Common use of Mutual Waiver of Subrogation Rights Clause in Contracts

Mutual Waiver of Subrogation Rights. Whenever (1) any loss, cost, damage, or expense resulting from fire, explosion, or any other casualty or occurrence is incurred by either of the parties to this Lease Agreement in connection with the Demised Premises and (2) such party is then covered in whole or in part by insurance with respect to such loss, cost, damage, or expense, then the party so insured hereby releases the other party from any liability it may have on account of such loss, cost, damage, or expense to the extent of any amount recovered by reason of such insurance and waives any right of subrogation that might otherwise exist in or accrue to any person on account thereof, provided that such release of liability and waiver of the right of subrogation shall not be operative in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof (provided that in the case of increased cost the other party shall have the right, within twenty days following written notice, to pay such increased cost, thereupon keeping such release and waiver in full force and effect).

Mutual Waiver of Subrogation Rights. Whenever (1a) any loss, cost, damage, damage or expense resulting from fire, explosion, explosion or any other casualty or occurrence is incurred by either of the parties to this Lease Agreement in connection with the Demised Leased Premises and (2b) such party is then covered in whole or in part by insurance with respect to such loss, cost, damage, damage or expense, then the party so insured hereby releases the other party from any liability it may have on account of such loss, cost, damage, damage or expense to the extent of any amount recovered by reason of such insurance and waives any right of subrogation that which might otherwise exist in or accrue to any person on account thereof, provided that such release of liability and waiver of the right of subrogation shall not be operative in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof (provided that in the case of increased cost the other party shall have the right, within twenty thirty (30) days following written notice, to pay such increased cost, thereupon keeping such release and waiver in full force and effect).

Mutual Waiver of Subrogation Rights. Whenever (1) any loss, cost, damage, damage or expense resulting from fire, explosion, explosion or any other casualty or occurrence is incurred by either of the parties to this Lease Agreement in connection with the Demised Premises Property, and (2) such party is then covered in whole or in part by insurance with respect to such loss, cost, damage, damage or expense, then the party so insured hereby releases the other party from any liability it may have on account of such loss, cost, damage, damage or expense to the extent of any amount recovered by reason of such insurance. Landlord and Tenant agree to obtain endorsements from each of their respective insurance and waives carriers waiving any right rights of subrogation that which might otherwise exist in or accrue to any person on account thereofexist. Provided, provided however, that such release of liability and waiver of the right of subrogation shall not be operative required in any case where the effect thereof is to invalidate such insurance coverage or increase the cost thereof (provided that in the case of increased cost the other party shall have the right, within twenty thirty (30) days following written notice, to pay such increased cost, thereupon keeping such release and waiver in full force and effect).