Force Majeure Exception definition

Force Majeure Exception means any failure or delay in the performance of the Fund’s reporting obligation pursuant to Section 2.3 arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; acts of civil or military authority and governmental action. The Fund shall use commercially reasonable efforts to commence performance of its obligations during any of the foregoing circumstances.

Examples of Force Majeure Exception in a sentence

  • The Force Majeure Exception Clause of ICC Publication No 421 is hereby incorporated in, and made an integral part of, this Agreement.

  • The Force Majeure Exception Clause Of The International Chamber Of Commerce ( I.C.C. Publication #421 ) And Non-Circunvention And Non-Elusion & Working Agreement, Is Hereby Incorporated In And Made An Integral Part Of This Document.

  • FORCE MAJEUREThe Force Majeure Exception Clause of ICC Publication No 421 is hereby incorporated in, and made an integral part of, this Agreement.

Related to Force Majeure Exception

  • Force Majeure means an event beyond the control of the supplier and not involving the supplier’s fault or negligence and not foreseeable. Such events may include, but is not restricted to, acts of the purchaser in its sovereign capacity, wars or revolutions, fires, floods, epidemics, quarantine restrictions and freight embargoes.

  • Force Majeure Event means and shall be limited to: (a) riot, war, invasion, act of foreign enemies, hostilities (whether war is declared or not), acts of terrorism, civil war, rebellion, blockades by local communities, revolution, insurrection of military or usurped power; (b) earthquake, flood, fire, explosion and/or other natural physical disaster, but excluding weather conditions as such, regardless of severity; (c) strikes at a national or regional level or industrial disputes at a national or regional level, or strikes or industrial disputes by labour not employed by the affected party, its subcontractors (of any tier) or its suppliers and which affect a substantial or essential portion of the Work; and (d) any local or other governmental authority action or inaction affecting any licences, permits, temporary permits, authorisations or approvals required by Company for its operations, but in each case only to the extent such events are: (i) not within the control of the party in question; (ii) unavoidable notwithstanding the reasonable care of, or the taking of reasonable steps by the party affected; and (iii) are not the result of any failure of the affected party to carry out any of its obligations under the Contract or any negligence of such party or, where Contractor is the affected party, of any Subcontractors. Following notification of a Force Majeure Event in accordance with this Clause 20, the parties shall meet at appropriate intervals to agree on a mutually acceptable course of action to minimise the impact and effects of such Force Majeure Event on the parties. Upon cessation of a Force Majeure Event, the affected party shall forthwith resume full performance of its obligations under the Contract, taking into account Company’s operational requirements. Company shall have the right to terminate all or any part of the Work or the Contract at any time by notice to Contractor in the event any Force Majeure Event continues, or it is obvious that it will continue, for more than seven (7) days, provided that Contractor shall not be entitled to any payment in connection with any such termination.

  • Affected Party has the meaning specified in Section 5(b).