Errors and Oversights. If any party to this Agreement fails to comply with any of the Agreement provisions because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. All parties will be restored to the position they would have occupied had no such oversight nor misunderstanding occurred.
Appears in 3 contracts
Sources: Reinsurance Treaty (Ausa Series Life Account), Automatic Pool Reinsurance Agreement (Global Preferred Holdings Inc), Automatic Pool Reinsurance Agreement (Global Preferred Holdings Inc)
Errors and Oversights. Each party to this Agreement will act reasonably in all matters within the terms of this Agreement. If any party either of the parties to this Agreement fails to comply with any of the provisions of this Agreement provisions because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. All Both parties will be restored to the position they would have occupied had no such oversight nor or misunderstanding occurred, and such oversight or misunderstanding will be rectified promptly on an equitable basis.
Appears in 3 contracts
Sources: Accident and Health Coinsurance Agreement (Hanover Insurance Group, Inc.), Coinsurance Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co), Core Coinsurance Agreement (Vel Ii Acct of State Mutual Life Assur Co of America)
Errors and Oversights. If any either party to this Agreement fails to comply with any of the provisions of this Agreement provisions because of an unintentional oversight clerical errors, oversights or misunderstandingmisunderstandings in the administration of this Agreement, the underlying status of this Agreement will not be changed. All The parties will be restored at the earliest possible date to the position they would have occupied had no such clerical error, oversight nor or misunderstanding occurred.
Appears in 3 contracts
Sources: Pool Reinsurance Agreement (PHL Variable Accumulation Account), Pool Reinsurance Agreement (Nassau Life Variable Universal Life Account), Pool Reinsurance Agreement (Nassau Life Variable Accumulation Account)
Errors and Oversights. If any either party to this Agreement fails to comply with any of the provisions of this Agreement provisions because of an unintentional oversight or misunderstanding, the underlying status of this Agreement will not be changed. All The parties will be restored to the position they would have occupied had no such oversight nor misunderstanding occurred.
Appears in 2 contracts
Sources: Automatic Coinsurance Agreement (Nassau Life Variable Universal Life Account), Automatic Coinsurance Agreement (PHL Variable Accumulation Account)
Errors and Oversights. If any either party to this Agreement fails to comply with any of the provisions of this Agreement provisions because of an unintentional oversight or misunderstandingmisunderstanding relating to clerical errors in the administration of this Agreement, the underlying status of this Agreement will not be changed. All The parties will be restored to the position they would have occupied had no such oversight nor misunderstanding occurred.
Appears in 1 contract
Sources: Automatic Yrt Reinsurance Agreement (Phlvic Variable Universal Life Account)
Errors and Oversights. If any either party to this Agreement fails to comply with any of the provisions of this Agreement provisions because of an unintentional oversight or misunderstandingmisunderstanding in the administration of this Agreement, the underlying status of this Agreement will not be changed. All The parties will be restored to the position they would have occupied had no such oversight nor misunderstanding occurred.
Appears in 1 contract
Sources: Reinsurance Agreement (Phlvic Variable Universal Life Account)