Common use of Subrogation Clause in Contracts

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes payment any public institution of this Party pays compensation to its own investors under pursuant to a guarantee it has accorded in respect of providing coverage for an investment in the territory of investment, the other Contracting Party, Party shall recognise that the latter former Contracting Party shall recognize:or the public institution concerned is subrogated into the rights of the investors.

Subrogation. 1. If a Contracting Party or its designated any agency thereof makes a payment to any of its own investors under a guarantee or a contract of insurance it has accorded entered into in respect of an investment in the territory of investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of such Contracting Party shall recognize:or agency thereof to any right or title held by the investor.

Subrogation. 1. If a one Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a one Contracting Party or its designated agency Agency ("the first Contracting Party") makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Party ("the second Contracting Party"), the latter second Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee or insurance it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under by virtue of a guarantee against non- commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its an agency designated agency by it makes payment to its own investors an investor under a guarantee policy of insurance covering non-commercial risks, which it has accorded given in respect of an any investment of capital or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Partyinvestments, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a one Contracting Party or its designated any agency thereof makes payment to one of its own investors under a guarantee it has accorded or an insurance contract concluded in respect of an investment in the territory of such investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of the first party or contracting agency thereof to any right or title held by the investor. The Contracting Party shall recognize:or any agency thereof is entitled to exercise the same rights that the investor would have been entitled to exercise.

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to its own investors the benefit of the investor of the Contracting Party under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:recognize the assignment to the former Contracting Party or its designated agency by law or legal transaction of all the rights and claims of the investor to whom compensation was paid in full.

Subrogation. 1. If a Contracting Party (or its designated agency Agency) makes payment to any of its own investors under an indemnity or a guarantee it has accorded granted in respect of an investment or any part thereof in the territory of the other Contracting host Party, or has otherwise become subrogated to any ofthe rights of such investors with respect to such investment, the latter Contracting host Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors nationals or companies under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 11 . If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its designated agency makes payment to one of its own investors under a guarantee against non- commercial risks it has accorded given in respect of an investment or any part thereof invested in the territory of the other Contracting contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a an indemnity, guarantee it has accorded or contract of insurance given in respect of an investment of an investor in the territory of the other Contracting Party, the latter other Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency (the party "indemnified") makes payment to its own investors under a an indemnity or guarantee it has accorded assumed in respect of an investment in the territory of the other Contracting Partycontracting party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated any agency thereof makes a payment to any of its own investors under a guarantee or a contract of insurance it has accorded entered into in respect of an investment in the territory of investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of such Contracting Party shall recognize:or agency thereof to any right or title held by the investor.

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a an investor of the Contracting Party pursuant to an indemnity, guarantee it has accorded in respect of or insurance contract pertaining to an investment in of that investor within the territory Territory of the other Contracting Party, the latter that other Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated any agency thereof makes a payment to any of its own investors under a guarantee or a contract of insurance it has accorded entered into in respect of an investment in the territory of investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of such Contracting Party shall recognize:or agency thereof to any light or title held by the investor.

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded or indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency ("compensating Party") makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party ("Host Party") in exchange for compensation or guarantee obligations in respect of the investment, then the latter Contracting Party host party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to any of its own investors under a pursuant to an indemnity, guarantee it has accorded in respect or insurance contract, pertaining to investments of an investment that investor in the territory of the other another Contracting Party, the latter Contracting Party shall recognizeshall:

Subrogation. 1. If a Contracting Party or its designated agency Agency makes payment payments to its own investors under a guarantee it has accorded in respect of non-commercial risks for an investment in the territory of the other Contracting Party, Party the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a one Contracting Party or its designated agency makes a payment to its own investors investor under a guarantee it has accorded an indemnity given in respect of an investment in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency institution makes a payment to its own investors under a guarantee it has accorded in respect of an approved for investment in the territory of the other Contracting Party, the latter other Contracting Party shall recognize:recognise.

Subrogation. (1. ) If a one Contracting Party or its designated agency Agency makes a payment to its own investors investor under a guarantee it has accorded an indemnity given in respect of an investment made in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. (1. ) If a one Contracting Party or its designated agency Agency makes a payment to its own investors investor under a guarantee it has accorded an indemnity given in respect of an investment in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. (1. ) If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee against non- commercial risks it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors an investor under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment of that investor made in the territory of the State of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its an agency designated agency by it makes payment to its own investors an investor under a guarantee policy of insurance against noncommercial risks, which it has accorded given in respect of an any investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Partyinvestment, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded granted in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity, guarantee, or contract of insurance given in respect of an investment of an investor of that Contracting Party in the territory of the other Contracting Party, the latter other Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its an agency designated agency by it makes payment to its own investors an investor under a guarantee policy of insurance against non-commercial risks, which it has accorded given in respect of an any investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 11 . If a Contracting Party or its designated agency Agency makes a payment to its own investors investor under a an indemnity, guarantee it has accorded or contract of insurance given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded or indemnity given in respect of an investment investments in the territory of the State of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its an agency designated agency by it makes payment to its own investors an investor under a guarantee policy of insurance covering non-commercial risks, which it has accorded given in respect of an any investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency intermediary makes payment payments to its own investors under a guarantee an indemnity which it has accorded in respect of an investment connection with investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a one Contracting Party or its designated agency Agency makes a payment to its own investors under a guarantee it has accorded given in respect of an investment in the territory of the other Contracting Party, the latter other Contracting Party shall shall, without prejudice to the rights of the investor of the first Contracting Party under Article 9 of the present Agreement and to the rights of the first Contracting Party under Article 10 of the present Agreement, recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment in the territory of investments, the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. 1 If a Contracting Party or its designated agency makes (the "compensating party") made a payment to its own investors under a an indemnity or guarantee it has accorded given in respect of an investment in the territory of the other Contracting Partycontracting party (the host contracting party), the latter Contracting Party shall recognizeit shall:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors the benefit of the investor of the Contracting Party under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:recognize the assignment to the former Contracting Party or its designated agency by law or legal transaction, all the rights and claims of the investor to whom compensation was paid in full.

