Subrogation and Assignment Clause Samples

Subrogation and Assignment a. Assignment relating to funds received under the Program. i. In consideration of Participant’s receipt of CDBG-DR Program benefits and/or the commitment by NCORR to provide benefits to the Participant under the Program, Participant hereby assigns to NCORR all of the Participant’s rights to future payment and all payment previously received under any policy of casualty or property damage insurance (the “Policies”), and/or any and all compensation by virtue of any settlement, offer, or judgment against a third-party for the same property loss that was provided for through the Program and/or under any reimbursement or relief program related to or administered by FEMA, SBA, and/or under any reimbursement or relief program administered by any other organization (singularly, a “Disaster Program” and collectively, the “Disaster Programs”) that are the basis of the calculation of Participant’s award to be paid to or on behalf of the Participant under the Program using CDBG-DR funds and that are determined to be a Duplication of Benefits (“DOB”) in accordance with the ▇▇▇▇▇▇▇▇ Act as provided in the Agreement. These Subrogation and Assignment provisions apply only to payments the Participant may receive for damage that this Agreement is intended to address. In other words, these provisions do not apply to payments received for damages from other unrelated disasters or other unrelated insurable events. ii. The proceeds or payments referred to in the preceding subparagraph whether they are from insurance, FEMA or the SBA, or any other source, shall be referred to herein as “Proceeds”, and any Proceeds that are a DOB shall be referred to herein as “DOB Proceeds”. Upon receiving any Proceeds not previously disclosed to NCORR, Participant agrees to immediately notify NCORR of such additional amounts. If some or all of the proceeds are determined to be a DOB, the portion that is a DOB shall be retained by DOC and deposited into an escrow account as described herein and in the Escrow Agreement incorporated herein by reference.

Subrogation and Assignment. Client is authorized to negotiate and be paid for Checks it receives in the ordinary course of its business unless otherwise instructed in writing by FIS following an "Event of Default", as defined below. Client's submission of a Warranty Claim shall be deemed an immediate assignment and subrogation of all right, title and interest in the corresponding Check to FIS. Client shall do whatever is necessary to secure FIS's right, title and interest in Warranty Claim Checks; shall cooperate with FIS in its confirmation of such right, title and interest; shall do nothing to prejudice such right, title or interest; and shall do nothing to impair FIS's ability to collect those Checks. In its capacity as assignee and/or subrogee, FIS is authorized to collect authorized Checks in its own name and on its own account. Client irrevocably authorizes and appoints FIS as its attorney-in-fact to: (a) prepare, execute and file statements, notices to financial institutions and other papers which FIS deems appropriate to acknowledge, confirm or perfect its rights and interest in authorized Checks; (b) sign any law enforcement reports, affidavits or other papers which are necessary to prosecute a Business or Check ▇▇▇▇▇▇; and (c) collect returned Checks, together with service charges and permissible damages. Client shall, upon request, reasonably cooperate with and assist in collection efforts and/or the prosecution of a Business or Check ▇▇▇▇▇▇, including making its employees and agents reasonably available to testify.