Common use of Errors and Oversights Clause in Contracts

Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. Clerical errors and oversights occasioned in good faith in carrying out this Agreement will not prejudice either party, and will be rectified promptly on an equitable basis. C:\NrPortbl\WO\JRAWERT\110682_10.DOC Agreed and accepted: VALLEY FORGE LIFE INSURANCE COMPANY By: ______________________________________ Name: ______________________________________ Title: ______________________________________ PHL VARIABLE INSURANCE COMPANY By: ______________________________________ Name: Title: C:\NrPortbl\WO\JRAWERT\110682_10.DOC

Appears in 4 contracts

Samples: Coinsurance Agreement (Jackson VFL Variable Life Separate Account), Coinsurance Agreement (Jackson VFL Variable Life Separate Account), Coinsurance Agreement (Jackson VFL Variable Annuity Separate Account)

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