Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement fails to comply with any of the provisions of this Agreement because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. Both parties will be restored to the position they would have occupied had no such oversight or misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 3 contracts
Samples: Accident and Health Coinsurance Agreement (Hanover Insurance Group, Inc.), Faflic Trust Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co), Faflic Trust Agreement (Vel Ii Acct of State Mutual Life Assur Co of America)
Errors and Oversights. Each If any party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement fails to comply with any of the Agreement provisions of this Agreement because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. Both All parties will be restored to the position they would have occupied had no such oversight or nor misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ausa Series Life Account), Global Preferred Holdings Inc, Global Preferred Holdings Inc
Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement party fails to comply with any of the provisions of this Agreement because of an unintentional oversight clerical errors, oversights or misunderstandingmisunderstandings in the administration of this Agreement, the underlying status of this Agreement will not be changed. Both The parties will be restored at the earliest possible date to the position they would have occupied had no such clerical error, oversight or misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 3 contracts
Samples: Reinsurance Agreement (PHL Variable Accumulation Account), Reinsurance Agreement (Nassau Life Variable Accumulation Account), Reinsurance Agreement (Nassau Life Variable Universal Life Account)
Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement party fails to comply with any of the provisions of this Agreement because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. Both The parties will be restored to the position they would have occupied had no such oversight or nor misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 2 contracts
Samples: Automatic Reinsurance Agreement (PHL Variable Accumulation Account), Novation Agreement (Nassau Life Variable Universal Life Account)
Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement party fails to comply with any of the provisions of this Agreement because of an unintentional oversight or misunderstandingmisunderstanding in the administration of this Agreement, the underlying status of this Agreement will not be changed. Both The parties will be restored to the position they would have occupied had no such oversight or nor misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 1 contract
Samples: Reinsurance Agreement (Phlvic Variable Universal Life Account)
Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If either of the parties to this Agreement party fails to comply with any of the provisions of this Agreement because of an unintentional oversight or misunderstandingmisunderstanding relating to clerical errors in the administration of this Agreement, the underlying status of this Agreement will not be changed. Both The parties will be restored to the position they would have occupied had no such oversight or nor misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 1 contract
Samples: Automatic Yrt Reinsurance Agreement (Phlvic Variable Universal Life Account)
