Common use of SUBROGATION UPON PAYMENT OR SETTLEMENT Clause in Contracts

SUBROGATION UPON PAYMENT OR SETTLEMENT. Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the insured mortgage, or release any collateral security for the indebtedness, provided such act occurs prior to receipt by the insured of notice of any claim of title or interest adverse to the title to the estate or interest or the priority of the lien of the insured mortgage and does not result in any loss of priority of the lien of the insured mortgage. The Company shall be subrogated to and be entitled to all rights and remedies which such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and if requested by the Company, such insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such right of subrogation and shall permit the Company to use the name of such insured claimant in any transaction or litigation involving such rights or remedies. If the payment does not cover the loss of such insured claimant, the Company shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss, but such subrogation shall be in subordination to the insured mortgage. If loss of priority should result from any act of such insured claimant, such act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation.

SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the insured mortgage, or release any collateral security for the indebtedness, provided such act occurs prior to receipt by the insured of notice of any claim of title or interest adverse to the title to the estate or interest or the priority of the lien of the insured mortgage and does not result in any loss of priority of the lien of the insured mortgage. The Company shall be subrogated to and be entitled to all rights and remedies which such the insured claimant would have had against any person or property in respect to such the claim had this policy not been issued, and if . If requested by the Company, such the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such this right of subrogation and subrogation. The insured claimant shall permit the Company to sue, xxmpromise or settle in the name of the insured claimant and to use the name of such the insured claimant in any transaction or litigation involving such these rights or remedies. If the a payment on account of a claim does not fully cover the loss of such the insured claimant, the Company shall be subrogated to such these rights and remedies in the proportion which said the Company's payment bears to the whole amount of said the loss, but such subrogation shall be in subordination to the insured mortgage. If loss of priority should result from any act of such the insured claimant, such as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder by this policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against Non-Insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other polices of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy.

SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the insured mortgage, or release any collateral security for the indebtedness, provided such act occurs prior to receipt by the insured of notice of any claim of title or interest adverse to the title to the estate or interest or the priority of the lien of the insured mortgage and does not result in any loss of priority of the lien of the insured mortgage. The Company shall be subrogated to and be entitled to all rights and remedies which such the insured claimant would have had against any person or property in respect to such the claim had this policy not been issued, and if . If requested by the Company, such the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such this right of subrogation and subrogation. The insured claimant shall permit the Company to xxx, compromise or settle in the name of the insured claimant and to use the name of such the insured claimant in any transaction or litigation involving such these rights or remedies. If the a payment on account of a claim does not fully cover the loss of such the insured claimant, the Company shall be subrogated to such these rights and remedies in the proportion which said the Company's payment bears to the whole amount of said the loss, but such subrogation shall be in subordination to the insured mortgage. If loss of priority should result from any act of such the insured claimant, such as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder by this policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy.

SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the insured mortgage, or release any collateral security for the indebtedness, provided such act occurs prior to receipt by the insured of notice of any claim of title or interest adverse to the title to the estate or interest or the priority of the lien of the insured mortgage and does not result in any loss of priority of the lien of the insured mortgage. The Company shall be subrogated to and be entitled to all rights and remedies which such that the insured claimant would have had against any person or property in respect to such the claim had this policy not been issued, and if . If requested by the Company, such the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such this right of subrogation and subrogation. The insured claimant shall permit the Company to sue, xxmpromise or settle in the name of the insured claimant and to use the name of such the insured claimant in any transaction or litigation involving such these rights or remedies. If the a payment on account of a claim does not fully cover the loss of such the insured claimant, the Company shall be subrogated to such these rights and remedies in the proportion which said the Company's payment bears to the whole amount of said the loss, but such subrogation shall be in subordination to the insured mortgage. If loss of priority should result from any act of such the insured claimant, such as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against hereunder which by this policy that shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that provide for subrogation rights by reason of this policy.