Principle of Subrogation. Where one Contracting Party has granted any financial guarantee against non-commercial risks in regard to an investment by one of its investors in the territory of the other Contracting Party, the latter shall recognize the rights of the first Contracting Party by virtue of the principle of subrogation to the rights of the investor when payment has been made under this guarantee by the first Contracting Party.
Principle of Subrogation. If one Contracting Party pays an indemnity to one of its investors in relation with an investment in the territory of the other Contracting Party under a guarantee against non-commercial risks, the latter Contracting Party shall recognize the subrogation of the former in the rights or titles of the investor.
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, without prejudice to the rights of the former Contracting Party under Article 9 of this Agreement, recognize the assignment, whether under a law or pursuant to a legal transaction, of any right or claim of that investor to the former Contracting Party or its designated agency. The latter Contracting Party shall also recognize the subrogation of the former Contracting Party to any such right or claim which that Contracting Party shall be entitled to assert to the same extent as its predecessor in title. The other Contracting Party shall be entitled to set off taxes and other public charges due and payable by the investor.
Principle of Subrogation. If a Contracting Party makes a payment to a national or company pursuant to a guarantee it has granted in respect to an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize the assignment of any right or title of such national or company to the former Contracting Party and the subrogation of the former Contracting Party to any such right or title.
Principle of Subrogation. 1. In the event that a party has provided a financial guarantee for non-commercial risks in relation to an investment made by an investor of this Party in the territory of the other Party, the latter shall accept the application of the principle of subrogation of the first Party to the economic rights of the investor and not to the rights in rem, as soon as the first Party has made a payment from the guarantee provided.
2. This subrogation shall make it possible for the first party to be the direct beneficiary of all payments of compensation to which it might be entitled at the outset. In no case shall there be subrogation in rights of ownership, use, enjoyment or any other right in rem deriving from the ownership of the investment without first obtaining the appropriate authorisations in accordance with the laws on foreign investment in force in the Party where the investment was made.
Principle of Subrogation. (1) If a Contracting Party or its designated agency makes a payment in respect of an investment in the territory of the other contracting party, the latter Contracting Party shall recognize the first assignment to the contracting party or its designated agency by law or pursuant to a contract of all rights and claims of indemnified the investor and the right of the former Contracting Party or agency dé-signé by it to exercise such rights and enforce such claims by virtue of subrogation to the same extent as the investor.
(2) Any payment made by one contracting party (or any representative, any institu-tion, any statutory body or any legal person designated by it) to its investors shall not affect the right of such investors to make claims against the other contracting party, in accordance with the provisions of article 8, provided that the exercise of such a right would not duplicate or not contradicted the exercise of a right by virtue of subrogation as provided for in paragraph (1) above.
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 provided any financial guarantee on non-commercial risks in connection with an investment made by an investor of this contracting party in the territory of the other contracting party, the latter shall accept an application of the principle of subrogation to the first contracting party into the rights of the investor, with regard to compensation for payments due, from the time at which it has made a payment under the guarantee granted. In no case may occur subrogation in property rights, use, enjoyment or any other right derived from the ownership of their investment without prior to obtain relevant authorisations, according to the Law on Foreign Investment in force in the Contracting Party where the investment was made.
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. 1- Where one Contracting Party has granted any financial security against non-commercial risks in respect of an investment in the territory of the other Contracting Party, the other contracting party shall recognize the rights of the first Contracting Party legal assignee by virtue of a legal document and it include all rights and claims of the party who received the compensation and recognize the right of the first party or its assignee to practice such right principle of subrogation to the rights of its nationals to the extent and limits practiced by the party guaranteed or compensated.
2- Any payments received by the first contracting party or its assignee in non-convertible currency according to gained rights and claims, shall be available for free disposal by the first contracting party for the purpose to cover any expenses occurs in the territory of the other contracting party.
