Misunderstandings and Oversights. If any failure to pay amounts due or to perform any other act required of either party under this Agreement is shown to be unintentional and caused by misunderstanding, oversight or clerical error, then this Agreement shall not be deemed in breach thereby, provided, that such failure is promptly corrected by the party that caused such failure, which correction restores the other party to the position it would have occupied (including provision for the time value of money) had the misunderstanding, oversight or clerical error not occurred.
Appears in 8 contracts
Samples: Indemnity Reinsurance Agreement (Universal American Corp.), Indemnity Reinsurance Agreement (Universal American Corp.), Indemnity Reinsurance Agreement (Universal American Corp.)
Misunderstandings and Oversights. If any failure to pay amounts due or to perform any other act required of either party under this Agreement is shown to be unintentional and caused by misunderstanding, oversight or clerical error, then this Agreement shall not be deemed in breach thereby, provided, that but such failure is promptly error shall be corrected by the party that caused such failure, which correction restores the other party restoring both parties to the position it positions they would have occupied (including provision for the time value of money) had the misunderstanding, oversight or clerical error not occurred.
Appears in 3 contracts
Samples: Coinsurance Agreement (HealthMarkets, Inc.), Coinsurance Reinsurance Agreement (Citizens Inc), Coinsurance Reinsurance Agreement (Citizens Inc)
Misunderstandings and Oversights. If any failure to pay amounts due or to perform any other act required of either party under by this Agreement is shown to be unintentional and caused by misunderstanding, oversight or clerical error, then this Agreement shall not be deemed in breach thereby, provided, that but such failure is promptly error shall be corrected by the party that caused such failure, which correction restores the other party restoring both parties to the position it positions they would have occupied (including provision for the time value of money) had the misunderstanding, oversight or clerical error not occurred.
Appears in 2 contracts
Samples: Coinsurance Reinsurance Agreement (Citizens Inc), Coinsurance Reinsurance Agreement (Citizens Inc)
Misunderstandings and Oversights. If any failure to pay amounts due or to perform any other act required of either party under this Agreement is shown to be unintentional and caused by misunderstanding, oversight or clerical error, then this Agreement shall not be deemed in breach thereby, provided, that but such failure is promptly error shall be corrected by the party that caused such failure, which correction restores the other party restoring both parties to the position it positions they would have occupied (including provision for the time value of money) had the misunderstanding, oversight or clerical error not occurred.. Coinsurance Agreement
Appears in 1 contract
Misunderstandings and Oversights. If any failure to pay amounts due or to perform any other act required of either party under by this Agreement is shown to be unintentional and caused by misunderstanding, oversight or clerical error, then this Agreement shall not be deemed in breach thereby, provided, that but such failure is promptly error shall be corrected by the party that caused such failure, which correction restores the other party restoring both parties to the position it positions they would have occupied (including provision for the time value of money) had the misunderstanding, oversight or clerical error not occurred.
Appears in 1 contract
Samples: Assumption Reinsurance Agreement (Security National Financial Corp)
