Withdrawals Before Maturity Sample Clauses

Withdrawals Before Maturity. Withdrawals made within the first 6 calendar days of deposit must be charged a minimum of 7 calendar days’ simple interest on the amount withdrawn. There are penalties for withdrawals of principal before the maturity date of a Certificate of Deposit. On deposits with a term of less than 1 year, the penalty for early withdrawal is equal to 91 calendar days’ interest on the amount withdrawn. On deposits with a term of 1 year or more, the penalty for early withdrawal is 182 calendar days’ interest on the amount withdrawn. (Penalties may differ for Certificates of Deposit that originated at another banking institution. The original terms are grandfathered until the first renewal date following the Eastern Bank acquisition, at which time the terms of this Agreement will apply.) Early withdrawal penalties may be waived for withdrawals requested after the death of the depositor; after the depositor is declared legally incompetent to manage his or her affairs; or, on a Retirement CD, after the depositor has attained the age of fifty- nine and a half (59½) or becomes disabled. Withdrawals of interest posted to the account may be withdrawn without penalty before maturity on CDs with terms equal to or greater than 12 months. However, the annual percentage yield assumes that interest remains on deposit until maturity, so a withdrawal of interest will reduce earnings. CDs with maturities of less than 12 months accrue interest, but it is not paid until maturity. If the withdrawal is made prior to maturity the interest will not be paid.
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Withdrawals Before Maturity. A Certificate of Deposit (“CD”) will be subject to a penalty for a withdrawal of principal before the maturity date, which will be calculated on the principal amount withdrawn at the interest rate in effect on the account on the withdrawal date: • For a CD with a term of less than three months, the early withdrawal penalty will be an amount equal to 30 calendar days of interest on the amount of principal withdrawn; • For a CD with a term that is three months or more and less than 12 months, the penalty will be an amount equal to 91 calendar days of interest on the amount withdrawn; and • For a CD with a term of 12 months or more, the penalty will be an amount equal to 182 calendar days of interest on the amount withdrawn. For a CD that originated at another financial institution, penalties and other terms may differ. The original terms of such CD will apply until the first renewal following the transfer of the CD to the Bank, at which time the terms of this Agreement will apply. Early withdrawal penalties may be waived by the Bank under certain circumstances, including withdrawals requested after the death of a depositor, after a depositor is declared legally incompetent to manage his or her affairs, or, on a retirement CD, after a depositor has attained the age of 59 1/2 or become disabled. For a CD with a term of 12 months or longer, interest will periodically be posted to the account and may be withdrawn without penalty. However, the annual percentage yield assumes that interest remains on deposit until maturity, so a withdrawal of interest will reduce earnings. For a CD with a term of less than 12 months, interest will not be posted to the account until maturity. In that case, if a withdrawal of principal is made before maturity, accrued interest will not be paid until maturity or closure of the CD.
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Related to Withdrawals Before Maturity

  • Final Maturity The Stated Maturity Date for any Note will be the date so specified in the Supplement, which shall be no later than 397 days from the date of issuance. On its Stated Maturity Date, or any date prior to the Stated Maturity Date on which the particular Note becomes due and payable by the declaration of acceleration, each such date being referred to as a Maturity Date, the principal amount of each Note, together with accrued and unpaid interest thereon, will be immediately due and payable.

  • Post-Maturity Rates After the date any principal amount of any Loan is due and payable (whether on the Revolving Commitment Termination Date, upon acceleration or otherwise), or after any other monetary Obligation of the Borrower shall have become due and payable, the Borrower shall pay, but only to the extent permitted by law, interest (after as well as before judgment) on such amounts at a rate per annum equal to the Base Rate plus a margin of 2.00%.

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Final Maturity Date 23 Fitch.........................................................................................23

  • Redemption; Repayment; Acceleration In the event a Discount Note is redeemed, repaid or accelerated, the amount payable to the Holder of such Discount Note will be equal to the sum of: (A) the Issue Price (increased by any accruals of Discount); and (B) any unpaid interest accrued on such Discount Note to the Maturity Date (“Amortized Face Amount”). Unless otherwise specified on the face hereof, for purposes of determining the amount of Discount that has accrued as of any date on which a redemption, repayment or acceleration of maturity occurs for a Discount Note, a Discount will be accrued using a constant yield method. The constant yield will be calculated using a 30-day month, 360-day year convention, a compounding period that, except for the Initial Period (as defined below), corresponds to the shortest period between Interest Payment Dates for the applicable Discount Note (with ratable accruals within a compounding period), a coupon rate equal to the initial coupon rate applicable to the applicable Discount Note and an assumption that the maturity of such Discount Note will not be accelerated. If the period from the date of issue to the first Interest Payment Date for a Discount Note (the “Initial Period”) is shorter than the compounding period for such Discount Note, a proportionate amount of the yield for an entire compounding period will be accrued. If the Initial Period is longer than the compounding period, then the period will be divided into a regular compounding period and a short period with the short period being treated as provided above.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Spread; Spread Multiplier; Index Maturity The “Spread” is the number of basis points (one one-hundredth of a percentage point) specified on the face hereof to be added to or subtracted from the related Interest Rate Basis or Interest Rate Bases applicable to this Note. The “Spread Multiplier” is the percentage specified on the face hereof of the related Interest Rate Basis or Interest Rate Bases applicable to this Note by which the Interest Rate Basis or Interest Rate Bases will be multiplied to determine the applicable interest rate. The “Index Maturity” is the period to maturity of the instrument or obligation with respect to which the related Interest Rate Basis or Interest Rate Bases will be calculated.

  • Maturity Date This Agreement shall continue in effect until the maturity date set forth on the Schedule (the "Maturity Date"), subject to Section 6.3 below.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

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