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.
Standard Force Majeure Clause
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Multi-State
Control #:
US-OL1102A2A
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Word;
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FAQ
For the purpose of this Agreement, an Event of Force Majeure means any circumstance not within the reasonable control of the Party affected, but only if and to the extent that (i) such circumstance, despite the exercise of reasonable diligence and the observance of Good Utility Practice, cannot be, or be caused to be
A force majeure clause (1) specifies the events which enable either party to declare a force majeure/act of God event, (2) how a party should notify its counterparty about the occurrence, and (3) the consequences after a force majeure event has occurred.
An example of an operative clause is: " . 1 Neither party is responsible for any failure to perform its obligations under this contract, if it is prevented or delayed in performing those obligations by an event of force majeure. .
What is Force Majeure?Examples of events that might trigger a force majeure clause into effect include a declaration of war, a disease epidemic, or a hurricane, earthquake, or other natural disaster events that fall under the legal term, act of God.
1, The company declared force majeure on its shipping commitments. 2, Damage is caused due to force majeure. 4, Any party to natural disasters and other force majeure causes of delay in performance of duty, incomplete or non-performance should not be treated as breach of contract.
Under most national laws, force majeure events must meet four criteria: (1) the event must be external to the contract and the parties; (2) the event must render the party0393CA–s performance radically different from what the parties originally contemplated; (3) the event must have been unforeseeable; and (4) the
