Common use of Casualty, Theft, and Loss Clause in Contracts

Casualty, Theft, and Loss. 7.3.1. If a Chassis is damaged beyond repair, destroyed, or lost through casualty, theft, or causes other than defects or causes attributable to Contributor during a period when the chassis is the responsibility of a User, (CCM POOL NAME) shall deliver notice thereof to Contributor (the “Loss Notice”). If a loss occurs while the Chassis is interchanged to or on behalf of a User, (CCM POOL NAME) shall xxxx the User for the Replacement Cost as provided in the (CCM POOL NAME) Operations Manual. (CCM POOL NAME) shall pay the Replacement Cost of the Chassis to the Contributor immediately upon receipt of payment from the User, and the Chassis shall be removed from the Chassis Pool.