Common use of Prevention of Performance Clause in Contracts

Prevention of Performance. The Client agrees that the Custodian will not be responsible for any failure to perform any of its obligations (nor will it be responsible for any unavailability of Cash in the applicable currency credited to the Client) if such performance by the Custodian or any Agent of the Custodian is prevented, hindered or delayed by a Force Majeure Event. “Force Majeure Event” means any event attributable to a cause beyond the reasonable control of the Custodian or its Agent such as restrictions on convertibility or transferability, requisitions, involuntary transfers, unavailability of any Clearance System, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government or similar institutions, as well as any other matter specified as a country risk in this Agreement. On the occurrence of any Force Majeure Event, the obligations of the Custodian will be suspended for so long as the Force Majeure Event continues. Upon the occurrence of any Force Majeure Event, the Custodian shall inform the Client and shall use its reasonable efforts to minimize the effect of the Force Majeure Event on the Client. For the avoidance of doubt, the Custodian confirms that it and each Agent maintains and regularly tests disaster recovery plans and contingency back-up services.

Prevention of Performance. The Client agrees that Neither the Custodian nor the Client will not be responsible to the other for any failure to perform any of its obligations (nor will it the Custodian be responsible for any unavailability of Cash in the applicable currency funds credited to the Clienta Cash Account) if such performance by the Custodian or any Agent of the Custodian is prevented, hindered or delayed by a Force Majeure Event, provided that such failure to perform is not a result of a party’s failure to maintain and implement a business continuity plan as described below. In such case, a party’s obligations will be suspended for so long as the Force Majeure Event continues. “Force Majeure Event” means any event attributable due to a any cause beyond the reasonable control of the Custodian or its Agent the Client, such as restrictions on convertibility or transferability, requisitions, involuntary transfers, unavailability of any Clearance Systemcommunications system, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government or similar institutions, as well as any other matter specified as a country risk in this Agreement. On the occurrence of any Force Majeure Event, the obligations of the Custodian will be suspended for so long as the Force Majeure Event continuesgovernment. Upon the occurrence of any Force Majeure Event, the Custodian shall party affected by that event will inform the Client other party to this Agreement and shall will use its reasonable efforts to minimize mitigate any losses that the effect of the Force Majeure Event on the Clientother party may suffer as a result thereof. For the avoidance of doubt, the Custodian confirms that it and each Agent maintains and regularly tests tests, not less than annually, disaster recovery plans and contingency back-up services.. Notwithstanding the foregoing, the Custodian shall:

Prevention of Performance. The Client agrees that the Custodian will not be responsible for any failure to perform any of its obligations (nor will it be responsible for any unavailability of Cash in the applicable currency credited to the Client) if such performance by the Custodian or any Agent of the Custodian is prevented, hindered or delayed by a Force Majeure Event. “"Force Majeure Event” " means any event attributable to a cause beyond the reasonable control of the Custodian or its Agent such as restrictions on convertibility or transferability, requisitions, involuntary transfers, unavailability of any Clearance System, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government or similar institutions, as well as any other matter specified as a country risk in this Agreement. On the occurrence of any Force Majeure Event, the obligations of the Custodian will be suspended for so long as the Force Majeure Event continues. Upon the occurrence of any Force Majeure Event, the Custodian shall inform the Client and shall use its commercially reasonable efforts to minimize the effect service interruptions as a result of the such Force Majeure Event on the ClientEvent. For the avoidance of doubt, the Custodian confirms that it and each Agent maintains and regularly tests disaster recovery plans and contingency back-up services.

Prevention of Performance. The Client agrees that Neither the Custodian nor the Client will not be responsible for any failure to perform any of its obligations (nor will it the Custodian be responsible for any unavailability of Cash in the applicable currency funds credited to the Clienta Cash Account) if such performance by the Custodian or any Agent of the Custodian is prevented, hindered or delayed by a Force Majeure Event, provided that such failure to perform is not a result of a party’s failure to maintain and implement a business continuity plan as described below. In such case, a party’s obligations will be suspended for so long as the Force Majeure Event continues. “Force Majeure Event” means any event attributable to a cause beyond the reasonable control of the Custodian or its Agent the Client, such as restrictions on convertibility or transferability, requisitions, involuntary transfers, unavailability of any Clearance Systemcommunications system, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government or similar institutions, as well as any other matter specified as a country risk in this Agreement. On the occurrence of any Force Majeure Event, the obligations of the Custodian will be suspended for so long as the Force Majeure Event continuesgovernment. Upon the occurrence of any Force Majeure Event, the Custodian shall party affected by that event will inform the Client other party to this Agreement and shall will use its reasonable efforts to minimize mitigate any losses that the effect of the Force Majeure Event on the Clientother party may suffer as a result thereof. For the avoidance of doubt, the Custodian confirms that it and each Agent maintains and regularly tests tests, not less than annually, disaster recovery plans and contingency back-up services.. Notwithstanding the foregoing, the Custodian shall: