Common use of SPECIAL INTEREST RATES Clause in Contracts

SPECIAL INTEREST RATES. Borrower understands and agrees that Association may agree to provide one, or more, incentive interest rates for certain disbursements used for specific purposes. Borrower acknowledges that the requirements and conditions for any disbursements qualifying for any such incentive interest rates are set by Association, and not Lender. Xxxxxxxx further acknowledges receipt of, understands, and agrees to comply with such requirements and conditions. Borrower further acknowledges and agrees that compliance with such requirements and conditions shall be determined by Association, in its sole discretion. Xxxxxxxx understands that all advances made under a Special Interest Rate shall be reflected in a monthly statement provided to Borrower by Xxxxxx, and Xxxxxxxx acknowledges, and agrees that such interest rate is effective as to such advances.

SPECIAL INTEREST RATES. Borrower understands and agrees that Association may agree to provide one, or more, incentive interest rates for certain disbursements used for specific purposes. Borrower acknowledges that the requirements and conditions for any disbursements qualifying for any such incentive interest rates are set by Association, and not Lender. Xxxxxxxx Borrower further acknowledges receipt of, understands, and agrees to comply with such requirements and conditions. Borrower further acknowledges and agrees that compliance with such requirements and conditions shall be determined by Association, in its sole discretion. Xxxxxxxx Borrower understands that all advances made under a Special Interest Rate shall be reflected in a monthly statement provided to Borrower by XxxxxxLender, and Xxxxxxxx Borrower acknowledges, and agrees that such interest rate is effective as to such advances.