Common use of Waiver of Claims and Subrogation Clause in Contracts

Waiver of Claims and Subrogation. Notwithstanding anything in this Lease to the contrary, Lessor and Lessee each hereby waives any and all rights of recovery, claim, action or cause of action, against the other, its agents (including Lessors property manager), officers and employees, for any loss or damage that may occur to the Premises, or any improvements thereto, or the Building, or any improvements thereto, or any personal property of such party in the Premises or the Building, or on the grounds of the Property, by reason of fire, the elements, or any other cause which is or was required to have been insured against under the terms of Sections 31 and 32 hereof, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees (but excluding willful acts of misconduct), and each covenants that no insurer of any such loss shall hold any right of subrogation against such other party. In respect to Lessors waiver, such waiver shall be effective only to the extent of insurance proceeds received or receivable pursuant to any such policy. To the extent of any excess loss or any deductible amount, recovery against Lessee is not hereby waived and released. Lessee also waives, releases and relinquishes any and all recoveries, claims, actions, causes of action or rights of recovery against Lessor, its property manager, and their respective agents, employees, officers and affiliates, for any loss or damage to Lessees business (including loss of profit or revenue) arising from casualty events to the Premises or any property of Lessee on the Property to the extent of the required coverage of Lessees business interruption insurance, whether or not arising from the negligence of Lessor or such other released parties, and Lessee further covenants and warrants to Lessor that no insurance company issuing Lessee a policy of business interruption insurance shall have any rights of subrogation against Lessor by reason of any payment of any such claim made thereon by Lessee.

Waiver of Claims and Subrogation. Notwithstanding anything in this Lease to the contrary, Lessor and Lessee each hereby waives waive any and all rights of recovery, claim, action or cause of action, against the other, other party and its agents (including Lessors Lessor’s property manager), officers officers, partners and employees, for any loss or damage that may occur to the Premises, or any improvements thereto, or the Building, or any improvements thereto, or any personal property of such party in the Premises or the Building, or on the grounds of the Property, by reason of fire, the elements, or any other cause which is caused by or results from a risk which is insured against or was required to have been insured against under the terms of Sections 31 and 32 hereofSection 15 hereof (to the required limits stated therein) or which would normally be covered by “special form” property insurance, regardless of cause or origin, including negligence of the other party hereto, its agents, officers officers, partners or employees (but excluding willful acts of misconduct), and each covenants that no party shall cause such insurance policies to contain provisions or endorsements wherein such insurer of any such loss shall hold any waives its right of subrogation recovery against such other partyparties. In respect to Lessors waiverAll of Lessor’s and Lessee’s repair, such waiver restoration and indemnity LESSOR’S INITIALS: LESSOR’S INITIALS: obligations under this Lease shall be effective only subject to the extent of insurance proceeds received or receivable pursuant to any such policy. To the extent of any excess loss or any deductible amount, recovery against Lessee is not hereby waived and releasedforegoing waiver. Lessee also waives, releases and relinquishes any and all recoveries, claims, actions, causes of action or rights of recovery against Lessor, its property manager, and their respective agents, employees, officers officers, partners and affiliates, for any loss or damage to Lessees Lessee’s business (including loss of profit or revenue) arising from casualty events to the Premises or any property of Lessee on the Property to the extent of the required coverage of Lessees such loss could have been covered by a business interruption insuranceinsurance policy covering full loss of Lessee’s business from any casualty event for a period of twelve months, whether or not arising from the negligence of Lessor or such other released parties, and Lessee further covenants and warrants to Lessor that no insurance company issuing Lessee a policy of business interruption insurance shall have any rights of subrogation against Lessor by reason of any payment of any such claim made thereon by Lessee.

