Common use of Principle of Subrogation Clause in Contracts

Principle of Subrogation. If either Contracting Party or its designated agency makes payment to one of its investors under any financial guarantee against non-commercial risks it has granted in regard of an investment in the territory of the other Contracting Party, the latter shall recognize the assignment, whether under a law or pursuant to a legal transaction, of any right or claim of that investor to the first Contracting Party or its designated agency.

Principle of Subrogation. If either Contracting Party or its designated agency makes payment to one of its investors under any financial guarantee against non-commercial risks it has granted in regard of an investment in the territory of the other Contracting Party, the latter shall recognize shall, without prejudice to the assignmentrights of the former Contracting Party under Article 10, whether under a law or pursuant to a legal transactionrecognize, by virtue of the principle of subrogation, the assignment of any right or claim of title of that investor to the first Contracting Party or its designated agency.

Principle of Subrogation. If either a Contracting Party or its designated agency makes a payment to under an indemnity, guarantee or contract of insurance given in respect of an investment of one of its investors under any financial guarantee against non-commercial risks it has granted in regard of an investment in the territory of the other Contracting Party, the latter shall recognize the assignment, whether under a law or pursuant to a legal transaction, assignment of any right or claim of that such investor to the first former Contracting Party or its designated agencyagency and the right of the former Contracting Party or its designated agency to exercise by virtue of subrogation any such right and claim to the same extent as its predecessor in title.