Laws of New York (Last Updated: November 21, 2014) |
STF State Finance |
Article 16. WATER POLLUTION CONTROL LINKED DEPOSIT PROGRAM ACT |
Section 241. Early maturity
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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.