Excused Party definition

Excused Party has the meaning ascribed to the term in Section XI.A.
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Excused Party shall have the meaning given in Section 11.1.
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Excused Party has the meaning given in section 9.9(2) of these General Conditions of Contract.
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Examples of Excused Party in a sentence

  • Notwithstanding the foregoing, or anything else in the Agreement to the contrary, in the event that, as a result of a Regulatory Event, a Party (the "Excused Party") is excused from any payment or performance obligation, the other Party shall be correspondingly excused from any payment or performance obligation that would have arisen but for the failure or inability of the Excused Party to perform.

  • Notwithstanding the foregoing, or anything else in the Agreement to the contrary, in the event that, as a result of a Regulatory Event, a Party is excused from any payment or performance obligation (the "Excused Party"), the other Party shall be correspondingly excused from any payment or performance obligation that would have arisen but for the failure or inability of the Excused Party to perform.

  • Neither Seller nor Buyer shall be liable for any delay or failure in performance hereunder if and to the extent (i) such delay or failure in performance (except for the performance of any payment obligation) is a result of Force Majeure, and (ii) the Excused Party satisfies its obligations under this Article XI.

  • Notwithstanding the foregoing, or anything else in this Agreement to the contrary, in the event that, as a result of a Regulatory Event, a Party is excused from any payment or performance obligation (the "Excused Party"), the other Party shall be correspondingly excused from any payment or performance obligation that would have arisen but for the failure or inability of the Excused Party to perform.

  • The Excused Party shall provide, from time to time as warranted, updates to the notices provided in this Section XI.D.1.

  • If either Party ("Excused Party") is excused by this clause 12 from the performance or punctual performance of any obligation for a continuous period of 60 days, the other Party may (but shall not be obliged to) at any time thereafter, and provided such performance or punctual performance is still excused, terminate this Agreement on 14 (fourteen) days written notice to the Excused Party.

  • This means that almost all economic decisions to be guided by the market forces of demand and supply which would act as an 'invisible hand'.

  • The Excused Party shall deliver to the Performing Party notice of the end of such failure caused by such Force Majeure event as a condition to the resumption of the rights and obligations of the parties hereunder.

  • If a Force Majuere event occurs under this section, the First Excused Party shall use all reasonable and diligent efforts to eliminate such impairment or interruption as soon as possible and in the interim to provide such services or obligations as may reasonably be performed until the time that either the Force Majuere event or the impairment or interruption is ended, whichever is earlier.


More Definitions of Excused Party

Excused Party shall have the meaning defined in Section 8.7.
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Excused Party has the meaning set forth in Section 6.1.
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Related to Excused Party

  • Excused Downtime means the number of minutes in the Charging Period, rounded to the nearest minute that the link state of Customer’s Port is ‘down’ due to:

  • Performing Party As defined in Section 11.12.

  • Terminated Party As defined in Section 7.01(c) of this Agreement.

  • 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.

  • Excused Outage means any disruption to or unavailability of Services caused by or due to (i) Scheduled Maintenance,

  • Force Majeure Event means an event, or a series of related events, that is outside the reasonable control of the party affected (including failures of the internet or any public telecommunications network, hacker attacks, denial of service attacks, virus or other malicious software attacks or infections, power failures, industrial disputes affecting any third party, changes to the law, disasters, explosions, fires, floods, riots, terrorist attacks and wars);

  • injured party means any person entitled to claim compensation in respect of any loss or injury caused by a vehicle;

  • Force Majeure Period has the meaning specified in Section 13.1.

  • Aggrieved person is the person or persons making the claim.

  • Non-Breaching Party has the meaning set forth in Section 9.2.1.

  • Breaching Party has the meaning set forth in Section 12.2.

  • Force Majeure Events means acts of war, domestic and/or international terrorism, civil riots or rebellions, quarantines, embargoes and other similar unusual governmental actions, extraordinary elements of nature or acts of God.

  • Interested Party means a person:

  • Aggrieved party means a party entitled to pursue a remedy.

  • Released Party means collectively, and in each case in its capacity as such:

  • Force Majeure Delay means with respect to the Servicer, any cause or event which is beyond the control and not due to the negligence of the Servicer, which delays, prevents or prohibits such Person’s delivery of the reports required to be delivered or the performance of any other duty or obligation of the Servicer under the Indenture, as the case may be, including, without limitation, computer, electrical and mechanical failures, acts of God or the elements and fire; provided, that no such cause or event shall be deemed to be a Force Majeure Delay unless the Servicer shall have given the Indenture Trustee written notice thereof as soon as practicable after the beginning of such delay.

  • Relevant Force Majeure Event means a Force Majeure Event in relation to which an Affected Party is claiming relief under this Clause 17; and

  • Terminating Party As defined in Section 7.1(f).

  • Willful and Material Breach means a material breach that is a consequence of an act undertaken by the breaching party or the failure by the breaching party to take an act it is required to take under this Agreement, with knowledge that the taking of or failure to take such act would, or would reasonably be expected to, result in, constitute or cause a breach of this Agreement.

  • Force Majeure Exception means any failure or delay in the performance of the Issuer's reporting obligation pursuant to Section 2.4 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 Issuer shall use commercially reasonable efforts to commence performance of its obligations during any of the foregoing circumstances.

  • Exculpated Party means, collectively, and in each case in its capacity as such: (a) the Debtors;

  • Indemnified Party’s Group means the Seller Group (with respect to a Seller Indemnified Party) or the Purchaser Group (with respect to a Purchaser Indemnified Party).

  • Party or “Parties” has the meaning set forth in the Preamble.

  • Innocent Party means, in relation to a breach of an obligation under this contract, the party who is not in breach of that obligation; "Insolvency Event", in relation to either of the parties, has occurred where:

  • Non-Recourse Party has the meaning set forth in Section 5.16 hereof.

  • Force Majeure Report means a report to be given by the Affected Party to the other party following the giving of a Force Majeure Notice;