Renewal Policy. Unless you have provided alternate Certificate instructions, your Certificate will automatically renew at the rate current at that time for the same Certificate term. You will have a grace period of seven days after renewal to withdraw the funds without being charged a penalty. Dividends will not be paid on the amount withdrawn during the seven-day grace period. A substantial penalty is imposed if any funds, other than the last dividends paid, are withdrawn from the Certificate prior to the maturity date. If the dividend is not sufficient to cover the penalty, the principal amount will be reduced to cover this amount. The penalties are as follows:
Appears in 7 contracts
Samples: Membership and Account Agreement, Membership and Account Agreement, Membership and Account Agreement
