Agmt16 Wells Fargo Bank - Laserfiche WebLink

Browse Search

....-.....__. ....... �rw��r�r�� Additional Deposits. Other than during the grace period, Company may not make additional deposits to Company's time Account,unless Bank otherwise agrees in writing R'ithdrawal of Interest Prior to Matarlty. A withdrawal of interest prior to maturity will reduce earnings. Renewal Policies. If Company's time Account is automatically renewable,at maturity it will renew(i)for a like term;and (ii)at Bank's interest rate in effect on the maturity date for a new time deposit of the same term and amount, unless Bank has notified Company that it will not renew Company's Account. Company may withdraw Company's funds anylime during the gcace period without a fee.ff Company dces,Bank will not pay interest far that period on the funds withdrawn. ff Compan�s time Account is not automatically renewable and Company does not withdraw the funds on the maturity date, the funds will no longer earn interest after the ma.turity date and will be placed in a non-interest-bearing checking Account. Esrly wtthdrawal fee.If Company withdraws funds from its time Account before the maturity date,an early withdrawal fee will be assessed: • For ternis less than three months(or less than 90 days),the fee is one month's interest • For terms three months(or 90 days)through 12 months(or 365 days), the fee is three months'interest • For ternis over 12 months through 24 months,the fee is six months' interest • For terms over 24 months,the fee is 12 months' interest • Minimum fee is$100 The early withdrawal fee is based on the principal amount withdrawn,at the interest rate on Company's time account at the time of withdrawal.For purposes of determining the amount of the early withdrawal fee,one month's interest is equal to one year's interest,at the interest rate in effect at the time of withdrawal,divided by 12.The amount of the early withdrawal fee is deducted from earned interest.If the fee is greater than the earned interest,the difference is deducted from the principal.In no event will the early 40 ATTY/AGR/2016.186NVELLS FARGO BANKING AGREEMENT