Common use of Option to Fund Clause in Contracts

Option to Fund. The Bank has indicated that, if the Borrower requests a LIBOR Advance, the Bank may wish to purchase one or more deposits in order to fund or maintain its funding of such LIBOR Advance during the Interest Period with respect thereto; it being understood that the provisions of this Agreement relating to such funding are included only for the purpose of determining the rate of interest to be paid in respect of such LIBOR Advance and any amounts owing under Sections 3.4 and 3.6. The Bank shall be entitled to fund and maintain its funding of all or any part of each LIBOR Advance in any manner it sees fit, but all such determinations hereunder shall be made as if the Bank had actually funded and maintained each LIBOR Advance during the applicable Interest Period through the purchase of deposits in an amount equal to such LIBOR Advance having a maturity corresponding to such Interest Period. The Bank may fund each LIBOR Advance from or for the account of any branch or office of the Bank as the Bank may choose from time to time.