Common use of Default Percentage Clause in Contracts

Default Percentage. (Check one of the options below and insert a percentage or percentages and, if applicable, a date.) The Default Percentage is %. The initial Default Percentage is % and will increase by one percentage point until the Default Percentage is %. (Insert the highest default percentage that will apply.) Each increase will be effective at the beginning of the Plan Year unless a different date is inserted here: . (Insert the date of each annual increase.)

Default Percentage. (Check one of the options below and insert a percentage or percentages and, if applicable, a date.) The Default Percentage is %. The initial Default Percentage is % and will increase by one percentage point as described in Section 3.01(d)(2) of the Plan until the Default Percentage is %. (Insert the highest default percentage that will apply.) Each increase will be effective at the beginning of the Plan Year unless a different date is inserted here: . (Insert the date of each annual increase.)

Default Percentage. (Check one of the options below and insert a percentage or percentages and, if applicable, a date.) The Default Percentage is %. The initial Default Percentage is % and will increase by one percentage point as described in Section 4.08(a)(2) of the Plan until the Default Percentage is %. (Insert the highest default percentage that will apply.) Each increase will be effective at the beginning of the Plan Year unless a different date is inserted here: . (Insert the date of each annual increase.)