The below works:
=IF(OR(I10>H10,I11>H11,I12>H12,I13>H13,I14>H14)," Discount Given is greater then Max. Discount",
IF(OR(C3={"B","W"}),"Discount can be UP to 7.5 %",
IF(OR(C3={"L","N"}),"Disc. Max. 3%/Midwest only - up to 7.5 %",
IF(OR(C3={"D","V","X","SR"}),"ENTER xx for MAX...