Common use of ASSIGNMENT OF CLAIM Clause in Contracts

ASSIGNMENT OF CLAIM. If the Guarantor is obliged to make any payments under this Guarantee, it will take over the Bank's right to claim repayment and interest and other costs from the Borrower according to this Agreement, to the extent of the amount the Guarantor actually paid, without any further notice to or consent by the Bank.

ASSIGNMENT OF CLAIM. If the Guarantor is obliged to make any payments under this Guarantee, it will take over the Bank's right to claim repayment and interest and other costs from the defaulting Borrower according to this Agreement, to the extent of the amount the Guarantor actually paid, without any further notice to or consent by the Bank.