Common use of Oversights Clause in Contracts

Oversights. Inadvertent delays, oversights, errors or omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party from any liability that would have attached had such delay, oversight, error or omission not occurred. The Parties shall nevertheless cooperate in good faith to rectify such delay, oversight, error or omission as soon as possible after discovery so that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, error or omission had occurred.

Appears in 20 contracts

Samples: Coinsurance Agreement (Farmers Annuity Separate Account A), Coinsurance Agreement (Metropolitan Tower Separate Account Two), Coinsurance Agreement (Metropolitan Life Separate Account E)

AutoNDA by SimpleDocs

Oversights. Inadvertent delays, oversights, errors errors, or omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party from any liability that would have attached had such delay, oversight, error error, or omission not occurred. The Parties shall nevertheless cooperate in good faith to rectify such delay, oversight, error error, or omission as soon as possible after discovery so that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, error error, or omission had occurred.

Appears in 11 contracts

Samples: Assumption Reinsurance Agreement (SEPARATE ACCOUNT EQ OF VENERABLE INSURANCE & ANNUITY Co), Assumption Reinsurance Agreement (Equitable America Variable Account No.70A), Assumption Reinsurance Agreement (Separate Account No. 49B)

Oversights. Inadvertent delays, oversights, errors or omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party party from any liability that which would have attached had such delay, oversight, error or omission not occurred. The Parties shall nevertheless cooperate in good faith to rectify , provided always that such delay, oversight, error or omission is rectified as soon as possible after discovery so discovery, and provided that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, party Table of Contents making such error or omission had occurredor responsible for such delay shall be responsible for any additional liability which attaches as a result. However, this Section 5.01 shall not be construed as a waiver by either party of its right to enforce strictly the terms of this Agreement.

Appears in 1 contract

Samples: Indemnity Reinsurance Agreement

Oversights. Inadvertent delays, oversights, errors or omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party from any liability that would have attached had such delay, oversight, error or omission not occurred;. The Parties shall nevertheless cooperate in good faith to rectify such delay, oversight, error or omission as soon as possible after discovery so that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, error or omission had occurred.

Appears in 1 contract

Samples: Coinsurance Agreement (Prudential Annuities Life Assurance Corp/Ct)

AutoNDA by SimpleDocs

Oversights. Inadvertent delays, oversights, errors or omissions made in connection with this Agreement or any transaction hereunder shall not relieve either Party from any liability that would have attached had such delay, oversight, error or omission not occurred. The Parties shall nevertheless cooperate in good faith to rectify such delay, oversight, error or omission as soon as possible after discovery so that both Parties shall be restored as closely as possible to the positions they would have occupied if no delay, oversight, error or omission had occurred, including complying with the provisions of Section 3.4.

Appears in 1 contract

Samples: Reinsurance Agreement (Farmers Annuity Separate Account A)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!