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Policy# PDCPP0038504 <br /> The first Named Insured shall act on behalf of all Insureds for all purposes, including but not <br /> limited to the payment or return of premium, receipt and acceptance of any endorsement issued to <br /> form a part of this Policy, complying with all applicable Claim provisions, giving and receiving <br /> notice of cancellation or nonrenewal, reimbursement to the Insurer of any Retention advanced <br /> and the exercise of the rights provided in Section 11. Extended Reporting Period or Section 24. <br /> Subrogation. <br /> 24. SUBROGATION <br /> In the event of any payment under this Policy, the Insurer shall be subrogated to all the Insured's <br /> rights of recovery against any person or organization and the Insured or Additional Insured (if <br /> applicable) shall execute and deliver instruments and papers and do whatever else is necessary to <br /> secure such rights. The Insured or Additional Insured (if applicable)shall do nothing to prejudice <br /> such rights. <br /> The Insurer shall not exercise any such right against any Insured, Additional Insured (if <br /> applicable) or against any Insured's clients if prior to the Claim, a waiver of subrogation was so <br /> required and accepted under a specific contractual undertaking by such Insured. <br /> All recoveries obtained through subrogation shall be applied equally towards the Insured's <br /> Retention and the Insurer's costs with any remaining balance payable to the Insurer. <br /> 25. TITLES <br /> The titles of the sections of and endorsements to, this Policy are for reference only. Such titles <br /> shall not be part of the terms and conditions of coverage. <br /> Class 2— 14054 <br /> 06 CPP0011 00 04 15 Page 23 of 23 <br />