Common use of Release and Waiver of Subrogation Clause in Contracts

Release and Waiver of Subrogation. Landlord and Tenant hereby waive and release each other of and from any and all rights of recovery, claim, action or cause of action against each other, their agents, officers, directors, partners and employees, for any loss or damage that may occur to the Premises, or personal property, including building contents, within the Premises, by reason of fire or the elements of nature or other events to the extent recoverable under the extended all risk property damage insurance coverage, maintained by the party suffering such loss regardless of cause or origin INCLUDING NEGLIGENCE OF LANDLORD OR TENANT AND THEIR AGENTS, OFFICERS, DIRECTORS, PARTNERS AND EMPLOYEES. All insurance policies maintained by the parties in connection with this Lease shall contain a waiver of subrogation consistent with the provisions of this Article 15.