Act of God or Force Majeure means any fact or circumstance which prevents the affected Party from performing its obligations under this Contract if such fact or circumstance is beyond the reasonable control of such Party and does not result from its intentional conduct or fault, provided that such Party has not been able to avoid or overcome such fact or circumstance by the exercise of due diligence. Subject to satisfaction of the foregoing conditions, Act of God or Force Majeure shall include, without limitation, the following acts or events preventing the affected Party from performing its obligations under this Contract: natural phenomena such as storms, hurricanes, floods, mudslides, lightning and earthquakes; fires; acts of war (whether or not declared); civil disturbances, riots, insurrections, sabotage and terrorism; disasters in the transportation of Materials; restrictions due to quarantines, epidemics, strikes or other labor disputes not resulting from a breach of any labor agreement by the affected Party. It is expressly understood that Act of God or Force Majeure (i) shall not include economic hardship or change in market conditions (including difficulties in obtaining funds or financing) and (ii) shall not exempt the Contractor from environmental liability under the Applicable Laws.
Examples of Act of God or Force Majeure in a sentence
A dispute of the Parties shall not constitute an Act of God or Force Majeure.
The party which calls upon an Act of God or a Force Majeure Event so as to be exempted from liability shall inform the other Party on the occurrence of such event within a term no greater than ten (10) Business Days after the awareness of the occurrence of such event, by means of the delivery of a Notice of an Act of God or Force Majeure Event.
As long as the Act of God or the Force Majeure Event persists, the Party which calls upon the existence of such event shall make all commercially reasonable efforts so as to avoid or reduce, as appropriate, the damages that the Power Plant, the other Party or third parties may suffer as a consequence of the occurrence of such Act of God or Force Majeure Event.
The Buyer shall simultaneously deliver a copy of any Notice of an Act of God or Force Majeure Event, Notice of Non-Compliance, Notice of Cause for Termination or Termination Notice to the Secured Creditors’ Representative and to the Seller.
Otherwise, it shall be understood that the affected Party has waived the right to call upon such Act of God or Force Majeure Event so as to be exempted from liability under this Agreement.