Force Majeure Event definition
Examples of Force Majeure Event in a sentence
Neither Party will be in breach of this Agreement or liable for Losses arising by reason of the occurrence of a Force Majeure Event that prevents, hinders or delays it from or in performing its obligations under this Agreement, except, in the case of the Custodian, to the extent that such Losses are attributable to its breach of its business continuity obligations under this Agreement.
Notwithstanding the above, should the event of Force Majeure last for more than ninety (90) consecutive days, the other Party shall be entitled to terminate this Agreement effective upon giving written notice to the Party affected by the Force Majeure Event.
Notwithstanding the foregoing, any reasonable time required to obtain or awaiting government administrative approvals, import/export licenses for technology, human genetic resources review or approval, or cross-border data security assessment shall not be counted toward the ninety (90) consecutive day period, and neither Party shall be entitled to terminate this Agreement unilaterally by reason of a Force Majeure Event arising from or relating to such waiting periods.