241 - Early maturity. - New York Statutes

§ 241. Early maturity. Unless otherwise agreed to by the corporation, the linked deposit shall automatically mature on the thirtieth calendar day after the occurrence of any event, monetary or non-monetary, which, whether declared by the lender or not, constitutes a default under any term or terms of the linked loan and such default remains uncured as of such thirty calendar days. Upon early repayment of a linked loan, the linked deposit shall automatically mature with payment due to the corporation on or before the last day of the month in which prepayment occurs.