Escalating Default Percentage Sample Clauses

Escalating Default Percentage. The initial Default Percentage shall be 2% and shall increase by 1% at the time described below until the Default Percentage is 5% (enter highest Default Percentage that will apply). Increases shall occur: (choose one of the following) x(I)As of the first day of each Plan Year o(II)Other:​ ​ ​ ​​ ​ ​​