Common use of Casualty; Actions by Owner and CM Clause in Contracts

Casualty; Actions by Owner and CM. During the Construction Period, if the PROJECT, or any part thereof, shall have been damaged or destroyed, in whole or in part, the CM shall promptly make proof of loss and Owner and CM shall proceed promptly to collect, or cause to be collected, all valid claims which may have arisen against insurers or others based upon such damage or destruction. The CM shall diligently assess the damages or destruction and shall prepare an estimate of the cost, expenses and other changes, including normal and ordinary compensation to the CM, necessary for reconstruction of the PROJECT substantially in accordance with the Project Plans and Specifications. Within fifteen