Release and Waiver of Subrogation. The parties hereto release each other, and their respective authorized representatives, from any claims for injury to any persons or damage to property that are caused by or result from risks insured against under any insurance policies carried by the parties and in force at the time of such damage, but only to the extent such claims are covered by such insurance. This release shall be in effect only so long as the applicable insurance policies contain a clause to the effect that this release shall not affect the right of the insured to recover under such policies. Each party shall cause each insurance policy obtained by it to provide that the insurance company waives all rights of recovery by way of subrogation against either party in connection with any damage covered by such policy.
Appears in 6 contracts
Samples: Industrial Real Property Lease (Thermadyne Australia Pty Ltd.), Industrial Real Property Lease (Thermadyne Australia Pty Ltd.), Industrial Real Property Lease (Thermadyne Australia Pty Ltd.)
Release and Waiver of Subrogation. The Notwithstanding anything to the contrary in this Lease, the parties hereto release each other, and their respective authorized representativesagents, employees and subtenants from any claims liability for injury to any persons or damage to property that are caused by arises out of or result from risks incident to any peril which is actually insured against, which is required to be insured against under any insurance policies carried this Lease, or which would normally be covered by the parties and in force at the time of such damageso called “all risk” property insurance, but only without regard to the extent such claims are covered by such insurance. This release shall be in effect only so long as the applicable insurance policies contain a clause to the effect that this release shall not affect the right negligence or willful misconduct of the insured to recover under such policiesentity or party so released or any other cause. Each party shall cause each property insurance policy obtained by it obtains to provide that the insurance company insurer thereunder waives all rights right of recovery by way of subrogation against either party as required herein in connection with any injury or damage covered by such the policy.
Appears in 2 contracts
Samples: Lease Agreement (Agilent Technologies Inc), Lease (BioMed Realty Trust Inc)
Release and Waiver of Subrogation. The parties hereto release waive all --------------------------------- rights against each other, and their respective authorized representatives, from any claims other for injury to any persons or damage damages to property that are caused by fire or result from risks insured against under any insurance policies carried by the parties and in force at the time of such damage, but only other perils to the extent such claims damages are covered by insurance obtained pursuant to any provision of this Section 9, or any other property insurance applicable to the Premises; provided, however, that such insurance. This release shall be in effect waivers are effective only so long as if the applicable insurance policies of both parties contain a clause to the effect that this release shall not affect the right of the insured to recover under such policiespolicy. Each party shall use reasonable efforts to cause each insurance policy obtained by it to provide that the insurance company insurer waives all rights right of recovery by way of subrogation against either the other party in connection with any injury or damage covered by such policy.
Appears in 1 contract
Samples: Lease Agreement (Pixtech Inc /De/)