Utmost Good Faith. All matters with respect to this Agreement require the utmost good faith of each of the parties.
Utmost Good Faith. The parties agree that this Agreement is entered into with the understanding that the principles of utmost good faith traditional to reinsurance shall be adhered to in the formation and performance of this Agreement and shall govern the parties’ rights and obligations. This Agreement is entered into in reliance of the utmost good faith of the parties including, for example, their warranties, representations and disclosures.
Utmost Good Faith. The contract of insurance evidenced by this Policy is a contract of utmost good faith between the Insurer and the Insured, and in accordance with this principle, the Insured confirms that before the contract of insurance was concluded the Insured and its agents had fully disclosed and truly represented to the Insurer all material facts and circumstances which might influence the Insurer to fix the Premium or to agree to subscribe to the Policy. In particular (but without prejudice to the generality of the obligation), the Insured confirms that as at the date of the conclusion of the contract neither it nor its agents had any information of any fact or circumstance which could give rise to or increase the likelihood of a Loss under this Policy. Should the Insured and its agents have failed to disclose or truly represent all material facts and circumstances, the Insurer shall be entitled upon notice to the Insured to treat the Policy as void as from the date upon which the contract of insurance was concluded, and (unless fraud is involved in the non-disclosure or misrepresentation) tender return of any premium paid. Prior to any variation or any amendment to the terms of the Policy the Insured and their agents shall again fully disclose and truly represent to the Insurer all facts and circumstances that may influence the Insurer in their agreement to the variation or amendment. In the event of a breach by the Insured or its agents of these duties, the Insurer shall be entitled to treat any variation or amendment agreed as void.
Utmost Good Faith. This Agreement is governed by the principle of utmost good faith and was concluded on mutual trust leading the relationship between the Parties hereto as well as of usual insurance and reinsurance practice in terms of prudent and reasonable underwriting, claims assessment and administration.
Utmost Good Faith. Both parties promise "utmost good faith" and each is under the affirmative duty to report any adverse information with respect to its solvency or with respect to the particular facts which relate to the Reinsured Policies.
Utmost Good Faith. The Provider shall act with the utmost good faith in all of the Provider's dealings with RQ.
Utmost Good Faith. The performance of obligations by each of the Cedents on the one hand, and the Reinsurer on the other hand, arising under or related to this Agreement shall be in accordance with utmost good faith and fair dealing.
Utmost Good Faith. All matters with respect to this Agreement require the utmost good faith of both parties. Each party represents and warrants to the other party that it is solvent on a statutory basis in all states in which it does business or is licensed. Each party will promptly notify the other if it is subsequently financially impaired.
Utmost Good Faith. This Contract is entered into with the expectation that it correctly, adequately and appropriately describes the intent and agreement of the parties. The principles of honorable engagement and utmost good faith, traditional to reinsurance, will be adhered to in the performance of this Contract, will govern the parties' rights and obligations under the Contract, and will be the fundamental basis for resolving any dispute that may arise between the parties.
Utmost Good Faith. Without limiting the generality of the aforesaid, the parties undertake in favor of one another to observe the utmost good faith in the implementation of the provisions of this MoU and each party hereby undertakes in favor of the other party that in their dealings, with each other, it shall neither do anything nor refrain from doing anything which might prejudice or detract from the rights, assets or interests of the other party.
