Common use of Partial Casualties Clause in Contracts

Partial Casualties. If the Facility or any part thereof shall suffer any destruction, damage, loss or theft not constituting an Event of Loss, the Facility Lessee shall rebuild or make such repairs as are necessary (i) to restore the Facility to the current value, residual value, utility and remaining useful life it had immediately prior to such destruction, damage, loss or theft (assuming, for the purposes of determining the current value, residual value, utility and remaining useful life of the Facility, that no Severable Improvements that are not Required Improvements shall have been made to the Facility during the Facility Lease Term) and (ii) to ensure that the Facility is maintained in accordance with Sections 7 and 8 hereof and that the Facility does ---------- ----- not become "limited use" property within the meaning of Rev. Proc. 75-28, 1975-1 C.B. 752 or Rev. Proc. 76-30, 1976-2 C.B. 647.