Re:Waiver of Subrogation (1 viewing) (1) Guest
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TOPIC: Re:Waiver of Subrogation
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Tomas (User)
Senior Boarder
Posts: 69
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Re:Waiver of Subrogation 1 Year, 6 Months ago
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Karma: 3
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Here are a couple.....
WAIVER OF SUBROGATION
Owner waives subrogation against Builder, Architect, subcontractors, and sub-subcontractors on all property and consequential loss policies carried by Owner during and after completion of the Work. If the insurance policies require an endorsement to provide for continued coverage when there is a waiver of subrogation, the policy owner will cause them to be so endorsed.
Waiver of Lessor’s lien.
Lessor waives any lien rights it may have concerning the Lessee Facilities which are deemed Lessee’s personal property and not fixtures, and Lessee has the right to remove replace the same at any time without Lessor’s consent.
Lessor acknowledges that Lessee has entered into a financing arrangement including promissory notes and financial and security agreements for the financing of the Lessee Facilities (the Collateral) with a third party financing entity (and may in the future enter into additional financing arrangements with other financing entities). In connection therewith, Lessor (i) consents to the installation of the Collateral; (ii) disclaims any interest in the Collateral, as fixtures or otherwise; and (iii) agrees that the Collateral shall be exempt from execution, foreclosure, sale, levy, attachment, or distress for any Rent due or to become due and that such Collateral may be removed at any time without recourse to legal proceedings.
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