MUTUAL RELEASE AND WAIVER OF SUBROGATION. Landlord and Tenant hereby mutually release each other from liability, and waive all right of recovery against each other, for any injury, loss or damage to any building, structure, inventory or other tangible property and any revenues, profit and rents to be generated therefrom, whether due to negligence or any other insured cause, if such injury, loss or damage is caused by any of the perils which are covered by a first-party insurance policy benefiting the party suffering such injury, loss or damage, or if such injury, loss or damage was required to be covered by insurance pursuant to this Lease; provided that this Section shall be inapplicable if it would have the effect, but only to the extent it would have the effect, of invalidating any insurance coverage of Landlord or Tenant. This Waiver only applies to insured property losses and does not limit the ability to recover for deductibles or other uninsured losses. Landlord and Tenant acknowledge that their current insurance policies, as of the date of this Lease, will not be invalidated. In the future, if avoiding any invalidation can be effected by the payment of money to such insurer, the other party may elect to pay such amount to obtain such waiver of subrogation for its benefit. Landlord and Tenant, respectively, shall promptly notify the other if its insurance will be invalidated by the foregoing release and waiver or if any payment is required to avoid such invalidation. Notwithstanding anything to the contrary, this Section shall not apply to any claim by Landlord for any Rent, Additional Rent or Other Charges payable under this Lease. Landlord and Tenant specifically intend, however, that this Section shall apply to any potential claim that could otherwise be made by Landlord for any rents to be paid by other occupants of Bellevue Place or any claim that could potentially be made by Tenant for any lost sales, profits or revenues that could have been generated from or operating expenses related to the Leased Premises or elsewhere.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Landlord and Tenant each hereby waives, and releases the other from any claim or liability for damage to such party's property occurring during the Term which is covered by insurance. Each party shall cause the property hazard insurance carried by it, with respect to the Project, the Premises or such party's other property located therein, to be endorsed, if necessary, to prevent any invalidation of such insurance by reason of the waivers and releases contained in this Section, provided such endorsement can be obtained at no cost. If additional costs are involved, the party carrying such insurance shall give the other party the opportunity to apply for such endorsement.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Landlord and Tenant hereby waive on behalf of themselves and their respective insurers, any claims that either actually may have against the other for loss or damage to their respective property resulting from perils covered by the standard form of all risk property damage insurance, including vandalism and malicious mischief coverage. It is understood that this waiver is intended to extend to all such loss or damage whether or not the same is caused by the fault or neglect of either Landlord or Tenant and whether or not insurance is in force. If required by policy conditions, each party shall secure from its property insurer a waiver of subrogation endorsement to its policy, and deliver a copy of such endorsement to the other party to this Lease if requested.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Notwithstanding any provision of this Sublease or the Lease to the contrary, Sublandlord and Subtenant each hereby waives any and all rights of recovery, claim, action or cause of action, against the other and against Landlord, their agents (including partners, both general and limited), officers, directors, shareholders or employees, for any loss or damage that may occur to the Subleased Premises, or any improvements thereto, or the Building, or any improvements thereto, or any property of such party therein, by reason of fire, the elements, or any other cause which could be insured against under the terms of standard fire and extended coverage insurance policies, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees, provided that Subtenant will not be released to the extent that Sublandlord is not released from liability under the Lease, and each covenants that its insurers will hold no right of subrogation against such other party.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Notwithstanding any provision of this Sublease to the contrary, all parties hereby waive any and all rights of recovery, claim, action or cause of action, against the others and against Landlord, their agents (including partners, both general and limited), officers, directors, shareholders or employees, for any loss or damage that may occur to the Subleased Premises, or any improvements thereto, or the building of which the Subleased Premises are a part, or any improvements thereto, or any property of such party herein, by reason of fire, the elements, or any other cause which could be insured against under the terms of standard fire and extended coverage insurance policies, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees, and each covenants that its insurers shall hold no right of subrogation against any other party.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Notwithstanding any indemnity granted herein, except for and with respect to any loss or damage caused by or resulting from Landlord's failure or refusal to fully and promptly perform its repair and maintenance obligations under Section 9.01 of this Lease or from any other default by Landlord of any of its obligations hereunder, Landlord and Tenant hereby both release the other and their respective employees, agents and invitees from and waive any claims either may have against the other and their employees, agents, servants or invitees for any loss or damage to the Leased Premises, Improvements or the contents of the foregoing, and any personal property stored or placed thereon by either of them, caused by any of the perils insurable against under fire and extended coverage insurance policies with "all risks" endorsement, whether such damage or loss was caused by the negligence of either of them or their respective employees, agents, servants or invitees. The foregoing mutual release and waiver of subrogation shall apply whether or not such insurance on the Leased Premises, Improvements, contents, and/or personal property was in force at the time of the loss of damage. Moreover, each party agrees to take all actions necessary to make the foregoing release effective and binding upon their respective insurance carriers so that such carriers specifically waive any right of subrogation that such carriers might otherwise have against the other party and/or their respective employees, agents, servants or invitees, and each of Landlord and Tenant shall deliver to the other a certificate of insurance stating that all of its hazard and liability insurance policies (including Landlord's "all risk" builder's risk insurance) covering or relating to the Premises include such a waiver of subrogation clause.