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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 43 / 60

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FORM 17

WAIVER OF SUBROGATION

Landlord and Tenant each waive any rights it may have against the other on account of any loss or damage occasioned to Landlord or Tenant, as the case may be, their respective property, the Premises or its contents or to other portions of the Shopping Center arising from any liability, loss, damage or injury caused by fire or other casualty for which property insurance is carried or required to be carried pursuant to this Lease. Each of the parties hereto, on behalf of their respective insurance companies insuring the property of either Landlord or Tenant against any such loss, to the extent of any recovery under such insurance, waives any right of subrogation that it may have against the other. Each waiver shall be expressly included in, and shall comply with the requirements of, the respective insurance policies. Should either or both of the respective insurance companies assess a charge for such waive:, each party shall pay only for the charge assessed by its respective insurer.

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