6.1. If the particular part of the contract contains an automatic renewal clause, the contract is automatically renewed, without special notice, for the same duration as that for which it was made previously, at the end of the deposit period indicated in the special section of the contract. If, at the time of the automatic extension, the bank does not accept deposits for that period, it has the right to extend the contract for a period closest to the period for which the bank accepts deposits or not to apply an automatic renewal of the contract. 6.2. In the specific part of the agreement, the depositor has the right to choose what, after automatic renewal, is considered a deposit amount: (i) the sum of the deposit amount indicated in the particular part of the agreement and the interest that has been accrued and due up to the date of renewal of the contract, or (ii) the amount of the deposit set out in the Special Part of the Agreement. 6.3. REPAYMENT OF DEPOSITS Bank deposit contracts are similar to guaranteed investment contracts (GICs), except that they are granted by banks and not by insurance companies. The issuer (the bank) guarantees the return on investment of the investor and pays a fixed or variable interest rate until the end of the contract. In the meantime, the bank is trying to get a higher return on the investment than it has agreed to pay the investor. Generally speaking, the return on a bank deposit contract increases with the length and scale of the investment. Cash deposits, including all accrued but unpaid interest, under cash deposit agreements are not considered cash payments from RSP for the purpose of determining whether the cash floor is being met. The city shall hypothec and transfer to the Board, the Company, the Joint Board, the Loan Trustee and the Trustee Custodian the security of all costs and expenses incurred in connection with such transaction and due, then due and payable under the terms of the sublease, the lease agreement, the Indenture and this deposit agreement, all amounts in the additional account. 8.1.
Deposits are insured by the State Deposit and Investment Insurance (VĮ “Indėlių ir investicijų draudimas”) in accordance with the terms of the RoL Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania. . . .