Common use of Oversights Clause in Contracts

Oversights. If there is an unintentional oversight or clerical error in the administration of this Agreement by either the CEDING COMPANY or BMA, it can be corrected provided the correction takes place promptly after the time the oversight or clerical error is first discovered. In that event, the CEDING COMPANY and BMA will be restored to the position they would have occupied had such oversight or clerical error not occurred.

Appears in 10 contracts

Samples: Novation Agreement (Minnesota Life Variable Life Account), Novation Agreement (Minnesota Life Variable Life Account), Reinsurance Agreement (Utg Inc)

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Oversights. 1. If there is an unintentional oversight or clerical error in the administration of this Agreement by either the CEDING COMPANY or BMA, it can be corrected provided the correction takes place promptly after the time the oversight or clerical error is first discovered. In that event, the CEDING COMPANY and BMA will be restored to the position they would have occupied had such oversight or clerical error not occurred.

Appears in 1 contract

Samples: Reinsurance Agreement (Safeco Separate Account Sl)

Oversights. If there is an unintentional oversight or clerical error in the administration of this Agreement by either the CEDING COMPANY or BMAGENERALI, it can be corrected provided the correction takes place promptly after the time the oversight or clerical error is first discovered. In that event, the CEDING COMPANY and BMA GENERALI will be restored to the position they would have occupied had such oversight or clerical error not occurred.

Appears in 1 contract

Samples: Reinsurance Agreement (Jackson National Separate Account Iv)

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Oversights. If there is an unintentional oversight or clerical error in the administration of this Agreement by either the CEDING COMPANY or BMACOMPANY B, it can be corrected provided the correction takes place promptly after the time the oversight or clerical error is first discovered. In that event, the CEDING COMPANY and BMA COMPANY B will be restored to the position they would have occupied had such oversight or clerical error not occurred.

Appears in 1 contract

Samples: Reinsurance Agreement (Farmers Variable Life Separate Account A)

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