Common use of Release and Waiver of Subrogation Clause in Contracts

Release and Waiver of Subrogation. Landlord shall not be liable for any damage or loss to fixtures, equipment, merchandise or other personal property of Tenant located anywhere in or upon the Premises caused by fire, water, explosion, sewer backup or any other insurable hazards, regardless of the cause thereof, and Tenant does hereby expressly release Landlord of and from any and all liability for such damage or loss. Landlord shall not be liable for any damage or loss resulting from business interruption at the Premises arising out of or incident to the occurrence of any of the perils which can be covered by a business interruption policy, and Tenant does hereby expressly release Landlord of and from any liability for such damage or loss. Tenant shall not be liable for any damages to the Premises or any part thereof caused by fire or other insurable hazards, regardless of the cause thereof, and Landlord does hereby expressly release Tenant of and from any and all liability for such damages or loss. To the extent that any of the risks or perils described in this Section 28 are in fact covered by insurance, each party shall cause its insurance carriers to waive all rights of subrogation against the other party.