Common use of UNFORESEEABILITY Clause in Contracts

UNFORESEEABILITY. Taking into account the period of negotiations preceding the conclusion of the Contract which has enabled each of the Parties to commit in full knowledge on the terms of the Contract, the Supplier and the Purchaser, expressly waive to apply the provisions of Panamanian law relating to the unforeseeability. Each Party therefore undertakes to assume its obligations and accept to bear all risks and consequence of any change of unforeseeable circumstances arising during the performance of the Contract which have renderedits performancemoreonerousthan couldreasonablyhavebeen anticipated atthe time of the coming into force of the Contract.

UNFORESEEABILITY. Taking into account the period of negotiations preceding the conclusion of the Contract which has enabled each of the Parties to commit in full knowledge on the terms of the Contract, the Supplier and the Purchaser, expressly waive to apply the provisions of Panamanian law relating to the unforeseeability. Each Party therefore undertakes to assume its obligations and accept to bear all risks and consequence of any change of unforeseeable circumstances arising during the performance of the Contract which have renderedits performancemoreonerousthan couldreasonablyhavebeen anticipated atthe performancemoreonerousthancouldreasonablyhavebeenanticipatedatthe time of the coming into force of the Contract.