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shall the Authority be impleaded by the covered party or its legal <br />representative. <br />(b) The Authority shall be subrogated to the extent of any payment hereunder <br />(including all ultimate net loss incurred) to all the covered party's rights of <br />recovery thereof, and the covered party shall do nothing after loss to <br />prejudice such right and shall do everything necessary to secure such right. <br />Any amount so recovered shall be apportioned as follows: <br />1) The Authority shall be reimbursed first to the extent of its actual <br />payment thereunder. If any balance then remains unpaid, it shall be <br />applied to reimburse the covered party. <br />2) The expenses of all such recovery proceedings shall be apportioned in <br />the ratio of respective recoveries. If there is no recovery in proceedings <br />conducted by the Authority, it shall bear the expenses thereof. <br />3) Bankruptcy or Insolvencv <br />Bankruptcy or insolvency of the covered party shall not relieve the Authority of any of its <br />obligations hereunder. <br />4) Other Coverage <br />If insurance or any other coverage with any insurer, joint powers authority or other <br />source respectively is available to the covered party covering a loss also covered <br />hereunder (whether on primary, excess or contingent basis), the coverage <br />hereunder shall be in excess of, and shall not contribute with, such other insurance <br />or coverage. This coverage shall be in excess of, and shall not contribute with, any <br />insurance or coverage designed to cover the operator of an automobile or <br />watercraft. This coverage shall be in excess of, and shall not contribute with, any <br />insurance or coverage which names a covered party herein as an additional covered <br />party or additional insured party, where coverage is extended to a loss also covered <br />hereunder. <br />This "other coverage" paragraph shall not operate to increase the covered party's <br />retained limit or the Authority's limit of coverage under this Memorandum because <br />of any coverage afforded to the covered party by the Employment Risk <br />Management Authority. <br />Memorandum of Coverage <br />Effective: 0710112019 <br />28 <br />