This office lease form states the tenants obligations to pay rent and perform all the covenants and agreements of the lease even when the landlord is unable to perform obligations under the lease as a result of any natural causalities.
The New Mexico Standard Force Mature Clause is a contractual provision that enables parties to suspend or terminate their obligations under an agreement in the event of unforeseen circumstances or events beyond their control. It acts as a safeguard for parties to mitigate potential risks and liabilities when these extraordinary circumstances occur. Keywords: New Mexico, Standard Force Mature Clause, contractual provision, suspend, terminate, obligations, unforeseen circumstances, events, beyond control, safeguard, mitigate risks, liabilities, extraordinary circumstances. In New Mexico, force majeure clauses are typically included in various types of contracts such as commercial agreements, leases, employment contracts, construction contracts, and purchase agreements. The purpose of these clauses is to address situations where the performance of contractual obligations becomes impossible or impracticable due to the occurrence of events that were unforeseeable and beyond the reasonable control of the parties. While the exact language and terms may vary, there are generally two types of force majeure clauses found in New Mexico contracts: 1. Broad Force Mature Clause: This clause encompasses a wide range of events or circumstances that could qualify as force majeure. It may include events such as natural disasters (e.g., earthquakes, floods, hurricanes), acts of God, wars, terrorism, pandemics, government actions (e.g., legislative changes, regulatory orders), labor strikes, and other similar events. The broad language provides flexibility to cover a diverse set of unforeseen events, ensuring the protection of contracting parties in situations beyond their control. 2. Specific Force Mature Clause: This clause explicitly lists the specific events or circumstances that the parties consider as force majeure. It may include some or all of the events mentioned in a broad force majeure clause, but with greater specificity. By defining a narrow set of events, the parties have a precise understanding of the situations that qualify as force majeure. However, it is important to ensure that the listed events are comprehensive enough to cover potential unforeseen circumstances. Regardless of the type of force majeure clause used, it is essential to carefully draft and negotiate the clause's terms. Factors to consider include the notice requirements, time frames for performance suspension or termination, alternative remedies, allocation of risks and costs, and the duty to mitigate damages. In the event that a force majeure event occurs, the party seeking to rely on the clause has the burden to demonstrate that the event satisfies the criteria outlined in the contract. This typically involves proving that the event was unforeseeable, beyond their control, and directly impacted their ability to perform the contractual obligations. It is advisable to consult with legal professionals familiar with New Mexico law when drafting or interpreting force majeure clauses to ensure compliance with applicable regulations, as well as addressing the specific needs and objectives of the parties involved.
