Mutual Waivers of Subrogation Clause Samples
The Mutual Waivers of Subrogation clause prevents each party to a contract from seeking recovery from the other for losses that are covered by insurance. In practice, this means that if one party suffers a loss that is reimbursed by their insurer, neither the party nor their insurer can pursue the other party to recover those costs, regardless of fault. This clause is commonly used in construction and lease agreements to minimize litigation and disputes between parties, ensuring that insurance, rather than legal action, is the primary means of addressing covered losses.
Mutual Waivers of Subrogation. Each party hereby waives any and all claims against the other party for any and all liability or responsibility for any loss, injury or damage to any person(s), the Parking Garage, the building or the contents thereof which may be caused by fire, casualty, accident, or otherwise during the Term of the Agreement if, but only if, and only to the extent that, such loss or damage is covered by and recoverable under valid and collectible insurance carried by the waiving party.
Mutual Waivers of Subrogation. Each party hereby waives any and all claims against the other party for loss of or damage to its property in, on, or about the leased Premises occurring during the life of this Lease Agreement, if, but only if, and only to the extent that, such loss or damage is covered by and recoverable under valid and collectible insurance carried by the waiving party.
Mutual Waivers of Subrogation. Neither Landlord, nor Managing Agent shall be liable (by way of subrogation or otherwise) to any party (or to pay insurance company insuring another party) for any loss or damage to any property covered by insurance, even though such loss or damage might have been occasioned by the negligence of Landlord, Tenant or Managing Agent, or their respective agents, employees invitees, or guests. This provision shall be in effect only so long as the applicable insurance policies shall provide that the aforementioned waiver shall not affect the right of the insured to recover under such policies, and each party shall use its best efforts (including payment of additional premiums, if necessary) to have its insurance policies contain the standard waiver of subrogation clause. In the event landlord's or Tenant's insurance carrier decline to accept a standard waiver of subrogation clause, Landlord or Tenant, as the case may be, shall promptly notify the other party, in which event the other party shall not be required to have its insurance policies contain waiver of subrogation clause.
Mutual Waivers of Subrogation whenever (i) any loss, cost, damage or expense resulting from any peril described in this Section (18) is incurred by any party to this Lease in connection with the Suite or any part of the contents thereof, and (ii) such party is then covered under this Lease 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 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, however, in the case of an increase in the cost of the insurance coverage, the insured shall give to the other party notice of such increase and of the amount thereof and the other party may reinstate such waiver by paying to the insured the amount of the increase in the cost of such insurance. The failure to give notice of the increase in the cost shall mean the waiver is in effect notwithstanding such increase. If Tenant fails to maintain in force any insurance required by this Lease to be carried by it, then for the purposes of this waiver of subrogation it shall be deemed to have been fully insured and to have recovered the entire amount if its loss.
Mutual Waivers of Subrogation. Landlord and Tenant hereby waive any rights they may have against each other on account of any loss or damage occasioned to Landlord or Tenant, their property, the Demised Premises or, its contents, arising from any risk covered by fire and extended coverage insurance maintained by Landlord or Tenant, as the case may be. The parties hereto each, on behalf of their respective insurance companies insuring the property of either Landlord or Tenant against any such loss, waive any right of subrogation that it may have against Landlord or Tenant, and covenant to use commercially reasonable efforts to cause such insurance companies to waive any such rights of subrogation.
Mutual Waivers of Subrogation. As a material inducement to Landlord to enter into this Lease, Tenant hereby waives any and all rights of recovery (including any subrogation rights of its insurers) from Landlord, and Landlord's officers, directors, shareholders, partners, members, principals, employees, agents and representatives for any loss or damage, including consequential loss or damage, covered by any insurance policy maintained by Tenant, whether or not such policy is required pursuant to this Lease. Landlord likewise hereby waives any and all rights of recovery (including any subrogation rights of its insurers) from Tenant and Tenant's officers, directors, shareholders, partners, members, principals, employees, agents and representatives for any loss or damage, including consequential loss or damage, covered by any insurance policy maintained by Landlord.
