flat payment definition
flat payment opportunity applies when the Amount Financed for the Eligible Upgrade (as defined below) equals a percentage of the Original Amount Financed (as defined below) as follows: Initial Lease Term Percent of Original Amount Financed 36 months 30% 48 months 21% 60 months 15% If the Amount Financed for the Eligible Upgrade is higher or lower than the above percentage, the "flat payment" financing rate will apply and the Payment Amount for the Eligible Upgrade will be calculated by multiplying this rate by the Amount Financed for the Eligible Upgrade. This upgrade option, if exercised, results in a 12 month extension of the Transaction for the Eligible Machine (the "Extension Period"). The Transaction for the Eligible Upgrade will be coterminous with the Eligible Machine extension. -------------------------------------------------------------------------------- NO CHANGES TO THIS ATTACHMENT ARE AUTHORIZED June 6, 1996 Attachment No. ▇▇▇▇▇▇▇▇▇-01 1 ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ IBM Credit Corporation (▇▇▇) ▇▇▇-▇▇▇▇ --------------------------------------------------------------------------------