Common use of Waiver of Claims and Subrogation Clause in Contracts

Waiver of Claims and Subrogation. Notwithstanding that any loss or damage may be due to or result from the negligence of either of the parties hereto, Landlord and Tenant, for themselves and their respective insurers, each waive any and all rights to recover against the other, against any subsidiary or joint venture of such other party or against any other occupant of the Project, or against the officers, directors, shareholders, partners, joint ventures, employees, agents, customers, invitees, or business visitors of such other party or of such other tenant or occupant of the Project, for any loss or damage to the property of such waiving party arising from any cause, if and to the extent that such damage is covered by the waiving party’s property insurance, or would have been so covered if the waiving party had carried the property insurance that it is required to carry under this Article 6.