Common use of Release and Waiver of Subrogation Clause in Contracts

Release and Waiver of Subrogation. Landlord and Tenant each hereby waives all rights of recovery against the other and the other’s Agents on account of loss and damage occasioned to the property of such waiving party to the extent only that such loss or damage is required to be insured against under any “all risk” property insurance policies required by this Article 9; provided, however, that (i) the foregoing waiver shall not apply to the extent of Tenant’s obligations to pay deductibles under any such policies and this Lease, and (ii) if any loss is due to the act, omission or negligence or willful misconduct of Tenant or its agents, employees, contractors, guests or invitees, Tenant’s liability insurance shall be primary and shall cover all losses and damages prior to any other insurance hereunder. By this waiver it is the intent of the parties that neither Landlord nor Tenant shall be liable to any insurance company (by way of subrogation or otherwise) insuring the other party for any loss or damage insured against under any “all-risk” property insurance policies required by this Article 9, even though such loss or damage might be occasioned by the negligence of such party or its Agents. The provisions of this Section 9.4 shall not limit the indemnification, hold harmless and/or defense provisions elsewhere contained in this Lease.

Appears in 6 contracts

Samples: Office Lease (Arteris, Inc.), Office Lease (Arteris, Inc.), NNN Office Lease (Aridis Pharmaceuticals, Inc.)

AutoNDA by SimpleDocs

Release and Waiver of Subrogation. Landlord and Tenant each --------------------------------- hereby waives all rights of recovery against the other and the other’s 's Agents on account of loss and damage occasioned to the property of such waiving party to the extent only that such loss or damage is required to be insured against under any "all risk" property insurance policies required by this Article 9; provided, however, that (i) the foregoing waiver shall not apply to the extent of Tenant’s 's obligations to pay deductibles under any such policies and this Lease, and (ii) if any loss is due to the act, omission or negligence or willful misconduct of Tenant or its agents, employees, contractors, guests or invitees, Tenant’s 's liability insurance shall be primary and shall cover all losses and damages prior to any other insurance hereunder. By this waiver it is the intent of the parties that neither Landlord nor Tenant shall be liable to any insurance company (by way of subrogation or otherwise) insuring the other party for any loss or damage insured against under any "all-risk" property insurance policies required by this Article 9, even though such loss or damage might be occasioned by the negligence of such party or its Agents. The provisions of this Section 9.4 shall not limit the indemnification, hold harmless and/or defense provisions elsewhere contained in this Lease.

Appears in 1 contract

Samples: Office Lease (Netflix Com Inc)

AutoNDA by SimpleDocs

Release and Waiver of Subrogation. Landlord and Tenant each hereby waives all rights of recovery against Notwithstanding anything in the other and the other’s Agents on account of loss and damage occasioned Lease to the property of such waiving party contrary, the parties hereto release each other, and their respective agents, employees, successors, assignees and sublessees, from any liability for injury to the extent only that such loss any person or damage to property that is caused by or results from any risk which is actually insured against or which is required to be insured against under any “all risk” property insurance policies required by this Article 9the Lease, without regard to the negligence of the person or entity so released; provided, however, that subject to the following limitations: (i) the foregoing waiver provision shall not apply to the extent of Tenant’s obligations to pay deductibles under any such policies commercial general liability insurance described by subparagraphs Section 9.1A and this Lease, and Section 9.2B; (ii) if such release shall apply to liability resulting from any loss is due risk insured against or covered by self-insurance maintained or provided by Tenant or Landlord, respectively, to satisfy the requirements of Section 9.1 to the act, omission or negligence or willful misconduct extent permitted by this Lease. Each party shall cause each insurance policy obtained by it to provide that the insurer waives all right of Tenant or its agents, employees, contractors, guests or invitees, Tenant’s liability insurance shall be primary and shall cover all losses and damages prior to any other insurance hereunder. By this waiver it is the intent of the parties that neither Landlord nor Tenant shall be liable to any insurance company (recovery by way of subrogation or otherwise) insuring against the other party for and its agents and employees in connection with any loss injury or damage insured against covered by such policy to the extent such separate waiver is required under any “all-risk” property insurance policies required by such policy. All of Landlord's and Tenant's repair and indemnity obligations under this Article 9, even though such loss or damage might Lease shall be occasioned by subject to the negligence of such party or its Agents. The provisions of this Section 9.4 shall not limit the indemnification, hold harmless and/or defense provisions elsewhere waiver and release contained in this Leaseparagraph.

Appears in 1 contract

Samples: Building Lease Agreement (Drexler Technology Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!