Common use of Casualty Occurrence Clause in Contracts

Casualty Occurrence. Notwithstanding any request by the Lessee for a determination of fair market sales value pursuant to this Section 19, the provisions of Section 13 shall continue in full force and effect until the date of purchase and the passage of ownership of the Facility unless the Lessee shall have exercised the option by irrevocable written notice to purchase pursuant to Section 19(b), in which event the amount of "CASUALTY VALUE" shall equal the greater of (i) the option purchase price and (ii) the Casualty Value which would have applied but for the exercise of such purchase option.