Examples of Excusable Event in a sentence
In confirmation and furtherance thereof, Seller acknowledges and agrees that there shall be no adjustment in the Contract Price as a result of differing conditions at the Project Real Property than anticipated by Seller, the EPC Contractor, or any other counterparty to a Material Project Contract, or for any other reason related to risks related to the development, design, procurement and construction of the Project unless such events are an Excusable Event or a result of an Excusable Event.
After Seller’s compliance with Section 10.2, the Parties shall execute a Change Order to (a) adjust the Critical Path Project Schedule (other than the Guaranteed Project Substantial Completion Date), to account for material delays to the Critical Path Project Schedule resulting from the Excusable Event and/or (b) adjust the Contract Price to account for the material increase in the cost of the performance of the Work resulting from the Excusable Event.
Upon the occurrence of any Excusable Event, the Seller shall use Commercially Reasonable Efforts to mitigate the effects of the Excusable Event, resume normal performance of this Agreement within the shortest time practicable and continue to perform its obligations under this Agreement insofar as they are not affected by the Excusable Event.
The protections afforded under this Article 10 to Seller shall be of no greater scope and no longer duration, than is required by the Excusable Event.
Subject to the terms of this Article 10, Seller shall not be in default or in breach of its obligations under this Agreement or otherwise be liable to Purchaser for any delay or failure in the performance of any of its obligations under this Agreement if and to the extent such delay or failure is a result of an Excusable Event arising after the Signing Date.