Subrogation Clause Example from Business Contracts

Subrogation. Subject to Section 12, in the event of payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee with respect to any insurance policy. Indemnitee shall execute all papers reasonably required and shall do everything that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. The C...ompany shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation. View More