, impossibility, or hardship.
Force majeure is a French term that literally means ?greater force.? It is related to the concept of an act of God, an event for which no party can be held accountable, such as a hurricane or a tornado. However, force majeure also encompasses human actions, such as armed conflict.
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.
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).
Events that could potentially trigger a force majeure clause include war, terrorist attacks, and a pandemic, or natural disasters that fall under the ?act of God? category, such as a flood, earthquake, or hurricane.
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.
