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If a pote ntial claim is properly reported pursuant to t he req uirements of t hi s prov1 s1o n, then any claim <br />subsequently made aga in st an Insured based upo n or arising from such wrongful act or circ umstance shall be <br />deemed, fo r purposes of th is Pol icy, to have been made duri ng the policy period or any app li cab le extended <br />reporting pe ri od, in wh ich such poten ti al claim was first reported . <br />3. Prem ium Pa yment <br />Our ob li gation to perform any duty under the Policy is strictly co nditi oned upon the payment of the prem ium <br />when due. Similarly, our ob li gation to perform any d uty purs uant to a renewa l of coverage provided under the <br />Pol icy sha ll be strictl y cond it ioned upon t he payment of t he rene wal pre mi um w hen due . Therefore, this Policy <br />sha ll not be dee med to ha ve been iss ued , de li vered , or renewed and shall not be app li cable to any matter which <br />wou ld otherwise be covered here in, until : <br />a. The prem i um has been pa id in f ull; or, <br />b. I f we have agreed to fi nance the Po li cy , the first insta ll ment has been pa id in full . <br />If payment is made by check, electronic transfer or money order, it shall not be considered "pa id in full" until <br />honored by the payor's bank. <br />4. Coopera ti on and Subrogation <br />a. You agree to coope rate w it h us and assist us in t he in vestiga ti on, defense and settlement of any and all <br />claims, poten ti al claims and req uests for Supplementary Payments , in clud ing but not li mited to , promptly <br />prov iding complete and accu rate informa ti o n which we may reaso nably requi re, attend in g any deposi ti on, <br />heari ng or trial as req uested by us , ass isti ng in secur in g and giv ing testimony, obta ining t he attendance of <br />w it nesses, and doi ng nothi ng to prejud ice our ab ili ty to investigate, defe nd or settle any claim or <br />disciplinary proceeding to wh ich th is Pol icy appl ies. <br />b. If we request, you agree to subm it to any exami nation under oath that we may requ ire , to be conducted <br />by our representat ives at a ti me and place of our choosi ng. <br />c. You agree to fo ll ow our recommendat ion regard ing whether or not to arbitrate or med iate a claim and <br />shall not agree to arbitrate or med iate a claim without our prior w ri tten consent. <br />d. In t he event of any pay ment under this Pol icy , we sha ll be subrogated to all your r ights of recovery aga inst <br />any pe rson or organizatio n, incl udi ng any rights you may ha ve aga inst any other Insured w ho persona ll y <br />participated or persona ll y acq ui esced in or rema ined passive after ha vi ng knowledge of any dishonest, <br />in tentiona ll y wrongful, f raudule nt, crim ina l, or mal icious act or omiss ion . You shall execute and de liver <br />in strume nts and papers and do whatever else is necessary to sec ure and co ll ect upon such r ights. You <br />shall do noth i ng to prejud ice such r ights. <br />e. A~er deducting any costs or expenses incurred in obtaining recoveries under t his sect ion, the amount <br />recovered shall be appl ied : <br />(1) first, to the Insured in reimbursement of any deducti ble ; <br />(2) second , to us for reimbursement of any amount pa id under the Pol icy; and, <br />(3) th ird, shared equa ll y between the Insured and us for re i mbursement of amounts incurred as a <br />result of the claim. <br />5. Action aga i nst Us <br />No action may be taken against us unless, as a co ndi t ion precedent, you have fully comp lied w ith all terms and <br />cond it ions of this Po licy and the amount of damages has been finally determined by the entry of judgment or <br />by the written agreement between the Insured, the cla imant and us. No person or entity shall have any right <br />under this Pol icy to join us as a party to any action aga i nst the Insured to determ ine such Insured's liability, <br />nor shall we be joined as a party or interpleaded by the Insured or the legal representatives of the Insured <br />unless otherwise mandated by la w . <br />6. Ass ignment <br />Ne ither this Policy nor any Insured's interest in this Po licy may be assigned or transferred w ithout our prior <br />written conse nt. However, if the Insured is a person and d ies, the coverage afforded by this Policy sha ll inure <br />to the benefit of the deceased Insured's estate. <br />ATY -0001-00-0116 Page 11 of 16 © 2016 Attorney Protective . All r ights reserved.