Common use of Termination Due to Force Majeure Event Clause in Contracts

Termination Due to Force Majeure Event. If a Party is prevented from performing its material obligations under this Agreement for a period of 180 consecutive days or more due to a Force Majeure Event, the unaffected Party may terminate this Agreement early by providing written notice of termination to the affected Party. Other than for obligations that arose prior to termination and any payment of the Loss Event Buy-Down Amount owing by Seller pursuant to Section 7.5, if applicable, neither Party will be liable to the other Party in connection with the termination of this Agreement pursuant to this Section 8.3. Notwithstanding the forgoing, this Section 8.3 does not apply in connection with a Force Majeure Event that results in the occurrence of a Loss Event, and the rights and obligations of the Parties with respect to the buy-down or, if applicable, termination of this Agreement in connection with such Loss Event will be as set forth in Section 7.5.

Termination Due to Force Majeure Event. ‌ If a Party is prevented from performing its material obligations under this Agreement for a period of 180 consecutive days or more due to a Force Majeure Event, the unaffected Party may terminate this Agreement early by providing written notice of termination to the affected Party. Other than for obligations that arose prior to termination and any payment of the Loss Event Buy-Down Amount owing by Seller pursuant to Section 7.5, if applicable, neither Party will be liable to the other Party in connection with the termination of this Agreement pursuant to this Section 8.3. Notwithstanding the forgoing, this Section 8.3 does not apply in connection with a Force Majeure Event that results in the occurrence of a Loss Event, and the rights and obligations of the Parties with respect to the buy-down or, if applicable, termination of this Agreement in connection with such Loss Event will be as set forth in Section 7.5.