This office lease form states that if performance by either party of any service or obligation under this agreement is prevented or delayed due to certain severe, circumstances, that party shall be excused from the performance to the extent of the prevention, restriction, delay or interference and the other party shall be responsible for performing all of its obligations.
In legal terms, a Force Mature clause and Restricted Performance refer to specific provisions in contracts that address unforeseen events or circumstances that may hinder or prevent parties from fulfilling their obligations. In the context of New Mexico, these provisions hold particular significance due to the state's unique characteristics and potential risks. Force Mature in New Mexico: The Force Mature concept recognizes that certain events or conditions are beyond the control of contracting parties, making it impossible or significantly difficult to fulfill obligations. In New Mexico, Force Mature covers a range of natural, social, or human-made events that may include but are not limited to: 1. Natural Disasters: The occurrence of seismic activities, floods, wildfires, hurricanes, or other extreme weather conditions that may disrupt contractual performance. 2. Government Actions: Actions taken by governmental authorities, which may include legislative changes, executive orders, or regulatory interference resulting in the inability to perform contractual obligations. 3. Epidemics and Pandemics: Disease outbreaks or health emergencies declared by government agencies, such as the COVID-19 pandemic, which may restrict movement, require quarantines, or impact business operations. 4. Acts of Terrorism or War: The occurrence of armed conflicts, terrorism, civil unrest, or other acts of war, which may affect contractual performance due to safety concerns, infrastructure damage, or travel restrictions. 5. Labor Disputes: Strikes, lockouts, or labor disputes that prevent parties from performing their contractual obligations. 6. Material Shortages: Scarcity or unavailability of critical materials, components, or resources necessary to fulfill contractual commitments. Restricted Performance in New Mexico: Restricted Performance refers to situations where a party's ability to perform its obligations under a contract is limited by external factors, even when a Force Mature event has not occurred. In New Mexico, the following instances may give rise to Restricted Performance: 1. Regulatory Requirements: When the performance of contractual obligations is restricted or significantly impeded due to compliance with legal or regulatory requirements imposed by federal, state, or local authorities. 2. Failures by Third Parties: When the actions or failures of third parties, such as suppliers, subcontractors, or service providers, prevent the full and timely performance of contractual obligations. 3. Change in Economic Circumstances: When unforeseen economic downturns, recession, currency fluctuations, or financial crises occur, impacting a party's ability to fulfill contractual commitments. 4. Unforeseen Technological Issues: The occurrence of unexpected technological failures or glitches that hinder the fulfillment of contractual obligations, such as system outages, data breaches, or cyberattacks. These provisions aim to protect parties from liability when circumstances are beyond their control, but their applicability depends on the specific language and terms outlined in the contract. It is crucial for parties to carefully review and negotiate Force Mature and Restricted Performance clauses to ensure they accurately reflect the risks associated with doing business in New Mexico.In legal terms, a Force Mature clause and Restricted Performance refer to specific provisions in contracts that address unforeseen events or circumstances that may hinder or prevent parties from fulfilling their obligations. In the context of New Mexico, these provisions hold particular significance due to the state's unique characteristics and potential risks. Force Mature in New Mexico: The Force Mature concept recognizes that certain events or conditions are beyond the control of contracting parties, making it impossible or significantly difficult to fulfill obligations. In New Mexico, Force Mature covers a range of natural, social, or human-made events that may include but are not limited to: 1. Natural Disasters: The occurrence of seismic activities, floods, wildfires, hurricanes, or other extreme weather conditions that may disrupt contractual performance. 2. Government Actions: Actions taken by governmental authorities, which may include legislative changes, executive orders, or regulatory interference resulting in the inability to perform contractual obligations. 3. Epidemics and Pandemics: Disease outbreaks or health emergencies declared by government agencies, such as the COVID-19 pandemic, which may restrict movement, require quarantines, or impact business operations. 4. Acts of Terrorism or War: The occurrence of armed conflicts, terrorism, civil unrest, or other acts of war, which may affect contractual performance due to safety concerns, infrastructure damage, or travel restrictions. 5. Labor Disputes: Strikes, lockouts, or labor disputes that prevent parties from performing their contractual obligations. 6. Material Shortages: Scarcity or unavailability of critical materials, components, or resources necessary to fulfill contractual commitments. Restricted Performance in New Mexico: Restricted Performance refers to situations where a party's ability to perform its obligations under a contract is limited by external factors, even when a Force Mature event has not occurred. In New Mexico, the following instances may give rise to Restricted Performance: 1. Regulatory Requirements: When the performance of contractual obligations is restricted or significantly impeded due to compliance with legal or regulatory requirements imposed by federal, state, or local authorities. 2. Failures by Third Parties: When the actions or failures of third parties, such as suppliers, subcontractors, or service providers, prevent the full and timely performance of contractual obligations. 3. Change in Economic Circumstances: When unforeseen economic downturns, recession, currency fluctuations, or financial crises occur, impacting a party's ability to fulfill contractual commitments. 4. Unforeseen Technological Issues: The occurrence of unexpected technological failures or glitches that hinder the fulfillment of contractual obligations, such as system outages, data breaches, or cyberattacks. These provisions aim to protect parties from liability when circumstances are beyond their control, but their applicability depends on the specific language and terms outlined in the contract. It is crucial for parties to carefully review and negotiate Force Mature and Restricted Performance clauses to ensure they accurately reflect the risks associated with doing business in New Mexico.