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Landlord and Tenant hereby ---------------------------------------- release each other and anyone claiming through or under the other by way of subrogation or otherwise from any and all liability for any loss of or damage to property, whether caused by the negligence or fault of the other party to the extent of the property insurance required to be carried by the waiving party hereunder. In addition, Landlord and Tenant shall cause each insurance policy carried by them insuring any of the improvements on the Land or the contents thereof, to be written to provide that the insurer waives all rights of recovery by way of subrogation against the other party hereto (and any mortgagee of such party) in connection with any loss or damage covered by the policy. If no responsible and qualified insurer will provide a waiver of subrogation without extra charge or premium, then the insuring party shall inform the other party that such additional charge or premium is required and said other party may elect to (a) pay such extra charge or premium or (b) waive the requirement for the waiver of subrogation (in which case the waivers of claim set forth herein shall be ineffective to the extent that same would void, invalidate or otherwise vitiate any insurance coverage). In case such waiver cannot be obtained, even at an additional cost, then item (b) in the immediately preceding sentence shall become effective. Any liability insurance coverage carried by either party hereto shall name the other party and, upon request, any lender of such other party as additional insured thereunder and each party hereby waives claims arising from the other party's negligence to the extent of such insurance coverage.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. If either party hereto is paid any proceeds under any policy of insurance naming such party as an insured, on account of any loss or damage, then such party hereby releases the other party hereto, to and only to the extent of the amount of such proceeds, from any and all liability for such loss or damage, notwithstanding that such loss, damage or liability may arise out of the negligent or intentionally tortious act or omission of the other party, its agents or employees; provided, that such release shall be effective only as to a loss or damage occurring while the appropriate policy of insurance of the releasing party provides that such release shall not impair the effectiveness of such policy or the insured’s ability to recover thereunder. Each party hereto shall use reasonable efforts to have a clause to such effect included in its said policies of insurance, and shall promptly notify the other in writing if such clause cannot be included in any such policy.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Owner and Developer for themselves and to the extent legally possible for them to do so, on behalf of their insurers, hereby waive and release each other from any liability for any loss or damage to the other, or loss of their property located upon the Project, which loss or damage is of the type covered by the insurance required to be maintained by it hereunder, irrespective of any negligence on the part of Owner or Developer which may have contributed to or caused such loss. Developer shall obtain for the benefit of Owner a waiver of any right of subrogation which the insurer of such insured parties may acquire against Owner by virtue of the payment of any such loss covered by such insurance. In the event that Developer is by law, statute or governmental regulation unable to obtain a waiver of the right of subrogation for the benefit of Owner, then, during any period of time when such waiver is unattainable, Developer shall be deemed not to have released any subrogated claim of its insurance carrier against Owner, and during the same period of time Developer shall be deemed not to have released the insured party who has been unable to obtain such waiver from any claims they or their insurance carriers may assert which otherwise would have been released pursuant to this Section. In the event that Developer is unable to obtain such waiver of the right of subrogation for the benefit of Owner, Developer shall, within thirty (30) days of receiving notice of such inability, give Owner written notice of such inability. To the extent commercially reasonable to do so, the parties will endeavor to use the insurance coverages provided herein to the maximum extent such coverages are applicable for any damage or loss.
MUTUAL RELEASE AND WAIVER OF SUBROGATION. Anything in this Lease to the contrary notwithstanding, each party hereby releases the other party from any liability, right of recovery, claim, action or cause of action the other party may have on account of loss, cost, damage or expense which arises from any peril (a) that is or would be covered by any policy of property insurance required to be carried by the releasing party under this Lease (regardless of whether such insurance is actually being carried); or (b) that is covered by any other property insurance actually being carried by the releasing party at the time of such accident or occurrence, regardless of the negligence of the party being released or its agents, contractors, officers or employees, and waives any right of subrogation which might otherwise exist in or accrue to any person on account thereof, including that of the insurance carriers of the other party. Landlord and Tenant shall give their respective insurance carriers written notice of the terms of the above mutual waivers and the parties’ respective insurance policies shall be properly endorsed, if necessary, to prevent the invalidation of said policies by reason of such waivers.
