ABSTRACT
On the Work Commencement Date, the Sponsor shall deliver to the Contractor a guarantee executed by the Sponsor’s parent guarantor in substantially a form to be agreed (the “Sponsor Parent Guarantee”). At its option, the Sponsor may substitute the Sponsor Parent Guarantee with an irrevocable standby letter of credit in a stated amount equal to <<insert currency and amount>> to support payment of the Contract Price until such time as Milestone Payment number <<insert number>> has been paid and thereafter such may be automatically reduced to a stated amount equal to <<insert currency and amount>>.180]
11.1.1 If a Party (the “Asserting Party”) is rendered wholly or partially unable to perform its obligations under this Contract as a result of a Force Majeure Excused Event, the Asserting Party shall be excused from whatever performance is affected by such Force Majeure Excused Event to the extent so affected, provided that:
(a) the Asserting Party shall <immediately> <{within a reasonable period}> notify the other party of its inability to perform as a result of such Force Majeure Excused Event, which notice shall be confirmed in writing in detail as soon as possible but in any event within <<insert number>> Days of the occurrence of such Force Majeure Excused Event and which notice shall contain reasonable proof of the nature, anticipated duration and expected impact on compliance with this Contract of such Force Majeure Excused Event;
(b) the excusal from performance shall be of no greater scope and of no longer duration than that caused by such Force Majeure Excused Event; and
(c) no obligation of the Asserting Party that arose prior to such Force Majeure Event shall be excused as a result of such Force Majeure Excused Event.
