SUBROGATION AND INDEMNITY Sample Clauses
The Subrogation and Indemnity clause establishes the rights and responsibilities of parties regarding the transfer of claims and the reimbursement for losses. In practice, this clause allows one party (often an insurer) to step into the shoes of another party to pursue recovery from a third party responsible for a loss, and also requires one party to compensate the other for certain damages or liabilities. Its core function is to prevent double recovery and ensure that losses are ultimately borne by the party responsible, thereby allocating risk and clarifying financial responsibility in the event of a claim.
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SUBROGATION AND INDEMNITY. The Insurer has a right of subrogation or reimbursement from an Insured to whom it has paid any claims to or on behalf of, if such Insured has recovered all or part of such payments from a third party. Furthermore, the Insurer has the right to proceed at its own expense in the name of the Insured, against third parties who may be responsible for causing a claim under this policy or who may be responsible for providing indemnity of benefits for any claim under this policy.
SUBROGATION AND INDEMNITY. Anything herein to the contrary notwithstanding, each party hereto hereby releases and waives all claims, rights of recovery and causes of action that either party or any party claiming by, through or under such party by subrogation or otherwise may now or hereafter have against the other party or any of the other party's partners, directors, officers,employees or agents for any loss or damage that may occur to the Premises, improvements or any of the contents of any of the foregoing by reason of fire or other casualty, or any other cause except gross negligence or willful misconduct(but including negligence of the parties hereto or their partners, directors, officers, employees, or agents) that is insured against under the terms of(i) any standard fare and extended coverage insurance policies required under the terms of this Lease,or(ii)any other loss covered by insurance required to be maintained under the terms of this Lease; provided,however, that this waiver shall be ineffective against any insurer of Lessor or Lessee to the extent that such waiver(i)is prohibited by the laws and insurance regulations of the State of Georgia or (ii) would invalidate any insurance coverage of Lessor or Lessee. The waiver set forth in this Section shall not apply to any deductibles on policies carried by Lessor, or Lessee or to any coinsurance penalty which Lessor or Lessee might sustain. Except for any of the claims, rights of recovery and causes of action that Lessor has released and waived pursuant to this Section, Lessee hereby releases, indemnifies, defends and holds harmless Lessor and Lessor's partners, agents, directors, officers, employees, invitees and contractors, from all claims, losses, costs, damages or expenses(including,but not limited to,reasonable attorneys' fees actually incurred)resulting or arising from any and all injuries or death of any person or damage to any property occurring during the Initial Term, any Option Term, or any tenancy after either,caused or alleged to have been caused by any act,omission, or neglect of Lessee or Lessee's directors, officers, employees, agents, invitees or guests, or any parties contracting with Lessee relating to the Premises, except(i) when such loss results from a default by Lessor under this Lease or the willful conduct or negligent act or omission of Lessor, its agents, employees or contractors, or (ii) to the extent of any insurance proceeds received(or receivable)by Lessor or payable under Lessor's insuranc...
SUBROGATION AND INDEMNITY. (1) The Issuer acknowledges and agrees that the Guarantor shall be subrogated to all of the rights of each Beneficiary under the Guarantee against the Issuer in respect of any amount paid by the Guarantor pursuant to the Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon such rights of subrogation until all Guaranteed Obligations under the related Guaranteed Instrument shall have been paid in full.
(2) The Guarantor acknowledges that any claim that the Guarantor may have against the Issuer by way of subrogation or indemnity in connection with the Guarantee or under the Indemnity Agreement shall not, by virtue of such right of subrogation or indemnity, create a first charge on the assets of the Issuer for the purposes of paragraph 369(1)(a) of the Bank Act (Canada), paragraph 374(1)(a) of the Trust and Loan Companies Act or paragraph 353(1)(a) of the Cooperative Credit Associations Act (Canada) or any successors thereto.
SUBROGATION AND INDEMNITY. (1) The Guarantor shall be subrogated to all of the rights of the Beneficiary against the applicable Issuer in respect of any amount paid by the Guarantor pursuant to this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce or to receive any payments arising out of or based upon such rights of subrogation until all related Guaranteed Obligations have been paid in full.
(2) Any claim that the Guarantor may have against an Issuer by way of subrogation or indemnity in connection with this Guarantee shall not, by virtue of such right of subrogation or indemnity, create a first charge on the assets of the Issuer for the purposes of paragraph 369(1)(a) of the Bank Act (Canada), paragraph 374(1)(a) of the Trust and Loan Companies Act or paragraph 353(1)(a) of the Cooperative Credit Associations Act (Canada), if applicable, or any successors thereto.
SUBROGATION AND INDEMNITY. Until the Indebtedness has been paid in full, Guarantor waives any right: (i) to enforce any indemnity Guarantor has or may have under any agreement or law against IC One; (ii) to enforce any remedy Guarantor has or may have against IC One; and (iii) to participate in, or benefit from, any security for the Indebtedness or this Guaranty now or hereafter held by ▇▇▇▇▇ Star. If any bankruptcy proceeding is filed at any time by or against IC One, and if the Indebtedness is not at that time fully paid or fully secured, each Guarantor waives any claim such Guarantor may have against IC One as a creditor or holder of a claim.
SUBROGATION AND INDEMNITY. The Guarantor shall not exercise any rights which it may have acquired by way of subrogation, indemnity or contribution under this Guarantee (by virtue of any payment being made by it hereunder, or any liability of it to make payment hereunder, or otherwise) or exercise any right of contribution against any other guarantor, unless and until all Guaranteed Obligations have been finally paid and performed in full. If any amount shall be paid (including through any exercise of set-off rights) to the Guarantor arising out of or based upon such right of subrogation, indemnity or contribution at a time when the Guaranteed Obligations have not been finally paid and performed in full, such amount shall be deemed to have been paid to the Guarantor for the benefit of, and held by the Guarantor in trust for, the Guarantee Beneficiaries, and shall forthwith be paid to the Guarantee Beneficiaries, to be credited and applied to the Guaranteed Obligations, whether matured or unmatured.
SUBROGATION AND INDEMNITY the Obligor cannot be reimbursed by the Borrower or any other Obligor until the Lender has received payment in full of the Amount Outstanding and each Obligor has performed and complied with the Secured Obligations.
SUBROGATION AND INDEMNITY. In addition to the rights of subrogation which the Company may have as a matter of law or equity, the Indemnitor shall indemnify Company from and against all liabilities by reason of the guaranty agreement, the Credit Agreement, the Note and the other loan documents and against all demands, claims, actions, losses and expenses arising therefrom, including reasonable attorney's fees.