Common use of Termination in Consequence of Force Majeure Event Clause in Contracts

Termination in Consequence of Force Majeure Event. If a Force Majeure Event shall have occurred that has affected a Party’s performance of its obligations hereunder and that Force Majeure Event has continued for a period of three hundred sixty-five (365) consecutive days, then the non-affected Party shall be entitled to terminate this Agreement upon thirty (30) days' prior written notice to the other Party. If at the end of such thirty (30) day period such Force Majeure Event shall still continue, this Agreement shall automatically terminate. Upon such termination for a Force Majeure Event, neither Party shall have any liability to the other. By mutual agreement of the Parties, the System damaged or destroyed by a Force Majeure Event may be replaced by Owner within the time frames set forth above and subsequent to replacement and upon commencement of operation of the replacement System all terms and conditions of this Agreement will remain in effect. Notwithstanding any other provision hereunder to the contrary, following the conclusion or resolution of any Force Majeure Event, the parties agree that to the extent possible, the Term of this Agreement shall be extended as necessary to preserve the rights, obligations and economic benefits of Owner and Utility hereunder. If during a Budget Non-Appropriation Event, Utility continues to receive Energy and Environmental Attributes from Owner, then upon the conclusion of such event, Utility shall pay for such Energy and Environmental Attributes.

Appears in 7 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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Termination in Consequence of Force Majeure Event. If a Force Majeure Event shall have occurred that has affected a Party’s performance of its obligations hereunder and that Force Majeure Event has continued for a period of three hundred sixty-five (365) 365 consecutive days, then the non-affected Party shall be entitled to terminate this Agreement upon thirty (30) 30 days' prior written notice to the other Party. If at the end of such thirty (30) -day period such Force Majeure Event shall still continue, this Agreement shall automatically terminate. Upon such termination for a Force Majeure Event, neither Party shall have any liability to the other. By mutual agreement of the Parties, the System damaged or destroyed by a Force Majeure Event may be replaced by Owner within the time frames set forth above and subsequent to replacement and upon commencement of operation of the replacement System all terms and conditions of this Agreement will remain in effect. Notwithstanding any other provision hereunder to the contrary, following the conclusion or resolution of any Force Majeure Event, the parties agree that to the extent possible, the Term of this Agreement shall be extended as necessary to preserve the rights, obligations and economic benefits of Owner and Utility hereunder. If during a Budget Non-Appropriation Event, Utility continues to receive Energy and Environmental Attributes from Owner, then upon the conclusion of such event, Utility shall pay for such Energy and Environmental Attributes.

Appears in 2 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement

Termination in Consequence of Force Majeure Event. If a Force Majeure Event shall have occurred occur that has affected affects a Party’s performance of its obligations hereunder and that Force Majeure Event has continued continues for a period of three hundred sixty-five (365) consecutive days, then the non-affected Party shall be entitled to terminate this Agreement upon thirty (30) days' prior written notice to the other PartyParty and Platte River. If at the end of such thirty (30) day period such Force Majeure Event shall still continue, this Agreement shall automatically terminate. Upon such termination for a Force Majeure Event, neither Party shall have any liability to the otherother or Platte River. By mutual agreement of the Parties, the System damaged or destroyed by a Force Majeure Event may be replaced by Owner within the time frames set forth above and subsequent to replacement and upon commencement of operation of the replacement System all terms and conditions of this Agreement will remain in effect. Notwithstanding any other provision hereunder to the contrary, following the conclusion or resolution of any Force Majeure Event, the parties agree that to the extent possible, the Term of this Agreement shall be extended as necessary to preserve the rights, obligations and economic benefits of Owner and Utility Utilities hereunder. If during a Budget Non-Appropriation Event, Utility Utilities continues to receive Energy (on behalf of Platte River) and Environmental Attributes from Owner, then upon the conclusion of such event, Utility Utilities shall pay for such Energy and Environmental Attributes.

Appears in 1 contract

Samples: Power Purchase Agreement

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Termination in Consequence of Force Majeure Event. If a Force Majeure Event Event, other than a Budget Non-Appropriation Event, shall have occurred that has affected a PartyOwner’s performance of its obligations hereunder and that Force Majeure Event has continued for a period of three hundred sixty-five (365) consecutive days, then the non-affected Party Utilities shall be entitled to terminate this Agreement upon thirty (30) days' prior written notice to the other PartyOwner and Platte River. If at the end of such thirty (30) day period such Force Majeure Event shall still continue, this Agreement shall automatically terminate. Similarly, if Utilities experiences a Budget Non-Appropriation Event and the same shall continue for a period of three hundred sixty-five (365) consecutive days, then Owner shall be entitled to terminate this Agreement upon thirty (30) days’ prior notice to Utilities and Platte River. Upon such termination for a Force Majeure Event, neither Party shall have any liability to the otherother or Platte River. By mutual agreement of the Parties, the System damaged or destroyed by a Force Majeure Event may be replaced by Owner within the time frames set forth above and subsequent to replacement and upon commencement of operation of the replacement System all terms and conditions of this Agreement will remain in effect. Notwithstanding any other provision hereunder to the contraryhereunder, following the conclusion or resolution of any Force Majeure Event, the parties agree that to the extent possible, the Term of this Agreement shall be extended as necessary to preserve the rights, obligations and economic benefits of Owner and Utility Utilities hereunder. If during a Budget Non-Appropriation Event, Utility Utilities continues to receive Energy and Environmental Attributes from Owner, then upon the conclusion of such event, Utility Utilities shall pay for such Energy and Environmental Attributes.

Appears in 1 contract

Samples: Power Purchase Agreement

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