Common use of Undercharges Clause in Contracts

Undercharges. If, as a result of an internal audit of its charges to Customer, Liberty determines that it has undercharged Customer, Liberty may provide Customer with an invoice in respect of such amount. Any such invoice shall include the information specified in Section 9.04 and evidence that the amount was not charged to Customer previously. Upon receipt of this information and evidence, Customer shall pay the amount of the undercharge according to Section 9.04 unless disputed in good faith.

Appears in 2 contracts

Sources: Insurance Administrative Services Agreement (Bma Variable Annuity Account A), Insurance Administrative Services Agreement (Bma Variable Life Account A)

Undercharges. If, as a result of an internal audit of its charges to Customer, Liberty determines that it has undercharged Customer, Liberty may provide Customer with an invoice a billing statement in respect of such amount. Any such invoice billing statement shall include the information specified in Section 9.04 6.5 and evidence that the amount was not charged to Customer previously. Upon receipt of this information and evidence, Customer shall pay the amount of the undercharge according to Section 9.04 6.5, unless disputed in good faith.

Appears in 1 contract

Sources: Insurance Administrative Services Agreement (Merrill Lynch Life Insurance Co)