Services and Performance Standards. 2.01 USA shall perform the Services provided for in Schedule B in accordance with performance standards set forth in Schedule B or incorporated by reference therein ("Performance Standards"). Whenever Client has not established a standard, USA agreed to follow generally accepted customer and standards accepted in the insurance industry in performing such services. 2.02 If at any time USA's performance of Services is not in compliance with the Performance Standards, USA shall use its best efforts to take necessary curative actions to bring its performance into compliance within thirty (30) days of Client giving USA written notice of USA's non-compliance. 2.03 When Client determines that either the Services or Performance Standards needs modification in response to any Federal or state law or regulation, it shall inform USA of the change in such law or regulation, and the parties shall seek to come to a mutually agreeable modification of this Agreement in response to same. Client shall be responsible for any increased costs associated with such modification. Such costs will be mutually agreed to, in writing, by the parties. 2.04 USA shall have the right, at any time, and from time to time, to alter and modify the Administration Functions and any systems, programs, procedures or facilities used or employed in performing its duties and obligations hereunder, provided that no such alteration or modification that materially adversely affects the Services Client receives under this Agreement will be implemented without USA first obtaining Client's consent, which shall not be unreasonably withheld. "Materially" means, without limitation, any departure or deviation from (a) the Performance Standards set forth in Schedule B or the standards set forth in this Agreement or (b) any applicable laws, rules and regulations.
Appears in 1 contract
Sources: Services Agreement (Il Annuity & Insurance Co Separate Account 1)
Services and Performance Standards. 2.01 USA shall perform the Services provided for in Schedule B in accordance with performance standards set forth in Schedule B or incorporated by reference therein ("Performance Standards"). Whenever Client has not established a standard, USA agreed agrees to follow generally accepted customer customs and standards accepted in the insurance industry in performing such services.
2.02 If at any time USA's performance of Services is not in compliance with the Performance Standards, USA shall use its best efforts to take necessary curative actions to bring its performance into compliance within thirty (30) days of Client giving USA written notice of USA's non-compliance.
2.03 When Client determines that either the Services or Performance Standards needs modification in response to any Federal or state law or regulation, it shall inform USA of the change in such law or regulation, and the parties shall seek to come to a mutually agreeable modification of this Agreement in response to same. Client shall be responsible for any increased costs associated with such modification. Such costs will be mutually agreed to, in writing, by the parties.
2.04 USA shall have the right, at any time, and from time to time, to alter and modify the Administration Functions and any systems, programs, procedures or facilities used or employed in performing its duties and obligations hereunder, provided that no such alteration or modification that materially adversely affects the Services Client receives under this Agreement will be implemented without USA first obtaining Client's prior written consent, which shall not be unreasonably withheld. "Materially" means, without limitation, any departure or deviation from (a) the Performance Standards set forth in Schedule B or the standards set forth in this Agreement or (b) any applicable laws, rules and regulations.
Appears in 1 contract
Sources: Third Party Administration Agreement (Bankers Life Insurance Co of New York Separate Account I)