Subrogation. (1. ) If a either Contracting Party or its an agency designated agency by it makes payment to its own investors an investor under a guarantee policy of insurance covering non-commercial risks, which it has accorded given in respect of an any investment or any part thereof in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 1. ) If a either Contracting Party or its designated agency Agency makes payment to one of its own investors under a guarantee it has accorded given in respect of an investment or any part thereof invested in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee against non commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency (for the purpose of this Article: the "guarantor") makes a payment to its own investors under a guarantee it has accorded given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency institution makes a payment to its own investors under a guarantee it has accorded in respect of an approved for investment in the territory of the other Contracting Party, the latter other Contracting Party shall recognize:recognise.

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated authorized agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a either Contracting Party or its designated agency makes payment to the investors of its own investors State under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment in the territory of the other Contracting PartyState, the latter other Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a an indemnity, guarantee it has accorded or contract of insurance of non commercial risks given in respect of an investment Investment of an investor in the territory of the other Contracting Party, the latter other Contracting Party shall recognize:

Subrogation. 1. If a the Contracting Party or its designated agency makes payment authorized body carries out payments according to its own investors under a guarantee it has accorded in respect (insurance contract) given concerning investments of an investment the investor in the territory of the other Contracting Party, that the latter other Contracting Party shall recognizeshould admit:

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated any agency thereof makes a payment to any of its own investors under a guarantee or a contract of insurance against non-commercial risk it has accorded entered into in respect of an investment in the territory of investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of such Contracting Party shall recognize:or agency thereof to any right or title held by the investor.

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors investor under a an indemnity, guarantee it has accorded or contract of insurance given in respect of an investment of an investor of that Contracting Party in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party (or its designated agency Agency) makes payment to any of its own investors under an indemnity or a guarantee it has accorded assumed in respect of an investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party Party, shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment any institution authorized by it will make payments to any of its own investors under a guarantee it has accorded or insurance, the prisoner in respect of an investment in connection with the territory of investment, the other Contracting Party, the latter Contracting Party shall recognizewill be recognized:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in in. the territory of the other Contracting Party, the latter Contracting Party party shall recognize:

Subrogation. (1. ) If a either Contracting Party or its designated agency Agency makes payment to its own investors under a guarantee an indemnity it has accorded given in respect of an investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee against non- commercial risks it has accorded in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a either Contracting Party (or its designated agency Agency), makes payment payment,to its it own investors nationals or companies, under a guarantee it has accorded given in respect of an investment aninvestment or any part thereof in the territory of the other Contracting Party, the latter thelatter Contracting Party shall recognizerecognise:

Subrogation. 1. If a Contracting Party or its designated agency intermediary makes payment payments to its own investors under a in accordance with the guarantee it has accorded given in respect of connection with an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated any agency thereof makes a payment to any of its own investors under a guarantee or a contract of insurance it has accorded entered into in respect of Or an investment in the territory of investment, the other Contracting Party, Party shall recognize the latter validity of the subrogation in favour of such Contracting Party shall recognize:or agency thereof to any right or title held by the investor.

Subrogation. 1. If a one Contracting Party or its designated agency authorized representative makes a payment to its own investors under as a guarantee it has accorded in respect of for non- commercial risk associated with an investment in the territory of the other Contracting Party, the latter Contracting other Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of to an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:recognize without prejudice to the rights of the former Contracting Party under Article 9 of this Agreement

Subrogation. (1. ) If a one Contracting Party or its designated agency Agency makes a payment to its own investors investor under a an indemnity, guarantee it has accorded or contract of insurance given in respect of an investment in the territory area of the other Contracting Party, the latter Contracting Party shall recognizerecognise :

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded or contract of insurance against non-commercial risks given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall shall, notwithstanding its rights under the Article 9 of this Agreement, recognize:

Subrogation. (1. ) If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee against non-commercial risks it has accorded in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded or indemnity given in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognizerecognise:

Subrogation. 11 . If a Contracting Party or its designated agency makes payment to its own investors under a guarantee against non- commercial risks it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. 1 - If a Contracting Party or its designated agency makes payment to its own investors under a guarantee against noncommercial risks it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a one of the two Contracting Party Parties, or one of its designated agency makes payment to its own investors under a guarantee it institutions, has accorded in respect of granted an investment guarantee by an investor in the territory of the other Contracting PartyParty and has made payments under the guarantee granted, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded an indemnity given in respect of an investment in the territory of the other Contracting Partyinvestments, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee against non- commercial risks it has accorded in respect of an investment investments in the territory of the other Contracting Party, the latter Contracting Party shall recognize:;

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to the benefit of its own investors investor under a guarantee it has accorded an indemnity given in respect of an investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. (1. ) If a Contracting Party or its designated agency makes a payment to its own investors the benefit of the investor of the Contracting Party under a guarantee it has accorded an indemnity given in respect of an investment or any part thereof in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Partyinvestment, the latter Contracting Party shall recognize:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party shall recognize:

Subrogation. 1. If a Contracting Party or its designated agency makes payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party Parry shall recognizerecognise:

Subrogation. 1. If a one Contracting Party or its designated agency makes a payment to its own investors under a guarantee it has accorded in respect of an investment in the territory of the other Contracting Party, the latter Contracting Party Party, shall recognizerecognise: