Document ID: 13926

Text:
10.3.3 Property Insurance Subrogation. Landlord and Tenant intend that their respective property loss risks shall be borne by insurance carriers to the extent above provided (and, in the case of Tenant, by an insurance carrier satisfying the requirements of Section10.4(i) below), and Landlord and Tenant hereby agree to look solely to, and seek recovery only from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided hereunder. The parties each hereby waive all rights and claims against each other for such losses, and waive all rights of subrogation of their respective insurers. Landlord and Tenant hereby represent and warrant that their respective all risk property insurance policies include a waiver of (i)subrogation by the insurers, and (ii)all rights based upon an assignment from its insured, against Landlord and/or any of the Landlord Parties or Tenant and/or any of the Tenant Parties (as the case may be) in connection with any property loss risk thereby insured against. Tenant will cause all other occupants of the Premises claiming by, under, or through Tenant to execute and deliver to Landlord a waiver of claims similar to the waiver in this Section10.3.3 and to obtain such waiver of subrogation rights endorsements. If either party hereto fails to maintain the waivers set forth in items (i)and (ii)above, the party not maintaining the requisite waivers shall indemnify, defend, protect, and hold harmless the other party for, from and against any and all claims, losses, costs, damages, expenses and liabilities (including, without limitation, court costs and reasonable attorneys fees) arising out of, resulting from, or relating to, such failure.

Named Entities:

Tokenized Text:
10
.
3
.
3
Property
Insurance
Subrogation
.
Landlord
and
Tenant
intend
that
their
respective
property
loss
risks
shall
be
borne
by
insurance
carriers
to
the
extent
above
provided
(
and
,
in
the
case
of
Tenant
,
by
an
insurance
carrier
satisfying
the
requirements
of
Section10
.
4
(
i
)
below
)
,
and
Landlord
and
Tenant
hereby
agree
to
look
solely
to
,
and
seek
recovery
only
from
,
their
respective
insurance
carriers
in
the
event
of
a
property
loss
to
the
extent
that
such
coverage
is
agreed
to
be
provided
hereunder
.
The
parties
each
hereby
waive
all
rights
and
claims
against
each
other
for
such
losses
,
and
waive
all
rights
of
subrogation
of
their
respective
insurers
.
Landlord
and
Tenant
hereby
represent
and
warrant
that
their
respective
all
risk
property
insurance
policies
include
a
waiver
of
(
i
)
subrogation
by
the
insurers
,
and
(
ii
)
all
rights
based
upon
an
assignment
from
its
insured
,
against
Landlord
and
/
or
any
of
the
Landlord
Parties
or
Tenant
and
/
or
any
of
the
Tenant
Parties
(
as
the
case
may
be
)
in
connection
with
any
property
loss
risk
thereby
insured
against
.
Tenant
will
cause
all
other
occupants
of
the
Premises
claiming
by
,
under
,
or
through
Tenant
to
execute
and
deliver
to
Landlord
a
waiver
of
claims
similar
to
the
waiver
in
this
Section10
.
3
.
3
and
to
obtain
such
waiver
of
subrogation
rights
endorsements
.
If
either
party
hereto
fails
to
maintain
the
waivers
set
forth
in
items
(
i
)
and
(
ii
)
above
,
the
party
not
maintaining
the
requisite
waivers
shall
indemnify
,
defend
,
protect
,
and
hold
harmless
the
other
party
for
,
from
and
against
any
and
all
claims
,
losses
,
costs
,
damages
,
expenses
and
liabilities
(
including
,
without
limitation
,
court
costs
and
reasonable
attorneys
fees
)
arising
out
of
,
resulting
from
,
or
relating
to
,
such
failure
.