Common use of Early Withdrawals Clause in Contracts

Early Withdrawals. In our discretion, we may permit you to withdraw principal funds from the CD account at times other than the Grace Period. Each time we permit a withdrawal of principal funds outside of the Grace Period, we may apply an early withdrawal penalty, as shown in the Account and Service Fee Schedule. We generally withdraw interest before principal funds to pay the early withdrawal penalty. We may waive an early withdrawal penalty, as permitted by law. If a withdrawal, including the penalty, will reduce the account below the required minimum balance, we may treat the withdrawal request as a request to close the account.