Oversights. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred.
Appears in 6 contracts
Samples: Reinsurance Agreement (New York Life Ins & Annuity Corp Var Univ Life Sep Acc I), Reinsurance Agreement (Separate Account Vul 2 of Transamerica Occidental Life Ins), Reinsurance Agreement (New York Life Ins & Annuity Corp Var Univ Life Sep Acc I)
Oversights. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred. Interest at a rate to be determined annually will be payable on any amounts due to either party as a result of the oversight or misunderstanding.
Appears in 3 contracts
Samples: Annuity Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities), Annuity Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities), Automatic Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities)
Oversights. 1. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred. Interest at a rate to be determined annually will be payable on any premiums or allowances due as a result of the oversight or misunderstanding.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
Oversights. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred. Interest at a rate of 6% annually will be payable on any amounts due to either party as a result of the oversight or misunderstanding.
Appears in 2 contracts
Samples: Annuity Reinsurance Agreement (ALAC Separate Account 1), Il Annuity & Insurance Co Separate Account 1
Oversights. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred. Interest at a rate to be determined annually will be payable on any premiums or allowances due as a result of the oversight or misunderstanding.
Appears in 1 contract
Samples: Reinsurance Agreement (North American Security Life Insurance Co)
Oversights. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurredoccured. Interest at a rate to be determined annually will be payable on any amounts due to either party as a result of the oversight or misunderstanding.
Appears in 1 contract
Samples: Annuity Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities)
Oversights. 1. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred. Interest at a rate to be determined annually will be payable on any premiums due as a result of the oversight or misunderstanding.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co)
Oversights. 1. If there is an unintentional oversight or misunderstanding in the administration of this Agreement by either company, it can be corrected provided the correction takes place promptly after the time the oversight or misunderstanding is first discovered. Both companies will be restored to the position they would have occupied had the oversight or misunderstanding not occurred.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (JPF Separate Account a of Jefferson Pilot Financial Ins Co)
