Subrogation Provision definition
Examples of Subrogation Provision in a sentence
It is important that you carefully review and understand the Subrogation Provision prior to signing the form.
SAMPLE Subrogation Provision: In the event that coverage is provided under this Agreement, We shall be subrogated to all the rights You may have to recover against any personor organization arising out of any safetydefect which is thesubjectof avoluntary or mandatory recall campaign, as well as out of any order, judgment, consent decree, or other settlement, and You shall execute and deliver instruments and papers and do whatever is necessary to secure such rights.
The R&W Insurance Policy shall provide that the Subrogation Provision shall not be terminated, waived, or amended in a manner that is reasonably expected to actually prejudice the Sellers without the written consent of the Sellers.
Buyer shall not terminate, waive or amend the Subrogation Provision in a manner that is reasonably expected to actually prejudice the Sellers without the written consent of the Sellers.
Parent covenants and agrees to not amend the Subrogation Provision in any manner adverse to the Company Stockholders without the Representative’s consent, provided that the foregoing shall not be interpreted to in any way limit Parent’s right to pursue claims, handle claims, or otherwise exercise any rights afforded to Parent under the R&W Insurance Policy, all of which remain at Parent’s sole discretion.
In addition, the Purchasers agree not to amend or waive the Waiver of Subrogation Provision in any manner that is adverse to Seller, its Subsidiaries or any of their respective direct or indirect past or present shareholder, partner, stockholder, manager, member, director, officer or employee without Seller’s prior written consent (which consent shall be in the sole and absolute discretion of Seller).
Notwithstanding anything herein to the contrary, but subject to the Waiver of Subrogation Provision in section 29 below, if applicable, each party shall be liable to the other for its negligence, intentional acts or breach of this Lease as well as the negligence and intentional acts of its agents, employees and/or representatives.
Notwithstanding anything to the contrary herein, in the event that the Buyer Insurance Policy is ultimately bound, except with the Seller’s written consent, the Subrogation Provision shall not be amended, modified, or changed after the date hereof in any manner that would reasonably be expected to be adverse to the Seller, any Cash-Out Holder or any of their respective their Affiliates absent the prior written consent of the Seller.