MUTUAL RELEASE/WAIVER OF SUBROGATION. Licensor and Licensee each hereby release the other from any and all liability or responsibility for any loss, injury or damage to the other’s real and/or personal property caused by fire or any other casualty insured by a standard “all risk” property insurance policy during the Term of this Agreement, even if such fire or casualty may have been caused by the negligence (but not the willful misconduct) of the other party or one for whom such party may be responsible. Inasmuch as the above mutual waivers will preclude the assignment of any aforesaid claim by way of subrogation (or otherwise) to an insurance company (or any other person), each party hereto hereby agrees if required by said policies to give to each insurance company which has issued to it policies of fire and extended coverage insurance, written notice of the terms of said mutual waivers, and to have said insurance policies properly endorsed, if necessary, to prevent the invalidation of said insurance coverage by reason of said waivers.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Each of Landlord and Tenant hereby releases the other from any and all liability or responsibility to the other or anyone claiming through or under them by way of subrogation or otherwise for any loss or damage to property caused by any of the all risk casualties, even if such casualty shall have been caused by the fault or negligence of the other party, or anyone for whom such party may be responsible.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Landlord and Tenant agree to have all property insurance which may be carried by either of them endorsed with a clause providing that any release from liability of or waiver of claim for recovery from the other party or any of the parties named above entered into in writing by the insured thereunder prior to any loss or damage shall not affect the validity of said policy or the right of the insured to recover thereunder, and providing further that the insurer waives all rights of subrogation which such insurer might have against the other party or any of the parties named in above. Without limiting any release or waiver of liability or recovery contained in any other Section of this Lease but rather in confirmation and furtherance thereof, Landlord and any beneficiaries of Landlord waive all claims for recovery from Tenant, and Tenant waives all claims for recovery from Landlord, any beneficiaries of Landlord and the managing agent for the Premises and their respective agents, partners and employees, for any loss or damage to any of its property insured under valid and collectible insurance policies to the extent of any recovery collectible under such insurance policies. Notwithstanding the foregoing or anything contained in this Lease to the contrary, any release or any waiver of claims shall not be operative, nor shall the foregoing endorsements be required, in any case where the effect of such release or waiver is to invalidate insurance coverage or invalidate the right of the insured to recover thereunder or increase the cost thereof (provided that in the case of increased cost the other party shall have the right, within ten (10) days following written notice, to pay such increased cost, thereby keeping such release or waiver in full force and effect).
MUTUAL RELEASE/WAIVER OF SUBROGATION. Each of Landlord and Tenant hereby releases the other from any and all liability or responsibility to the other or anyone claiming through or under them by way of subrogation or otherwise for any loss or damage to property caused by any of the all risk casualties insurable under an all risk property insurance policy, even if such casualty shall have been caused by the fault or negligence of the other party, or anyone for whom such party may be responsible. Landlord shall maintain at all times from and after the date hereof and through the Term commercial general liability insurance in the amount of not less than $1,000,000 on a combined single limit basis and name the Tenant as an additional named insured thereon.
MUTUAL RELEASE/WAIVER OF SUBROGATION. For itself and any person or entity claiming through or under it by way of subrogation, Sublandlord and Subtenant each hereby releases and waives all claims against the other with respect to any loss of or damage to property, whether or not caused by the negligence or fault of the other, to the extent such loss or damage is insured under the “all risk” property insurance required to be mailed pursuant to Section 8.1. In addition, Sublandlord and Subtenant shall each cause their insurers for the Premises or the contents thereof, to waive in its insurance policy all rights of recovery by way of subrogation against the other in connection with any loss or damage to property covered by such policy.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Landlord and Tenant hereby release each other and anyone claiming through or under the other by way of subrogation from any and all liability for any loss of or damage to property, whether or not caused by the negligence or fault of the other party. In addition, Landlord and Tenant shall cause each insurance policy carried by them insuring the Premises or the Shopping Center, or the contents thereof, to be written to provide that the insurer waives all right of recovery by way of subrogation against the other party hereto in connection with any loss or damage covered by the policy.