Common use of Amount of Penalty Clause in Contracts

Amount of Penalty. The penalty is based on the term of the certificate. For certificates of 12 months or less, the penalty is equal to 90 days’ dividends on the amount withdrawn. For certificates with terms longer than 12 months, the penalty will equal 180 days’ dividends on the amount withdrawn.

Appears in 5 contracts

Samples: Account Agreement, Account Agreement, Account Agreement

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