Error and Oversight Sample Clauses

Error and Oversight. If, unintentionally and through error or oversight, either the Pool or the Ceding Company fails to comply with terms of this Agreement, and if, upon discovery by one of such failure the other is immediately notified, then the duties and responsibilities of both the Pool and the Ceding Company shall be as if each had complied with the terms of this Agreement, subject always to correction of the error or oversight.
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Error and Oversight. 11.1 If, through unintentional error, oversight, omission, or misunderstanding (collectively referred to as "errors"), Pool Reinsurer or NML fails to comply with the terms of this Agreement and if, upon discovery of the error by either party, the other is promptly notified, each will be restored to the position it would have occupied if the error had not occurred, including the effect of the time value of money, using the 13-week U.S. Treasury Xxxx rate or such other rate to which the parties may agree.
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Error and Oversight. 5.1 If, through unintentional error, oversight, omission, or misunderstanding (collectively referred to as “errors”), Reinsurer or NML fails to comply with the terms of this Agreement and if, upon discovery of the error by either party, the other is promptly notified, each will be restored to the position it would have occupied if the error had not occurred, including the effect of the time value of money, using the 13-week U.S. Treasury Bill rate or such other rate to which the parties may agree.
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Error and Oversight. 12.1 If through error, oversight, or misunderstanding either Reinsurer or Northwestern Mutual fails to comply with the terms of this Agreement and if, upon discovery of the error, oversight, or misunderstanding by either Northwestern Mutual or Reinsurer, the other party is immediately notified, each will be restored to the position it would have occupied had no such error, oversight, or misunderstanding occurred. In the event that a party cannot as a practical matter be restored to the position it would have occupied but for the error, oversight, or misunderstanding, Northwestern Mutual and Reinsurer will endeavor in good faith, utilizing best efforts, to fashion a resolution to the situation created by the error, oversight, or misunderstanding that is fair and reasonable and most closely approximates the original intent of the parties as evidenced by this Agreement.
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Error and Oversight. 5.1 If, through unintentional error, oversight, omission, or misunderstanding (collectively referred to as “errors”), Reinsurer or NML fails to comply with the terms of this Agreement and if, upon discovery of the error by either party, the other is promptly notified, each will be restored to the position it would have occupied if the error had not occurred, including the effect of the time value of money, using the 13-week U.S. Treasury Bill rate or such other rate to which the parties may agree. NML and the Reinsurer agree that all errors will be identified and corrected in an equitable manner at the earliest possible date. This provision shall apply only to errors relating to the administration of reinsurance covered by this Agreement and not to the administration of the insurance provided by NML to its insured.
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Related to Error and Oversight

  • Supervision and Oversight The Contractor shall be solely responsible for providing supervision and oversight to all the Contractor’s personnel that are assigned to the Agency properties pursuant to this contract.

  • Oversights If failure to pay any premium due or to perform any other act required by this Agreement is unintentional and is caused by misunderstanding or oversight, the Reinsured and the Reinsurer will adjust the situation to what it would have been had the misunderstanding or oversight not occurred.

  • Project Oversight Inspection and acceptance of the Work shall be performed by Xxxxxx Xxxxxx, Construction Manager of the Planning, Development & Facilities Department of the District. The architect for the Project is not applicable to this project, and the Project Manager on the Project is Xxxxxx Xxxxxx, (“Project Manager”)

  • Delegation and Operation OF TOP–LEVEL DOMAIN; REPRESENTATIONS AND WARRANTIES

  • Oversight The Licensing Officer shall oversee the quality of the services provided by the Licensee and the reasonableness of the prices charged. The Licensing Officer may advise the Licensee from time to time of any source of dissatisfaction and request correction.

  • Variation and Operation Pursuant to and subject to clause 5 of the State Agreement the parties agree to amend the State Agreement in the manner set out in this Agreement.

  • Board Oversight 1. Within 60 days of this Agreement, the board of directors of the Bank shall submit to the Reserve Bank a written plan to strengthen board oversight of the management and operations of the Bank. The plan shall, at a minimum, address, consider, and include:

  • Business and Operations Borrower will continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Property. Borrower will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the Property.

  • Uncontrollable Forces Tariff Provisions Section 14.1 of the CAISO Tariff shall be incorporated by reference into this Agreement except that all references in Section 14.1 of the CAISO Tariff to Market Participants shall be read as a reference to the Participating Generator and references to the CAISO Tariff shall be read as references to this Agreement.

  • Maintenance and Operation Member-Generator agrees to maintain their system and facilities in accordance with applicable manufacturer's recommended maintenance schedule and standard prudent engineering practices. Member-Generator covenants and agrees to operate their system, facilities and equipment so as to minimize the likelihood for a malfunction or other disturbance, damaging or otherwise affecting or impairing Cooperative’s electrical system. Member-Generator shall comply with all applicable laws, regulations, zoning, building codes, safety rules and other environmental regulations or restrictions applicable to the design, installation, operation and maintenance of the Member-Generator's System. Member-Generator must, at least once every year, conduct a test to confirm that Member-Generator’s System automatically ceases to energize the output (interconnection equipment output voltage goes to zero) within two (2) seconds of being disconnected from Cooperative’s electrical system. Disconnecting the Member-Generator’s System from Cooperative’s electrical system at the visible disconnect switch and measuring the time required for the unit to cease to energize the output shall satisfy this test. Member-Generator shall maintain a record of the results of these tests and, upon request by Cooperative, shall provide a copy of the test results to Cooperative. If Member-Generator is unable to provide a copy of the test results upon request, Cooperative shall notify Member- Generator by mail that Member-Generator has thirty (30) days from the date Member-Generator receives the request to provide Cooperative with the results of a test. If Member-Generator does not provide Cooperative with the test results within the thirty (30) day time period or if the test results provided to Cooperative show that Member-Generator’s net metering unit is not functioning correctly, Cooperative may immediately disconnect Member-Generator’s System from Cooperative’s electrical system. If Member-Generator’s equipment ever fails this test, Member-Generator shall immediately disconnect Member-Generator’s System from Cooperative's electrical system. Member-Generator’s System shall not be reconnected to Cooperative's electrical system by the Member-Generator until Member-Generator’s System is repaired and operating in a normal and safe manner. Cooperative shall have the right to have a representative present and informed when any such tests are conducted. Cooperative does not warrant the testing procedures or results by the presence of its representative. Member-Generator is responsible for protecting their equipment from transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits, and from any other causes or events. Therefore, Cooperative shall not be responsible for damage to Member-Generator’s equipment allegedly caused by transient high voltage spikes caused by lightning and/or transient low voltage conditions caused by faults or short circuits or other causes or events. Member-Generator agrees to notify Cooperative no less than thirty (30) days prior to modification of the components or design of the Member-Generator’s System that in any way may degrade or significantly alter the System’s output characteristics. Member-Generator acknowledges that any such modifications will require submission of a new Application and Agreement to Cooperative.

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