Common use of Event of Loss with Respect to a Covered Project Clause in Contracts

Event of Loss with Respect to a Covered Project. If any Covered Project is damaged or destroyed by fire, theft or other casualty, Provider will, to the extent insurance proceeds under insurance coverage obtained by the Company or the Provider are available therefor, repair, restore, replace or rebuild such Covered Project to substantially the same condition as existed immediately prior to the damage or destruction and substantially in accordance with the Customer Agreement related to such Covered Project. • If a Covered Project is required to be replaced as described above, then Provider will cause the supplier of the replacement equipment to deliver to the Company a xxxx of sale for such equipment free and clear of all Liens, and such replacement equipment will become a PV System subject to this Agreement.