Business Certificates of Deposit Clause Samples

Business Certificates of Deposit. Each type of Certificate of Deposit (a “Certificate”) is the savings of a member accepted by agreement for specific amounts, for specific periods of time, at agreed rates of interest. Interest rates for all Certificates are established weekly based on government securities with like terms. When you purchase a Certificate, the interest rate is fixed at the time of purchase until the Certificate reaches maturity. The interest rates and APY on Certificates are set forth in our CD Rate Schedule and are accurate as of the date set forth on the CD Rate Schedule. Please call the Credit Union at the telephone number appearing on the CD Rate Schedule to obtain current rate information. The following additional disclosures apply to each type of Certificate. a) Compounding and Crediting. Interest will be compounded monthly and credited monthly. Interest earned on a Certificate may remain in the Account until maturity, or at your option, may be paid monthly into your Share, Checking, or Money Market Account. The interest payment method on a Certificate may be designated or changed only when the Certificate is purchased or renewed.
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Business Certificates of Deposit. Added the following for clarification: d) Partial Redemption and Penalties for Early Withdrawal. You may make early withdrawals of principal, in whole or in part. The minimum amount of each principal withdrawal you may make prior to maturity is $1,000.00. We may impose a penalty if you withdraw any of the principal funds before the maturity date, subject to paragraph 7(b) above. Penalties will be imposed only on the amount withdrawn, provided that the Certificate balance remains at or above its minimum purchase requirement. The penalty on a 91 day Certificate will equal 30 days’ interest on the amount withdrawn. The penalty on a 182 day Certificate will equal 60 days’ interest on the amount withdrawn. The penalty on a Certificate with a term of 12 months or longer will equal 180 days’ interest on the amount withdrawn. All references to Texans Check Card have been updated throughout the document to Texans Debit Card.
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Related to Business Certificates of Deposit

  • Certificates of Banks Any Bank claiming reimbursement or compensation under this Article III shall deliver to the Company (with a copy to the Agent) a certificate setting forth in reasonable detail the amount payable to the Bank hereunder and such certificate shall be conclusive and binding on the Company in the absence of manifest error.

  • Certificates of Compliance The Company shall provide, from time to time upon request of the Dealer Manager, certificates of its chief executive officer and chief financial officer of compliance by the Company of the requirements of this Agreement.

  • Certificates of Insurance Prior to commencing under this Contract, Supplier must furnish to Sourcewell a certificate of insurance, as evidence of the insurance required under this Contract. Prior to expiration of the policy(ies), renewal certificates must be mailed to Sourcewell, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇.▇. Box 219, Staples, MN 56479 or sent to the Sourcewell Supplier Development Administrator assigned to this Contract. The certificates must be signed by a person authorized by the insurer(s) to bind coverage on their behalf. Failure to request certificates of insurance by Sourcewell, or failure of Supplier to provide certificates of insurance, in no way limits or relieves Supplier of its duties and responsibilities in this Contract.

  • Certificates of the Company The Company shall furnish to the Trustee and the Collateral Agent, prior to each proposed release of Collateral pursuant to any Collateral Agreements, (i) all documents required by TIA §314(d) and (ii) an Opinion of Counsel, which may be rendered by internal counsel to the Company, to the effect that such accompanying documents constitute all documents required by TIA §314(d). The Trustee may, to the extent permitted by Sections 8.01 and 8.02 hereof, accept as conclusive evidence of compliance with the foregoing provisions the appropriate statements contained in such documents and such Opinion of Counsel.

  • Closing Certificates; Certified Certificate of Incorporation; Good Standing Certificates The Administrative Agent shall have received (i) a certificate of each Loan Party, dated the Effective Date and executed by its Secretary or Assistant Secretary, which shall (A) certify the resolutions of its Board of Directors, members or other body authorizing the execution, delivery and performance of the Loan Documents to which it is a party, (B) identify by name and title and bear the signatures of the Financial Officers and any other officers of such Loan Party authorized to sign the Loan Documents to which it is a party, and (C) contain appropriate attachments, including the certificate or articles of incorporation or organization of each Loan Party certified by the relevant authority of the jurisdiction of organization of such Loan Party and a true and correct copy of its by-laws or operating, management or partnership agreement, and (ii) a long form good standing certificate for each Loan Party from its jurisdiction of organization.