Common use of UNFORESEEABILITY Clause in Contracts

UNFORESEEABILITY. In the event of the occurrence of circumstances which could not have been foreseen at the time of the conclusion of the Contract and which render its performance excessively onerous for one of the parties (the "Damaged Party") who did not agree to bear the risk at the time of the conclusion of the Contract, or which unbalance the general structure of the Contract to its disadvantage, the Parties reserve the right to initiate a renegotiation procedure within forty-five (45) days of the notification of the occurrence of such unforeseeable circumstances, the parties reserve the right to initiate a renegotiation process within forty-five (45) days of notification of the occurrence of such unforeseeable circumstances in order to renegotiate the Contract in good faith. If the renegotiation of the Contract is refused or fails at the end of a period of forty-five (45) days from the notification of the occurrence of such unforeseeable circumstances, the injured party reserves the right to terminate the Contract unilaterally by giving three (3) months' notice. The aggrieved Party shall continue to perform its obligations during the renegotiation of the Contract and the notice period. The Parties expressly waive recourse to the means offered by the application of articles 1195 et seq. of the French Civil Code. »