Basis for Arbitration. The parties understand and agree that the wording and interpretation of this Agreement is based on the usual customs and practices of the insurance and reinsurance industries. While the parties agree to act in good faith in their dealings with each other, it is understood and recognized that situations could arise in which they will not be able to reach an agreement.
Appears in 3 contracts
Samples: Automatic Yrt Reinsurance Agreement (Nationwide VLI Separate Account-7), Automatic Yrt Reinsurance Agreement (Citizens Inc), Automatic Yrt Reinsurance Agreement (Citizens Inc)
Basis for Arbitration. The parties understand and agree that the wording and interpretation of this Agreement is based on the usual customs and practices of the insurance and reinsurance industries. While the parties agree to act in good faith in their dealings with each other, it is understood and recognized that situations could arise in which they will not be able to reach an agreement. 3.
Appears in 1 contract
Samples: Facultative Yrt Reinsurance Agreement (National Variable Life Insurance Account)
