Okla. Admin. Code § 165:40-3-11

Current through Vol. 42, No. 4, November 1, 2024

Section 165:40-3-11 - Effect of force majeure

(a) Neither party to a purchase agreement shall be deemed to be in default if failure of performance is due to force majeure, except for the duty to make timely payments when due. The party unable to perform due to force majeure has the duty to notify the other party in writing as soon as practical of the nature and period of delay and shall exercise due diligence to remove the inability to perform, except with respect to settling labor disputes.

(b) If party's failure of performance is due to removable or remediable causes which it fails to remove or remedy with reasonable dispatch, party is not relieved of liability as a result of the force majeure event.