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Each Party hereby releases and waives for itself, and to the extent legally possible for it to do so, on behalf of its insurer, each of the other Parties and their officers, directors, agents, members, partners, servants and employees from liability for any loss or damage to any or all property (including any resulting loss of time element including business interruption, rents or extra expense) located in or on the H/C I Space, the H/C II Space, the Mall I Space, the Mall II Space, the SECC Land and/or any improvements located in or on any of the foregoing, which loss or damage is of the type said Party is required to insure against by this Article X, irrespective of any negligence on the part of the released Party which may have contributed to or caused such loss or damage. Each Party covenants that it will, if generally available in the insurance industry, obtain for the benefit of each such released Party a waiver of any right of subrogation which the insurer of such Party may acquire against any such Party by virtue of the payment of any such loss covered by such insurance.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Landlord and Tenant each hereby release the other from any and all liability or responsibility for any direct or consequential loss, injury or damage during the term of this Lease, to the extent such loss, injury or damage is covered by the terms of any insurance policy maintained by Landlord or Tenant. Inasmuch as the above mutual waivers will preclude the assignment of any claim by way of subrogation (or otherwise) to an insurance company (or any other person), each party hereto agrees if required by said policies to give to each insurance company which has issued to it all risk and other property insurance, written notice of the terms of said mutual waivers, and to have said insurance policies properly endorsed, if necessary, to prevent the invalidation of said insurance coverage by reason of said waivers. Tenant shall not carry any stock of goods or do anything in or about said Premises which will increase insurance rates on said Premises or the Building in which the same are located. If Landlord shall consent to such use, Tenant agrees to pay as additional rental any increase in premiums for all risk insurance resulting from the business carried on in the Premises by Tenant. Tenant shall, at its own expense, comply with the requirements of insurance underwriters and insurance rating bureaus and governmental authorities having jurisdiction, except to the extent this Lease requires Landlord to comply with the same. The Tenant shall maintain in full force and effect during the term hereof, a policy of public liability insurance under which Landlord and Tenant shall be named insureds. The minimum limits of liability of such insurance shall be $2,000,000.00 combined single limit as to bodily injury and property damage. Tenant may provide any coverage required under this Lease through blanket policies. Landlord shall, during the term hereof, keep in full force and effect the following insurance:
(a) Standard form property insurance insuring the Building and the Premises (including all installations and fixtures, but excluding Tenant's personal property) against loss or damage due to the perils of fire and other casualties covered within the classification of fire and extended coverage, vandalism, malicious mischief, special extended coverage (All Risk), sprinkler leakage and water damage. Such policy or policies shall provide for loss payable to Landlord. Such policies will include coverage equal to the full replacement cost of the Building, including the P...
MUTUAL RELEASE/WAIVER OF SUBROGATION. Each Party covenants that it will, if generally available in the insurance industry, obtain for the benefit of each such released Party a waiver of any right of subrogation which the insurer of such Party may acquire against any such Party by virtue of the payment of any such loss covered by such insurance. In the event any Party is by law, statute or governmental regulation unable to obtain a waiver of the right of subrogation for the benefit of another Party, then, during any period of time when such waiver is unobtainable, said Party shall not have been deemed to have released any subrogated claim of its insurance carrier against such other Party, and during the same period of time such other Party shall be deemed not to have released the Party who has been unable to obtain such waiver from any claims it or its insurance carrier may assert which otherwise would have been released pursuant to this Section.
MUTUAL RELEASE/WAIVER OF SUBROGATION. Notwithstanding anything to the contrary set forth in this Lease, Landlord and Tenant each hereby release the other from any and all liability or responsibility for any loss or damage to property located within the Premises, the Building, the Project, the Common Areas or any portions thereof, or any contents caused by fire or any other casualty, or accident during the Term of this Lease or any extensions thereof, even if such fire, casualty, or accident may have been caused by the negligence (but not the gross negligence or willful misconduct) of the other party or one for whom such party may be responsible; provided, however, that the foregoing release shall be effective only to the extent that the releasing party is either compensated for its loss by insurance proceeds or such party would have been compensated for its loss by insurance proceeds had it complied with the insurance requirements imposed under Article 14. Inasmuch as the above mutual waivers will preclude the assignment of any aforesaid claim by way of subrogation (or otherwise) to an insurance company (or any other person), each party hereto hereby agrees, if required by said policies, to give to each insurance company which has issued to it policies of fire and extended coverage insurance, and other insurance, written notice of the terms of said mutual waivers, and to have said insurance policies properly endorsed, if necessary, to prevent the invalidation of said insurance coverage by reason of said waivers. To the extent either party is waiving its subrogation rights or is required to obtain waivers of subrogation rights with respect to its insurance policies, any such waiver by either party is expressly conditioned on (1) such a waiver not invalidating such party’s insurance policies and (2) the availability of waiver of subrogation rights under such insurance policies.
