Common use of Advance Options Clause in Contracts

Advance Options. The Loan shall be constituted of LIBOR Advances and Federal Funds Rate Advances, as shall be selected by the Borrower, except as otherwise provided herein. Any combination of types of Advances may be outstanding at the same time, except that the total of outstanding LIBOR Advances shall not exceed five (5) at any one time. Each LIBOR Advance shall be in a minimum amount of $500,000 and in an integral multiple of $100,000 if above such amount. Each Federal Funds Rate Advance shall be in a minimum amount of $500,000 and in an integral multiple of $100,000 if above such amount.