Time Deposit Account a. A minimum initial deposit as determined by the Bank is required.
Time Deposit Account. This Account allows you to make a one-time deposit of principal by ACH Transfer, wire transfer, or transfer from another Account at the Bank at Account opening or during the renewal grace period. A TD Account may be opened for various specified time periods, or “terms,” which end on a maturity date. Early withdrawals of principal prior to the maturity date are restricted. TD Accounts are subject to various other provisions in this Agreement, including section “IV. Time Deposit Accounts; Truth in Savings Disclosure.” We will not provide you with any evidence of TD Account ownership, such as a passbook or certificate. Your periodic statement will serve as evidence of your TD Account with us.
Time Deposit Account. Maturity
Time Deposit Account. Bank and Borrowers acknowledge and agree that the original of Letter of Credit No. SB516002 (described in clause (x) of Section 8(a)(ii) of the Credit Agreement) has been surrendered to and cancelled by Bank, that the pledge of the time deposit account in the amount of $741,225 contemplated by Section 8(a)(ii) of the Credit Agreement created with respect to such Letter of Credit has been released by Bank and that the funds in such time deposit account have been withdrawn by Borrowers.
Time Deposit Account a.Subject to the Bank’s sole discretion and minimum balance requirements, as determined from time to time, the Customer may open a Time Deposit Account.
