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Template:EFET Allowance Annex 7.3: Difference between revisions
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Template:EFET Allowance Annex 7.3 (view source)
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§ 7.3 '''{{efetaprov|Notification and Mitigation of Force Majeure}}'''. The first Party learning of the occurrence of an event of {{efetaprov|Force Majeure}} shall, as soon as practicable, notify the other Party of the commencement of {{efetaprov|Force Majeure}}. Each Party shall then undertake in good faith to determine, and notify the other Party with, to the extent then available, a non-binding estimate of the extent and expected duration of the {{efetaprov|Force Majeure}} event and its impact on performance of all {{efetaprov|Allowance Transaction}}(s) affected by the event of {{efetaprov|Force Majeure}}. The {{efetaprov|Affected Party}} shall use all commercially reasonable efforts to mitigate the effects of {{efetaprov|Force Majeure}} and shall, during the continuation of {{efetaprov|Force Majeure}}, provide the other Party with reasonable updates, when and if available, of the extent and expected duration of its inability to perform. <br> | § {{efetaprov|7.3}} '''{{efetaprov|Notification and Mitigation of Force Majeure}}'''. The first Party learning of the occurrence of an event of {{efetaprov|Force Majeure}} shall, as soon as practicable, notify the other Party of the commencement of {{efetaprov|Force Majeure}}. Each Party shall then undertake in good faith to determine, and notify the other Party with, to the extent then available, a non-binding estimate of the extent and expected duration of the {{efetaprov|Force Majeure}} event and its impact on performance of all {{efetaprov|Allowance Transaction}}(s) affected by the event of {{efetaprov|Force Majeure}}. The {{efetaprov|Affected Party}} shall use all commercially reasonable efforts to mitigate the effects of {{efetaprov|Force Majeure}} and shall, during the continuation of {{efetaprov|Force Majeure}}, provide the other Party with reasonable updates, when and if available, of the extent and expected duration of its inability to perform. <br> | ||