Time Deposit Account Sample Clauses

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.
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Time Deposit Account. Maturity
Sample 1Sample 2
Time Deposit Account a. A minimum initial deposit as determined by the Bank is required. b. Deposits will earn simple interest, unless otherwise indicated in writing by the Bank. c. Duration of placement is subject to a minimum of 1 month and a maximum of 60 months. d. Payment of interest on time deposits that are withdrawn before maturity date shall be: • where the time deposit is held for 3 months or longer, interest will be paid at half the contracted rate for each completed month; and • where the time deposit is held for less than 3 months, no interest shall be paid. e. All deposits plus interest earned shall be automatically renewed for the same period on maturity date, unless instructions in writing or via channels made available by the Bank are received by the Bank from the Customer or its successors in title beforehand. The Customer has the right to give and/or to amend any instructions up to the maturity date. f. If the maturity date falls on a non-banking day, it will be automatically changed to the next banking day. g. Placement of funds by cheque is subject to clearance of the cheque. h. The placement advice only serve as a record of transaction and is not required to be presented during withdrawal. i. The payment of interest, if any, shall be paid: • on the maturity date; or • at periodic intervals at the Bank’s discretion.
Sample 1
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. b. On the opening of a Time Deposit Account, the Bank will issue a confirmation advice stating the principal sum, term and rate of interest payable on the deposit. c. A Time Deposit Account is subject to the minimum balance limit determined by the Bank from time to time. d. Unless otherwise instructed by the Customer on or before the date of maturity, a Time Deposit may, at the Bank’s discretion, be automatically renewed for like periods of time at the interest rate determined by the Bank to be in accordance with prevailing market rates of return in respect of such deposits. e. If a Customer withdraws a Time Deposit prior to its maturity, such withdrawal will be subject to the payment of such fee, penalty and/or charge as the Bank deems appropriate in the circumstances and which may be modified from time to time. The following provisions shall apply in such case: I. The Customer shall not earn any interest on a Time Deposit if the Customer withdraws such deposit within seven (7) days from the date on which the Customer made such deposit (the “First Seven Days”). II. If the Customer withdraws the Time Deposit at any time after the first seven days but before the expiry of the tenure for which the Time Deposit was originally made (the “Original Tenure”), the Customer will only earn interest for the tenure for which the Time Deposit was actually maintained (the “Shorter Tenure”) (even if such early withdrawal is for purpose of investing in any other the Bank product/services). The rate of interest on an early withdrawal of a Time Deposit shall be calculated as follows: (1) where the Bank offers an interest rate for a period equivalent to the Shorter Tenure (the “Equivalent Rate”), the rate of interest shall be the Equivalent Rate less one percent (1%); (2) where the Bank does not offer an interest rate for a period equivalent to the Shorter Tenure, the rate of interest shall be the interest rate applicable to such tenure which is shorter than the Shorter Tenure in respect of which the Bank offers an interest rate (the “Preceding Period Rate”) less one percent (1%); or (3) where the Equivalent Rate or the Preceding Period Rate is less than one percent (1%), the rate of interest shall be half of the Equivalent Rate or the Preceding Period Rate, as applicable.
Sample 1
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.
Sample 1
Time Deposit Account a. A minimum initial deposit as determined by the Bank is required. b. Deposits will earn simple interest, unless otherwise indicated in writing by the Bank. c. Duration of placement is subject to a minimum of 1 month and a maximum of 60 months. d. Payment of interest on time deposits that are withdrawn before maturity date shall be: Contents 1. Toprate Statement Savings 2. Toprate Passbook Savings/ Junior Toprate Savings 3. Junior Toprate Statement Savings (applicable to accounts opened from 7 January 2012 onwards) 4. Basic Savings Account 5. Current Account 6. Basic Current Account 7. Time Deposit Account 8. HSBC Gold Account 9. FCY Current Account 10. FCY Savings Account 11. FCY Time Deposit Account 12. Hexagold
Sample 1

Related to Time Deposit Account

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.

  • Deposit Accounts For each Deposit Account that any Grantor at any time opens or maintains, other than Deposit Accounts (A) that are payroll accounts, withholdings tax accounts, xxxxx cash accounts or flexible spending benefit accounts or trust, escrow or other fiduciary accounts or (B) which do not hold for any period of five consecutive days, an aggregate amount in excess of $1,000,000, such Grantor shall, upon the Collateral Agent’s request, either (i) cause the depositary bank to agree to comply at any time with instructions from the Collateral Agent to such depositary bank directing the disposition of funds from time to time credited to such Deposit Account, without further consent of such Grantor or any other person, pursuant to an agreement in form and substance satisfactory to the Collateral Agent, or (ii) arrange for the Collateral Agent to become the customer of the depositary bank with respect to the Deposit Account, with the Grantor being permitted, only with the consent of the Collateral Agent, to exercise rights to withdraw funds from such Deposit Account. The Collateral Agent agrees with each Grantor that the Collateral Agent shall not give any such instructions or withhold any withdrawal rights from any Grantor, unless an Event of Default has occurred and is continuing, or, after giving effect to any withdrawal, would occur; provided, however, upon the waiver by the applicable Required Lenders of such Event of Default, so long as no other Event of Default shall then exist or be continuing, the Collateral Agent shall revoke any such instruction. The provisions of this paragraph shall not apply to any Deposit Account for which any Grantor, the depositary bank and the Collateral Agent have entered into a cash collateral agreement specially negotiated among such Grantor, the depositary bank and the Collateral Agent for the specific purpose set forth therein.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Collateral Accounts The Borrower agrees and confirms that (a) pursuant to the Collateral Agency Agreement, it has caused to be established at the Collateral Agent each of the Construction Account, Construction Payment Subaccount, Punchlist Retention Subaccount, the Operating Account, the Debt Service Reserve Account, the Debt Service Accrual Account, the Insurance Proceeds Account, the Income Tax Reserve Account, the Distribution Account and the Revenue Account, in each case in the name of the Collateral Agent and (b) it has instructed (or, on or before the effectiveness of each Project Document that is entered into after the date hereof, will instruct) each of the other parties to the Project Documents that all payments constituting Project Revenues due or to become due to the Borrower under or in connection with each such Project Document shall be made directly to the Collateral Agent for deposit to the Revenue Account in accordance with the terms of the Collateral Agency Agreement. If, notwithstanding the foregoing, any such payment or proceeds are remitted directly to the Borrower, the Borrower shall hold such funds in trust for the Collateral Agent and shall promptly remit such payments for deposit to the Revenue Account in accordance with the Collateral Agency Agreement. In addition to the foregoing, the Borrower agrees that if the proceeds of any Collateral hereunder (including the payments made in respect of the Collateral Accounts) shall be received by it, the Borrower shall as promptly as possible transfer such Proceeds to the Collateral Agent for deposit to the Reserve Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Collateral Agent and shall not be commingled with any other funds or property of the Borrower.

  • Establishment of Deposit Account The Deposit Account shall be established and maintained pursuant to Section 5.01 of the Sale and Servicing Agreement. The Deposit Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of Noteholders and the Certificateholders, as applicable in accordance with the Sale and Servicing Agreement.

  • Securities Account All Permitted Investments have been and will be credited to a Securities Account. The securities intermediary for each Securities Account has agreed to treat all assets credited to the Securities Accounts as “financial assets” within the meaning of the applicable UCC.

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