Common use of Error and Oversight Clause in Contracts

Error and Oversight. 11.1 If, through unintentional error, oversight, omission, or misunderstanding (collectively referred to as "errors"), Pool Reinsurer or NML fails to comply with the terms of this Agreement and if, upon discovery of the error by either party, the other is promptly notified, each will be restored to the position it would have occupied if the error had not occurred, including the effect of the time value of money, using the 13-week U.S. Treasury Xxxx rate or such other rate to which the parties may agree.

Error and Oversight. 11.1 If, through unintentional error, oversight, omission, or misunderstanding (collectively referred to as "“errors"”), Pool Reinsurer or NML fails to comply with the terms of this Agreement and if, upon discovery of the error by either party, the other is promptly notified, each will be restored to the position it would have occupied if the error had not occurred, including the effect of the time value of money, using the 13-week U.S. Treasury Xxxx rate or such other rate to which the parties may agree.