Common use of Principle of Subrogation Clause in Contracts

Principle of Subrogation. In the event that a Contracting Party has provided any financial guarantee on non-commercial risks in connection with an investment made by its investors in the territory of the other contracting party, the latter shall accept the subrogation of the first Contracting Party in the economic rights of the investor, from the first time that the Contracting Party has made a payment under the guarantee granted. The subrogation will ensure that Contracting Party is the first beneficiaries of any direct payments of compensation to the investor might be secured. As regards property rights, use, enjoyment or any other right, the subrogation shall take place only after obtaining the relevant authorisations in accordance with the legislation of the Contracting Party where the investment was made.

Principle of Subrogation. In the event that a Contracting Party has contracting party Haye provided any financial guarantee on non-commercial risks in connection with an investment made by its investors in the territory of the other contracting party, the latter shall accept the subrogation of the first Contracting Party party contratente in the economic rights of the investor, from the first time that the Contracting Party has made a payment under the guarantee granted. The the subrogation will ensure that Contracting Party is the first beneficiaries of any direct payments of compensation to the investor might be secured. As regards property rights, use, enjoyment or any other right, the subrogation shall take place only after obtaining the relevant authorisations in accordance with the legislation of the Contracting Party where the investment was made.

Principle of Subrogation. In the event that a Contracting Party has provided any financial guarantee on non-commercial risks in connection with an investment made by its investors in the territory of the other contracting party, the latter shall accept the subrogation of the first Contracting Party in the economic rights of the investor, from the first time that the Contracting Party has made a payment under the guarantee granted. The the subrogation will ensure that Contracting Party is the first beneficiaries of any direct payments of compensation to the investor might be secured. As regards property rights, use, enjoyment or any other right, the subrogation shall take place only after obtaining the relevant authorisations in accordance with the legislation of the Contracting Party where the investment was made.