Common use of Crediting of Interest Clause in Contracts

Crediting of Interest. As of the last day of each Plan Year, each Deferred Account to which Compensation has been credited in dollar amounts shall be increased by the amount of interest earned during the Plan Year. Interest shall be credited at the Rate of Return as of the last day of the Plan Year based on the average daily balance of the Participant's Deferred Account since the beginning of the Plan Year, but after the Deferred Account has been adjusted for any contributions or distributions to be credited or deducted for such period. Until a Participant or his or her Beneficiary receives his or her entire Deferred Account, the unpaid balance thereof credited in dollar amounts shall bear interest as provided in this Section 5.2.

Crediting of Interest. As of the last day of each Plan Year, each Deferred Account to which Compensation has been credited in dollar amounts shall be increased by the amount of interest earned during the Plan Year. Interest shall be credited at the Rate of Return as of the last day of the Plan Year based on the average daily balance of the Participant's Deferred Account since the beginning of the Plan Year, but after the Deferred Account has been adjusted for any contributions or distributions to be credited or deducted for such period. Until a Participant or his or her Beneficiary receives his or her the Participant's entire Deferred Account, the unpaid balance thereof credited in dollar amounts shall bear interest as provided in this Section 5.2.