Mutual Waivers of Subrogation. Owner and Construction Manager agree on behalf of themselves and any insurance carrier providing insurance coverage pursuant to this Exhibit C to waive any claim for subrogation to the extent of any payment under any policy procured by or on behalf of Owner or Construction Manager. This mutual waiver of subrogation is intended to apply to Owner, City, Owner's Representative, and any and all Subcontractors or suppliers of any tier providing labor, materials or equipment to the Project. Construction Manager shall include in its form Subcontract Agreement for this Project a clause requiring each of its Subcontractors to waive any rights of subrogation against Owner, City, Construction Manager, Owner's Representative, and Subcontractors and suppliers of any tier providing labor, materials or equipment to the Project. Construction Manager's form of Subcontract shall also require each Subcontractor to include in any Subsubcontract Agreement a flow-down clause requiring the Subsubcontractor to waive subrogation rights in the same manner that the Subcontractor has waived subrogation rights in its agreement with the Construction Manager.
Mutual Waivers of Subrogation. Landlord and Tenant hereby waive any rights they may have against each other on account of any loss or damage occasioned to Landlord or Tenant, their property, the Project, the Office Component, the Common Areas, Demised Premises or its contents, arising from any risk covered by fire and extended coverage insurance maintained (or required to be maintained) by Landlord or Tenant, as the case may be. The parties hereto each, on behalf of their respective insurance companies insuring the property of either Landlord or Tenant against any such loss, waive any right of subrogation that it may have against Landlord or Tenant, and covenant to use commercially reasonable efforts to cause such insurance companies to expressly waive any such rights of subrogation. The foregoing waiver shall apply regardless of the cause or origin of the claim, including, but not limited to, the negligence of a party or that party's agents, officers, employees or contractors.
Mutual Waivers of Subrogation. Anything in the Lease to the contrary notwithstanding, Landlord and Tenant each hereby waives any and all rights of recovery, claim, or other cause of action against the other, its agents, officers, or employees, for any loss or damage that may occur to any property of the other party, which would be insured against under the terms of the respective parties insurance, regardless of cause or origin, including negligence of the other party hereto, its agents, officers or employees, and each covenants that no insurer shall hold any right of subrogation against such party. However, with respect to damage to ▇▇▇▇▇▇▇▇’s property by fire, Tenant shall remain liable for its negligence, and/or the negligence of its subtenants, agents, or employees to the extent of the “deductible” contained in Landlord’s property insurance policy.
Mutual Waivers of Subrogation. Notwithstanding anything to the contrary in this Lease, each party hereby releases the other party, and its partners, officers, agents, employees, and servants, from any and all claims, demands, loss, expense, or injury to the Leased Premises or to the furnishings, fixtures, equipment, inventory, or other property in, about, or upon the Leased Premises, which is caused by or results from perils, events, or happenings which are the subject of fire or other casualty insurance in force at the time of such loss (or which would have been in force had the parties carried the insurance required hereunder) irrespective of any negligence on the part of the released party which may have contributed to or caused such loss; provided, however, that: (i) the party being released shall not be released from any liability to the extent that such damages are not covered by the insurance recovery obtained by the releasing party (or which would have been obtained had the releasing party carried the insurance required of it by this Lease), and (ii) the party being released shall be responsible for reimbursing the releasing party for any commercially reasonable deductible owed as a result of such damages. (Landlord represents to Tenant that as of the date of this Lease, Landlord’s applicable deductible is Five Thousand and No/11 Dollars ($5,000.00). Each party shall use commercially reasonable efforts to obtain, if needed, appropriate endorsements to its policies of insurance with respect to the foregoing releases; provided, however, that failure to obtain such endorsements shall not affect the releases hereinabove given.