Exemption Clause. In the event that the performance of this agreement is prevented or hindered due to unforeseeable and irresistible factors such as natural disasters, war, or significant changes in national laws or policies, the defaulting party shall not be liable for breach of contract. However, if the defaulting party fails to notify the other party within a reasonable time and provide corresponding evidence, resulting in an increase in the other party’s economic losses, the defaulting party shall be liable for compensating the additional economic losses incurred by the other party.
Appears in 3 contracts
Sources: Operation and Strategic Planning Advisory Agreement (Northann Corp.), Financing and Strategic Planning Advisory Agreement (Northann Corp.), Financing and Strategic Planning Advisory Agreement (Northann Corp.)