In the event of any payment of a Loss under this policy, the Company shall be subrogated to the extent of such payment to the Insured's rights of recovery therefor against any person or organization (except in respect of Approved Recourse Amounts), and the Insured shall execute and deliver all instruments and papers and do whatever else is reasonably within its power to secure such rights, including rights with respect to amounts that have been applied to the Deductible and to any deposits made by the Customer (or, if applicable, the guarantor) to obtain and transfer Eligible Transaction Currency. The Company shall have the right to direct the manner in which such assets shall be liquidated. The Insured shall do nothing to prejudice such rights.
The Company will not pay a Loss under this policy, and the Insured will reimburse any such Loss paid, if any sources of recovery to which it shall be subrogated are subject to any lien, security, interest or other third party claim superior to that of the Company and of which the Insured was aware after making reasonable enquiry.