Template:Nutshell 2002 ISDA 5(b)(ii)

5(b)(ii) Force Majeure Event. By reason of force majeure occurring after a Transaction is entered into, on any day:―

(1) the Office through which the Affected Party performs the Transaction cannot perform any obligation, or it becomes impossible or impracticable to do so; or

(2) the Affected Party or its Credit Support Provider cannot perform any obligation to under any Transaction, or it becomes impossible or impracticable to do so;

if the force majeure is outside the Affected Party’s control and it could not, after using all reasonable efforts (not obliging it to incur a loss, other than incidental expenses), overcome the necessary prevention;