Common use of Fractional Method Clause in Contracts

Fractional Method. The annual installment shall be calculated by multiplying this balance by a fraction, the numerator of which is one, and the denominator of which is the remaining number of annual payments due the Executive. By way of example, if the Executive elects a 10 year Annual Installment Method, the first payment shall be 1/10 of the Account balance. The following year, the payment shall be 1/9 of the Account balance.

Fractional Method. The annual installment shall be calculated by multiplying this balance by a fraction, the numerator of which is one, and the denominator of which is the remaining number of annual payments due the ExecutiveDirector. By way of example, if the Executive Director elects a 10 year Annual Installment Method, the first payment shall be 1/10 of the Account balance. The following year, the payment shall be 1/9 of the Account balance.