Common use of Wavier of Subrogation Clause in Contracts

Wavier of Subrogation. Lessor and Tenant hereby release and waive for the duration of this Lease Agreement and any extension or renewal thereof their respective rights of recovery against each other for any loss resulting from perils of fire and/or extended coverage as defined in fire insurance policies issued to either Lessor or Tenant in effect at the time of loss, provided that such waiver and release shall apply only in the event such agreement does not prejudice the insurance afforded by such policies.