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<br />The "Covered Party" shall forward promptly to the Authority any requested <br />information on individual "occurrences", claims or cases, and shall render to the <br />Authority within thirty (30) days after the close of each Loss Reporting Period specified <br />in Item 6 of the Declarations an experience report upon a form satisfactory to the <br />Authority showing in detail the amount disbursed during the preceding Loss Reporting <br />Period in settling claims and the estimated future payments on or reserves for <br />outstanding claims. <br /> <br />V. <br /> <br />The Authority, at its own election and expense, shall have the right to participate with <br />the "Covered Party" in, or to assume in the name of the "Covered Party", control <br />over the investigation, settlement, defense or appeal of any claim, suit or proceeding <br />which might involve liability of the Authority. <br /> <br />SERVICE ORGANIZATION: As a condition precedent to recovery hereunder, it is <br />agreed that the "Covered Party" will engage one or more service organizations <br />and/or in-house staff acceptable to the Authority to perform on behalf of the "Covered <br />Party", and without charge to the Authority, such services as may be acceptable to <br />the Authority during the currency of this Memorandum and until the final settlement of <br />all claims arising out of "occurrences" which take place while this Memorandum is in <br />force. The performance of such services shall not constitute any undertaking on <br />behalf of the Authority, nor relieve the "Covered Party" of any of its obligations under <br />the terms of this Memorandum. <br /> <br />VI. <br /> <br />ASSISTANCE AND COOPERATION: In the event the Authority elects to participate <br />with the "Covered Party" in, or to assume in the name of the "Covered Party", <br />control over the investigation, defense or appeal of any claim, suit or proceeding, the <br />"Covered Party" shall cooperate to the fullest extent with the Authority and its <br />representatives. <br /> <br />Upon the Authority's request the "Covered Party" shall direct its service organization <br />and/or other representatives to cooperate with and assist the Authority in all matters <br />relative to such investigation, settlement, defense or appeal. <br /> <br />If the Authority elects to assume control as described above, the Authority shall give <br />written notice of such election to the "Covered Party". Upon receipt of such written <br />notice the "Covered Party" shall not, except at its own cost, voluntarily make any <br />payment, assume any obligation or incur any expense other than such immediate <br />medical or other services at the time of injury as are required by the "Workers' <br />Compensation Act" or such immediate medical and surgical relief as may become <br />imperative at the time of an "occurrence". <br /> <br />VII. <br /> <br />LOSS PAYABLE: The Authority shall pay any "loss" for which it may be liable under <br />this Memorandum in the following manner: <br /> <br />A. As respects Paragraphs A and B of Insuring Agreement I, payment shall first <br />be made by the "Covered Party" in accordance with the provisions of the <br />Workers' Compensation Law, and the Authority shall reimburse the <br /> <br />Form 7/1/2004 <br /> <br />Page 6 of 8 <br />