Waiver of Claims and Subrogation. Notwithstanding anything in this Lease to the contrary, Lessor and Lessee each LESSEE hereby waives releases LESSOR -------------------------------- from any and all rights of recovery, claim, action liability or cause of action, against the other, its agents (including Lessors property manager), officers and employees, for any loss responsibility to LESSEE or damage that may occur to the Premises, anyone claiming through or any improvements thereto, or the Building, or any improvements thereto, or any personal property of such party in the Premises or the Building, or on the grounds of the Property, under it by reason of fire, the elements, or any other cause which is or was required to have been insured against under the terms of Sections 31 and 32 hereof, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees (but excluding willful acts of misconduct), and each covenants that no insurer of any such loss shall hold any right way of subrogation against such other party. In respect to Lessors waiver, such waiver shall be effective only to the extent of insurance proceeds received or receivable pursuant to any such policy. To the extent of any excess loss or any deductible amount, recovery against Lessee is not hereby waived and released. Lessee also waives, releases and relinquishes any and all recoveries, claims, actions, causes of action or rights of recovery against Lessor, its property manager, and their respective agents, employees, officers and affiliates, otherwise for any loss or damage to Lessees business (including loss of profit the Building and Premises, or revenue) arising from casualty events to the contents of or personal property located in the Building or Premises caused by fire, theft, water or any property of Lessee on the Property to the extent of the required coverage of Lessees business interruption insuranceother casualty, whether or not arising from said loss or damage may have been the result of the negligence of Lessor LESSOR, its agents or employees, other lessees or persons or the result of any other cause. LESSEE agrees to obtain whatever personal property or contents insurance is sufficient or appropriate to protect its property against all of the foregoing losses or damage, including but not limited to fire insurance, with extended coverage, vandalism and malicious mischief, theft and mysterious disappearance endorsements and water and sprinkler damage insurance, LESSEE shall deposit with LESSOR the appropriate policy or certificate evidencing the existence of such other released partiesinsurance, LESSEE agrees to have any and Lessee further covenants all such insurance coverage or any and warrants to Lessor that no all material damage insurance company issuing Lessee a policy of business interruption which may be carried endorsed with the following subrogation clause: "This insurance shall have not be invalidated should the insured waive in writing prior to a loss any rights or all right of recovery against any party for loss occurring to the property described herein." LESSOR hereby releases LESSEE from any and all liability or responsibility to LESSOR or anyone claiming through or under it by way of subrogation against Lessor or otherwise for any loss or damage to the building and premises or to the contents of or personal property located in the building and premises caused by reason fire, theft, water or any other casualty whether or not said loss or damage may have been the result of negligence of LESSEE, its agents, or employees, other Lessees or persons or the result of any payment other cause LESSOR shall obtain the same endorsement as provided above. The foregoing release of liability and waiver of the right of subrogation shall not be operative in any such claim made thereon by Lesseecase where the effect is to invalidate insurance coverage.

Waiver of Claims and Subrogation. Notwithstanding anything Anything in this Lease to the contrarycontrary notwithstanding, Lessor Landlord and Lessee Tenant each hereby waives any and all rights of recovery, claim, action or cause of cause-of-action, against the other, its agents (including Lessors property managerpartners, both general and limited), officers and employeesofficers, directors or representatives, for any loss or damage that may occur to the Premises, or any improvements theretoImprovements therein, or the BuildingBuilding of which the Premises are a part, or any improvements theretoImprovements therein, or any personal property of such party in the Premises or the Building, or on the grounds of the Propertytherein, by reason of fire, the elements, elements or any other cause which is are, or was are required by this Lease to have been be, insured against under the terms a policy(ies) containing a waiver of Sections 31 and 32 hereof, regardless of cause subrogation or originpermission to release liability, including the amount of any insurance deductible, notwithstanding the negligence of Landlord or any Landlord Party or Tenant or any Tenant Party (as applicable). If either party fails to carry the insurance or its insurance carrier denies coverage or becomes insolvent, the release and waiver set forth hereinabove shall nonetheless remain in full force and effect if the damage is of the type that would be covered by typical insurance covered by landlords and tenants of Comparable Buildings. Each of Landlord and Tenant shall have the policies required under this Lease endorsed with a waiver of subrogation clause whereby the insurance provider’s right of subrogation is waived with respect to the other party hereto, its agentsor, officers or employees (but excluding willful acts of misconduct), and each covenants that no insurer of any such loss shall hold any right of subrogation against such other party. In respect to Lessors waiver, if such waiver should be unobtainable or unenforceable, (a) an express agreement that such policy shall not be effective only to invalidated if the extent of insurance proceeds received or receivable pursuant to any such policy. To insured waives the extent of any excess loss or any deductible amount, recovery against Lessee is not hereby waived and released. Lessee also waives, releases and relinquishes any and all recoveries, claims, actions, causes of action or rights right of recovery against Lessor, its property manager, and their respective agents, employees, officers and affiliates, any party responsible for a casualty covered by the policy before the casualty or (b) any loss or damage to Lessees business (including loss other form of profit or revenue) arising from casualty events to permission for the Premises or any property of Lessee on the Property to the extent release of the required coverage of Lessees business interruption insurance, whether or not arising from the negligence of Lessor or such other released parties, and Lessee further covenants and warrants to Lessor that no insurance company issuing Lessee a policy of business interruption insurance shall have any rights of subrogation against Lessor by reason of any payment of any such claim made thereon by Lesseeparty.