Waiver of Insurance Subrogation. Neither party has any obligation or responsibility for loss or damage to the other’s real or personal property that is caused by fire, extended coverage perils, vandalism, or malicious mischief.
Waiver of Insurance Subrogation. Landlord agrees to and does release Tenant from all claims arising out of a loss or damage to its property covered (or that should have been covered if Landlord actually purchased and maintained the insurance policy) by the required insurance coverage imposed upon Landlord in this Section of this lease. Tenant agrees to and does release Landlord from all claims arising out of a loss or damage to its property covered (or that should have been covered if Tenant actually purchased the insurance policy) by the required insurance coverage imposed upon Tenant in this Section of this lease. Any deductible attributable to an insurance policy subject to this Agreement is not part of the insured loss. Landlord and Tenant agree to rely solely on the proceeds recoverable from any insurance policy purchased and maintained by the respective party (or that should have been recoverable if the policy was actually purchased and maintained) for reimbursement for any loss or damage to the property of that party, including the Premises and all personal property located on or in the Premises. Landlord and Tenant further agree that each parties’ respective insurance company must agree to waive its right of subrogation against the other party, and that each insurance policy will be endorsed with a subrogation waiver if necessary to prevent the invalidation of either Landlord or Tenant’s insurance coverage.
