Common use of Advance Options Clause in Contracts

Advance Options. Each Advance shall be either a Domestic Advance or a Eurodollar Advance as shall be selected by the Company, except as otherwise provided herein. Any combination of types of Advances may be outstanding at the same time. As to any Eurodollar Advance, each Bank may, if it so elects, fulfill its commitment by causing a foreign branch or affiliate to make or continue such Advance, provided that in such event such Advance shall be deemed for the purposes of this Agreement to have been made by such Bank and the obligation of the Company to repay such Advance shall nevertheless be to such Bank and shall be deemed held by the Bank, to the extent of such Advance, for the account of such branch or affiliate.