Errors and Omissions definition

Errors and Omissions. Should any items be inadvertently omitted from or entered in error on a reinsurance report, such omissions or errors will not affect the liability of the Reinsurer in regard to any Reinsured Policy. The mistakes will be rectified upon discovery. This does not waive any rights outlined in Article 10.
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Errors and Omissions. Any inadvertent delay, omission, or error shall not be held to relieve either party hereto from any liability which would attach to it hereunder if such delay, omission or error had not been made, providing such omission or error is rectified upon discovery.
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Errors and Omissions means design defects or deficiencies in the plans, specifications or other documents prepared by the Consultant, which must be corrected in order for the project to function or be built as intended.
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Examples of Errors and Omissions in a sentence

  • Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby.

  • Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby.

  • The Company shall maintain the Fidelity Bond and Errors and Omissions Insurance Policy as provided for in Section 4.12 insuring the Company against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.

  • No provision of this Section 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Company from its duties and obligations as set forth in this Agreement.

  • Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees.

  • Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Company Employees.

  • The Servicer shall keep in force during the term of this Agreement a Fidelity Bond and Errors and Omissions Insurance Policy.

  • The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”).

  • Errors and Omissions liability with minimum liability limits of $1,000,000 per claim and in the aggregate.

  • The Master Servicer shall supervise, monitor and oversee the servicing of the Mortgage Loans by each Servicer and the performance by each Servicer of all services, duties, responsibilities and obligations (including the obligation to maintain an Errors and Omissions Policy and Fidelity Bond) that are to be observed or performed by the Servicer under its respective Servicing Agreement.


More Definitions of Errors and Omissions

Errors and Omissions means a mistake, oversight, miscalculation or clerical error, which occurs as an unintentional exception to the standard practice or procedure of the insured.
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Errors and Omissions means design deficiencies in the plans, specification or other documents prepa red by the Consultant, which must be corrected in order for the project to function or be built as intended.
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Errors and Omissions. The Board of Education shall provide the Superintendent with the same insurance coverage for errors and omissions as is applicable to members of the Board of Education.
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Errors and Omissions means any error, omission, or negligent act of the Insured which results in the work performed by the Insured failing to meet the “written specifications” provided by the party for whom work was performed, after such work has been installed, tested and accepted by that party. Work performed by a subcontractor on behalf of the Insured is included in this definition.
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Related to Errors and Omissions

  • Errors and Omissions Policy As defined in each of the Servicing Agreements.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts: