Common use of Loan Payment Hierarchy Clause in Contracts

Loan Payment Hierarchy. Loan principal payments shall be credited to the Participant's Accounts in the inverse of the order used to fund the loan. Loan interest shall be credited to the Participant's Accounts in direct proportion to the principal payment. Loan payments are credited to the Investment Funds based upon the Participant's current investment election for new Contributions.

Loan Payment Hierarchy. Loan principal payments shall be credited to the Participant's Accounts in the inverse of the order used to fund the loan. Loan interest shall be credited to the Participant's Accounts in direct proportion to the principal payment. Loan payments credited to Accounts for which the Participant directs investment as described in Section 7 are credited to the Investment Funds based upon the Participant's current investment election for new Contributions. Loan payments credited to Accounts for which the Participant does not direct investment as described in Section 7 are credited to the Investment Funds specified by the Administrator for such Accounts.

Loan Payment Hierarchy. Loan principal payments shall be credited to the Participant's Accounts in the inverse of the order used to fund the loan. Loan interest shall be credited to the Participant's Accounts in direct proportion to the principal payment. Loan payments are credited to the Investment Funds based upon the Participant's current investment election for new Contributions.principal

Loan Payment Hierarchy. Loan principal payments shall be credited to the Participant's ’s Accounts in the inverse of the same order used to fund the loan. Loan interest shall be credited to the Participant's ’s Accounts in direct proportion to the principal payment. Loan payments are credited to the Investment Funds based upon the Participant's ’s current investment election for new Contributions.