Common use of Reliance on Records; Correction of Errors Clause in Contracts

Reliance on Records; Correction of Errors. Until the Expected Data Finalization Date, Prudential will receive from the Plan or its agent the information which Prudential may reasonably require for the administration of this Contract. If Prudential does not receive all such information, Prudential will seek such information from the relevant Covered Life, Contingent Life or Beneficiary. Prudential may hold Annuity Payments if it lacks the information necessary to process such Annuity Payment or if processing such payment is contrary to applicable law. Prudential will maintain the records necessary for its administration of this Contract. Such records will be prepared using the information furnished to it pursuant to this Contract and will constitute prima facie evidence as to the truth of the information recorded thereon. However, Prudential reserves the right to correct its records to eliminate erroneous information furnished to it and to reflect information it gathers reasonably believed by it to be reliable. Prudential may assume the accuracy of the records kept by or on behalf of the Plan in connection with Covered Lives, Contingent Lives and Beneficiaries. Any payment made by Prudential in reliance on such records shall be a valid discharge of its obligation under this Contract.

Appears in 3 contracts

Samples: Definitive Transaction Framework Agreement (General Motors Co), Transaction Framework Agreement (General Motors Co), Definitive Transaction Framework Agreement (General Motors Co)

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Reliance on Records; Correction of Errors. Until the Expected Data Finalization Date, Prudential Contract-Holder will receive from the Plan or its agent the furnish all information which Prudential may reasonably require for the administration of this Contract. If Prudential does Contract-Holder cannot receive all such furnish any required item of information, Prudential will seek such information from may (but is not required to) ask the relevant Covered Life, Contingent Life or BeneficiaryBeneficiary to provide such information. Prudential may hold will not be obligated to make Annuity Payments if in any way dependent upon such information unless and until it lacks the receives all information necessary to process such Annuity Payment or if processing such payment is contrary to applicable lawfulfill its obligation. Prudential will maintain the records necessary for its administration of this Contract. Such records will be prepared using the information furnished to it pursuant to this Contract and will constitute prima facie evidence as to the truth of the information recorded thereon. However, Prudential reserves the right to correct its records to eliminate erroneous information furnished to it and to reflect information it gathers reasonably believed by it to be reliable. Prudential may assume the accuracy of the Contract-Holder’s records kept by or on behalf of the Plan in connection with Covered Lives, Contingent Lives and Beneficiaries. Any payment made by Prudential in reliance on such records shall be a valid discharge of its obligation under this Contract.

Appears in 1 contract

Samples: Commitment Agreement (International Paper Co /New/)

Reliance on Records; Correction of Errors. Until the Expected Data Finalization Date, Prudential will receive from the Plan or its agent the be furnished with all information which Prudential may reasonably require for the administration of this Contract. If Prudential does not receive all such informationFurthermore, Prudential will seek such information from the relevant may at any time request any Covered Life, Contingent Life or BeneficiaryBeneficiary to provide any such information not [***] Confidential Treatment Requested Confidential portion omitted and filed separately with the Commission previously supplied. Following the Data Finalization Date, Prudential may hold will not be obligated to make Annuity Payments if in any way dependent upon such information unless and until it lacks the receives all information reasonably necessary to process such Annuity Payment or if processing such payment is contrary to applicable lawfulfill its obligation. Prudential will maintain the records necessary for its administration of this Contract. Such records will be prepared using the information furnished to it pursuant to this Contract and will constitute prima facie evidence as to the truth of the information recorded thereon. However, Prudential reserves the right to correct its records to eliminate erroneous information furnished to it and to reflect information it gathers reasonably believed by it to be reliable. Prudential may assume the accuracy of information furnished to Prudential under this Contract on or before the records kept by or on behalf of the Plan Data Finalization Date in connection with Covered Lives, Contingent Lives and Beneficiaries. It is understood that Prudential may also rely on the accuracy of information furnished to Prudential by Covered Lives, Contingent Lives and Beneficiaries after the Data Finalization Date. Any payment made by Prudential in reliance on such records or information shall be a valid discharge of its obligation under this Contract.

Appears in 1 contract

Samples: Purchase Agreement (Motorola Solutions, Inc.)

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Reliance on Records; Correction of Errors. Until the Expected Data Finalization Date, Prudential Contract-Holder will receive from the Plan or its agent the furnish all information which Prudential may reasonably require for the administration of this Contract. If Prudential does Contract-Holder/Employer cannot receive all such furnish any required item of information, Prudential will seek such information from may (but is not required to) ask, after consummation of a Buy-Out Conversion, the relevant Covered Life, Contingent Life or BeneficiaryBeneficiary to provide such information. Prudential may hold will not be obligated to make Annuity Payments if in any way dependent upon such information unless and until it lacks the receives all information necessary to process such Annuity Payment or if processing such payment is contrary to applicable lawfulfill its obligation. Prudential will maintain the records necessary for its administration of this Contract. Such records will be prepared using the information furnished to it pursuant to this Contract and will constitute prima facie evidence as to the truth of the information recorded thereon. However, Prudential reserves the right to correct its records to eliminate erroneous information furnished to it and to reflect information it gathers reasonably believed by it to be reliable. Prudential may assume the accuracy of the Contract- Holder’s records kept by or on behalf of the Plan in connection with Covered Lives, Contingent Lives and Beneficiaries. Any payment made by Prudential in reliance on such records shall be a valid discharge of its obligation under this Contract.

Appears in 1 contract

Samples: Commitment Agreement (Peabody Energy Corp)

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