Common use of No Double Counting Clause in Contracts

No Double Counting. For the avoidance of any doubt, any irrevocable payment made by any Transaction Obligor to the Export Credit Agency as a result of subrogation or following a demand by the Export Credit Agency under Clause 27.2 (Reimbursement) (as applicable) shall automatically discharge to the extent of such payment: (a) the corresponding payment obligation to the Export Credit Agency, respectively, pursuant to Clause 27.2 (Reimbursement) and subrogation; and (b) to the extent not already discharged by a payment made by the Export Credit Agency under the ECA Cover Document, the corresponding payment obligation owed to the Finance Parties under the Finance Documents.