Common use of HONORABLE UNDERTAKING Clause in Contracts

HONORABLE UNDERTAKING. This Agreement, Rehabilitation Agreement, Service Agreement and the related agreements are an honorable undertaking of the Parties, the good faith of each of which shall be presumed in the absence of clear evidence to the contrary. Said agreements represent the Parties' joint drafting efforts and no presumption shall be made that ambiguities should be construed in favor of, or against, any of them. Disputes arising under said agreements shall be presumed to be the result of good faith disagreements and no statutory, punitive or exemplary damages shall be recoverable in the absence of a finding by a court of competent jurisdiction of gross negligence, actual fraud or intentional misrepresentation.

HONORABLE UNDERTAKING. This Agreement, Rehabilitation Assumption Reinsurance Agreement, Service Agreement and the related agreements are an honorable undertaking of the Parties, the good faith of each of which shall be presumed in the absence of clear evidence to the contrary. Said agreements represent the Parties' ’ joint drafting efforts and no presumption shall be made that ambiguities should be construed in favor of, or against, any of them. Disputes arising under said agreements shall be presumed to be the result of good faith disagreements and no statutory, punitive or exemplary damages shall be recoverable in the absence of a finding by a court of competent jurisdiction of gross negligence, actual fraud or intentional misrepresentation.