Monthly Increment definition
Monthly Increment means, with respect to the end of any calendar month, an amount equal to 0.490196% of the Remaining Original Principal Amount of the Note as of such date, rounded to the nearest whole dollar amount.
Examples of Monthly Increment in a sentence
Beginning Year: Total Monthly Increment Eight (8) $60 Thirteen (13) $140 Eighteen (18) $240 Twenty-three (23) $360 As of January 1, 2001, those employees who have earned Longevity Increments under a previous longevity program, will have the actual dollar amount frozen and will continue to receive the actual dollar value of the increment(s).