Dividends on Accounts Sample Clauses

Dividends on Accounts. When you open an account that pays dividends, we will provide you a Rate Sheet stating the current dividends rate, requirements to earn dividends if applicable, and Annual Percentage Yield for your account. The Rate Sheet is considered a part of this agreement. You may obtain the most up to date Rate Sheet at any time by visiting our website (▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇), visiting a branch, by request via mail to: P.O. Box 9005, Smithtown, NY 11787, or by calling ▇-▇▇▇-▇▇▇-▇▇▇▇. If your account has a variable dividends rate. That means we may change the dividend rate and Annual Percentage Yield as often as we choose, without limits and without notice. Dividends begin to accrue on the business day we receive credit for your deposit. For cash, wire transfers and electronic direct deposits, dividends begin to accrue on the business day of your deposit. We use the average monthly balance method for calculating dividends. The average monthly balance is calculated by adding the closing balance at the end of each day and dividing it by the number of calendar days in a given statement cycle. Combined month-end deposit balances represent the total amount of balances in all applicable deposit accounts at the end of a statement cycle. We reserve the right not to pay dividends on any deposited item that is returned to us unpaid. Unless otherwise stated in your product disclosure, dividends are computed on a 365-day basis. We pay dividends only in whole cents. Therefore, at the end of each dividend payment period (usually monthly), any fractional amount of dividends less than half of one cent will be rounded down and any fractional amount of dividends equal to half of one cent or more will be rounded up to the next whole cent. Upon the closure of a dividend bearing account you will be credited with dividends up to the date of closure. Please note that the dividend rate may vary by location. STATEMENTS, REVIEW REQUIREMENTS AND ERROR NOTICES‌ PERIODIC STATEMENTS‌ Our statements and notices are in English. Further services are available for the visually impaired such as large print and color contrast enhanced format. Your Truth in Savings Disclosure will outline how frequently we will send account statements.
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Related to Dividends on Accounts

  • Dividends on Escrow Securities You may receive a dividend or other distribution on your escrow securities, and elect the manner of payment from the standard options offered by the Issuer. If the Escrow Agent receives a dividend or other distribution on your escrow securities, other than additional escrow securities, the Escrow Agent will pay the dividend or other distribution to you on receipt.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Dividends, Etc The Company shall not declare or pay any dividend of any kind, in cash or in property, on any class of its capital stock, nor purchase, redeem, retire or otherwise acquire for value any shares of such stock, nor make any distribution of any kind in respect thereof, nor make any return of capital to shareholders, nor make any payments in respect of any pension, profit sharing, retirement, stock option, stock bonus, incentive compensation or similar plan (except as required or permitted hereunder), without the prior written consent of the Secured Party.

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.

  • Dividends and Related Distributions Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, make or pay, or agree to become or remain liable to make or pay, any dividend or other distribution of any nature (whether in cash, property, securities or otherwise) on account of or in respect of its Equity Interests, including any sinking fund or similar deposit, or on account of the purchase, redemption, retirement, cancellation, termination or acquisition of its Equity Interests (or warrants, options or rights therefor) (any of the foregoing being referred to as a “Restricted Payment”), except (a) the Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its common stock, (b) Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests, (c) the Borrower may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Borrower and its Subsidiaries and (d) the Borrower and its Subsidiaries may make any other Restricted Payment (including, for the avoidance of doubt, any repurchase of Equity Interests of the Borrower pursuant to the Specified Share Repurchase Program) so long as immediately prior to and after giving effect (including giving effect on a pro forma basis) to such Restricted Payment (i) no Default or Event of Default exists or would result therefrom and (ii) the Borrower is in compliance with the financial covenants set forth in Sections 6.14 and 6.15.