INTEREST RATE FOR BALANCES IN DEFAULT. When balances are in default, each party reserves the right to charge interest at the Prime Rate plus 2% as stated in the Wall Street Journal as of the date the balances become overdue.
Appears in 4 contracts
Samples: Ceding Company Agreement (Minnesota Life Individual Variable Universal Life Account), Automatic/Facultative (Minnesota Life Individual Variable Universal Life Account), Automatic/Facultative (Minnesota Life Individual Variable Universal Life Account)
