Waiver; Waiver of Subrogation. Each Party releases, assigns and waives any and all rights of recovery against the other Party and its respective Affiliates, subsidiaries, employees, successors, permitted assigns, insurers and underwriters, because of the existence of deductible clauses in, or inadequacy of limits of, any policies of insurance maintained or required to be maintained by such Party pursuant to this Agreement in the amounts stated herein. The Parties shall in all policies of insurance related to the Project maintained by each include clauses providing that each underwriter shall release, assign to the other Party, and its successors and assigns and waive all of its rights of recovery, under subrogation or otherwise, against the other Party, and each of their parent companies, Affiliates, subsidiaries, employees, successors, permitted assigns, insurers and underwriters.
Appears in 7 contracts
Samples: Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement (Powersecure International, Inc.), Engineering, Procurement and Construction Agreement (Powersecure International, Inc.)
