TERM CERTIFICATE OF DEPOSIT Sample Clauses

TERM CERTIFICATE OF DEPOSIT. A Term Certificate of Deposit (TCD) is a non- transferrable instrument. With a Term Certificate of Deposit you agree to keep a deposit with the Bank for a specified period of time and the Bank agrees to pay you interest at a pre-agreed rate. Upon opening a TCD, you will receive a Certificate of Deposit indicating; the issue and maturity date (term), the interest rate and the final amount of your deposit at the end of the term. A TCD may at the discretion of the Bank be withdrawn prior to the maturity date but with the condition that you pay an early withdrawal penalty. The amount of the penalty will be set out on the Certificate of Deposit. You agree to give at least 14 days advance notice prior to withdrawal. The early withdrawal penalties have been disclosure below: Term of TCD Early Withdrawal Penalty 3 months No interest 6 Months Loss of 3 months interest 1 year Loss of interest would be calculated up to the nearest valid term 3 or 6 months with no interest paid for the first three months. 18 months Loss of interest would be calculated up to the nearest valid term 3, 6 or 12 months with no interest paid for the first three months.. 2 Years Loss of interest would be calculated up to the nearest valid term 3, 6, 12 or 18 months with no interest paid for the first three months.. Your TCD will automatically renew on its maturity date for a similar term except as otherwise indicated by you before the maturity date. The interest rate paid on a renewal TCD will be the interest rate offered by the Bank to the general public for TCDs of like amounts and terms on the date of renewal. The Customer may avoid automatic renewal of a deposit by giving written instructions to the Bank on or before the maturity date or by closing the TCD on the date of maturity. The Customer may not add funds to a TCD prior to its maturity date. An increase or decrease to the principal sum may only be conducted at maturity. The customer may add interest earned on the principal amount at maturity or deposit interest to another account held with the Bank or request the payment of the interest via a bank draft. The Bank reserves the right to call (i.e. terminate and pay over to the Customer) any automatically renewable TCD at the end of its original term or any renewal term. If called, the TCD will stop earning interest on the effective date of the call.
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Related to TERM CERTIFICATE OF DEPOSIT

  • Certificates of Deposit The purchase price of a certificate of deposit (a “CD”) is treated as its fair market value on the purchase date if (1) the CD has a fixed interest rate, a fixed payment schedule, and a substantial penalty for early withdrawal, (2) the Yield on the CD is not less than the Yield on reasonably comparable direct obligations of the United States, and (3) the Yield is not less than the highest Yield published or posted by the CD issuer to be currently available on reasonably comparable CDs offered to the public.

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  • Initial Deposit On the Closing Date, the Depositor will deposit, or cause to be deposited, the Required Reserve Amount in the Reserve Account according to Section 4.1 of the Exchange Note Sale Agreement.

  • Provisional Certificate 14.3.1 The Independent Engineer may, at the request of the Concessionaire, issue a provisional certificate of completion substantially in the form set forth in Schedule-J (the "Provisional Certificate") if the Tests are successful and the Bus Terminal can be safely and reliably placed in commercial operation though certain works or things forming part thereof are outstanding and not yet complete. In such an event, the Provisional Certificate shall have appended thereto a list of outstanding items signed jointly by the Independent Engineer and the Concessionaire (the "Punch List"); provided that the Independent Engineer shall not withhold the Provisional Certificate for reason of any work remaining incomplete if the delay in completion thereof is attributable to the Authority.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Certificate of Limited Partnership The General Partner has caused the Certificate of Limited Partnership to be filed with the Secretary of State of the State of Delaware as required by the Delaware Act. The General Partner shall use all reasonable efforts to cause to be filed such other certificates or documents that the General Partner determines to be necessary or appropriate for the formation, continuation, qualification and operation of a limited partnership (or a partnership in which the limited partners have limited liability) in the State of Delaware or any other state in which the Partnership may elect to do business or own property. To the extent the General Partner determines such action to be necessary or appropriate, the General Partner shall file amendments to and restatements of the Certificate of Limited Partnership and do all things to maintain the Partnership as a limited partnership (or a partnership or other entity in which the limited partners have limited liability) under the laws of the State of Delaware or of any other state in which the Partnership may elect to do business or own property. Subject to the terms of Section 3.4(a), the General Partner shall not be required, before or after filing, to deliver or mail a copy of the Certificate of Limited Partnership, any qualification document or any amendment thereto to any Limited Partner.

  • NOTICE OF SUPPLEMENTAL ALLOCATION OF FUNDS By the signature below, the City Controller certifies that, upon the request of the Director, the supplemental sum set out below has been allocated for the purposes of the Agreement out of funds appropriated for this purpose by the City Council of the City of Houston. This Supplemental Allocation has been charged to such appropriation. $

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