Collections from Customers. BNYM will be responsible for debiting the Customer’s Concierge Account, and otherwise collecting from each Customer, amounts that BNYM properly charges against the Clearing Account; however, for clarification, Phoenix’s wire payment obligation under Section 5.2 is not mitigated or conditioned to any extent by this Section 5.2.
Appears in 2 contracts
Sources: Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Universal Life Account), Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Accumulation Account)