This office lease form states that this lease and the obligations of the parties to perform their obligations under this lease shall be suspended and excused in the event that party is prevented or delayed in performing its obligations due to a natural calamity. Nothing under this provision shall require the tenant to waive its rights to cancel this lease under constructive or actual constructive eviction or by law.
New Mexico Fairer Force Mature Clause refers to a specific provision within a contract that addresses unforeseen and uncontrollable circumstances affecting the performance of obligations. In essence, it is a legal safeguard that protects parties from being held liable for non-performance or delay of contractual obligations due to extraordinary events that are beyond their reasonable control. These events are typically referred to as force majeure events or acts of God. The New Mexico Fairer Force Mature Clause aims to ensure fairness and equity in the application of this provision, providing a balanced approach for both parties involved in a contract. It sets out the conditions that must be met for the force majeure clause to be invoked and the resulting rights and obligations of the contracting parties. Keywords that can be associated with the New Mexico Fairer Force Mature Clause include: 1. Force Mature Events: These are events that are usually listed in the contract that may trigger the clause. Common examples include natural disasters (such as earthquakes, floods, hurricanes), wars, strikes, pandemics, government actions, and acts of terrorism. 2. Unforeseen Circumstances: The clause covers events that are not reasonably foreseeable at the time of contract formation. This includes situations where fulfillment becomes impossible. 3. Reasonable Control: The force majeure clause may specify that the event must be outside the reasonable control of the affected party, meaning it couldn't have been prevented through reasonable care, alternative measures, or additional expenditures. 4. Notice and Mitigation: The clause may require affected parties to provide prompt notice to the counterparty about the occurrence of a force majeure event and take reasonable steps to minimize the impact or mitigate damages. Different types of New Mexico Fairer Force Mature Clauses may exist, including those tailored to specific industries or contracts: 1. Construction Contracts: These clauses often include specific force majeure events common in the construction industry, such as labor strikes, changes in government regulations, or material shortages. 2. Energy Contracts: Force majeure clauses in energy contracts, especially those related to oil and gas, may include events like facility shutdowns, pipeline disruptions, or political instability affecting supply chains. 3. Lease Agreements: Leases often have force majeure clauses to address situations where tenants or landlords are unable to fulfill their obligations due to events like fires, natural disasters, or government-imposed restrictions. Overall, the New Mexico Fairer Force Mature Clause acts as an essential safeguard for contracting parties, enabling them to respond to unforeseen circumstances while maintaining fairness and equity. It provides a mechanism for parties to navigate exceptional events that may impact the performance of their contractual obligations, minimizing disputes and ensuring a balanced approach to managing risk.
