Common use of MUTUAL RELEASE AND WAIVER OF SUBROGATION Clause in Contracts

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 each hereby waives, waives and releases the other from any claim or liability for damage to such party's property occurring during the Term which is to the extent covered by insurance. Each party shall cause the property hazard insurance carried by it, with respect to the ProjectBuilding, 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.