UTMOST GOOD FAITH definition

UTMOST GOOD FAITH. The performance of obligations by each of the Companies 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.
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Examples of UTMOST GOOD FAITH in a sentence

  • EACH SHAREHoLDER AGREES TO FULLY HOLD HARMLESS AND INDEMNIFY TDI ITS OFFICERS AND AGENTS FOR ANY DISCRETIONARY DECISION WHICH IT SHALL MAKE UNDER THE TERMS AND PROVISIONS OF THIS SECTION AND TDI AGREES TO ACT WITH THE UTMOST GOOD FAITH AND IMPARTIALITY IN APPROVING ANY RELEASES UNDER THIS SECTION, AS LIMITED TO LEGITIMATE EMERGENCIES REQUIRING THE SALE OF SHARES.

  • PROXIMATE CAUSE SUBROGATION INDEMNITY INSURABLE INTEREST INSURABLE INTEREST UTMOST GOOD FAITH UTMOST GOOD FAITH GENERAL INSURANCE LIFE INSURANCE ELEMENTS OF INSURANCE CONTRACT ✓ Offer & Acceptance ✓ Consideration ✓ Competent Parties ✓ Legal Intent ✓ Consensus (same mind / ad idem) The law generally presumes that everyone has the capacity to contract.

  • UTMOST GOOD FAITH & EFFECTS OF NON-DISCLOSURE - A contract of insurance is one of utmost good faith and it is the duty of the proposed assured to make a full disclosure to the insurer without being asked of all material circumstances because the insurer knows nothing and the assured knows everything.

  • RIGHTS IN RESPECT OF FORMATION OR PERFORMANCE OF THIS AGREEMENT; WAIVER OF DOCTRINE OF UTMOST GOOD FAITH Subject only to the following sentence, the Retrocessionaire absolutely and unconditionally waives any and all rights (whether for affirmative recovery or otherwise) or defenses it may have arising out of or otherwise in connection with the formation of this Agreement, including without limitation any rights of rescission and any related defenses.