Alabama Credit Agreement between Southwest Royalties, Inc. and Bank One Texas

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9032
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Title: Understanding Alabama Credit Agreement: Southwest Royalties, Inc. and Bank One Texas Introduction: The Alabama Credit Agreement is a legally binding document that outlines the terms and conditions under which Southwest Royalties, Inc. and Bank One Texas agree to establish a credit arrangement. This agreement allows Southwest Royalties, Inc. to access funds from Bank One Texas to support its operational and financial needs. Generally, there exist various types of Alabama Credit Agreement between these two entities, designed to cater to their specific requirements. In this article, we will delve into the detailed description of the primary Alabama Credit Agreement between Southwest Royalties, Inc. and Bank One Texas, encompassing relevant keywords. Key Points: 1. Parties to the Agreement: The primary Alabama Credit Agreement involves two parties: — Southwest Royalties, Inc.: A Texas-based company engaged in the exploration, production, and marketing of oil and natural gas. — Bank One Texas: A reputable financial institution operating within the state of Texas, offering commercial banking services. 2. Purpose: The Alabama Credit Agreement aims to provide Southwest Royalties, Inc. with a credit line, ensuring timely access to funds for financing its ongoing operations, equipment purchases, capital investments, and other working capital needs. This credit arrangement helps Southwest Royalties, Inc. manage cash flows efficiently and seize potential growth opportunities. 3. Credit Facility Amount: The agreement specifies the maximum credit facility amount offered by Bank One Texas to Southwest Royalties, Inc. This amount may vary based on their creditworthiness, operational history, financial stability, and relationship with the bank. 4. Terms and Conditions: The Alabama Credit Agreement outlines various terms and conditions pertaining to: — Interest Rate: Specifies the interest rate charged by Bank One Texas on the borrowed funds, which may be fixed or variable. — Repayment Structure: Defines the repayment schedule, including principal and interest payments, and any grace periods. — Collateral: Indicates any assets or properties pledged by Southwest Royalties, Inc. as collateral to secure the credit facility, protecting the interests of Bank One Texas. — Default and Remedies: Enlists the rights and remedies available to both parties in the event of default, such as acceleration of repayment or foreclosure on collateral. — Fees and Charges: Covers any fees or charges associated with the credit facility, such as origination fees, annual maintenance fees, or prepayment penalties. — Governing Law: States that the agreement is subject to the laws of Alabama, specifying the jurisdiction where disputes will be resolved. — Termination and Amendment: Describes the conditions under which the agreement may be terminated or modified by mutual consent of both parties. Types of Alabama Credit Agreements: Apart from the primary credit agreement described above, different types of Alabama Credit Agreements may exist based on the unique requirements or circumstances of Southwest Royalties, Inc. and Bank One Texas. These can include: — Revolving Credit Agreement: Provides Southwest Royalties, Inc. with a revolving line of credit, subject to certain limits and repayment terms. — Term Loan Agreement: Offers Southwest Royalties, Inc. a fixed sum of money for a specified period, with predetermined repayment terms. — Asset-Based Credit Agreement: Allows Southwest Royalties, Inc. to access credit based on the value of its assets, such as accounts receivable, inventory, or fixed assets. Conclusion: The Alabama Credit Agreement between Southwest Royalties, Inc. and Bank One Texas serves as a vital financial tool, enabling Southwest Royalties, Inc. to maintain its business operations efficiently and respond to market demands. By understanding the terms and conditions associated with this agreement, both parties can foster a mutually beneficial relationship while mitigating potential risks and maximizing growth opportunities.

Title: Understanding Alabama Credit Agreement: Southwest Royalties, Inc. and Bank One Texas Introduction: The Alabama Credit Agreement is a legally binding document that outlines the terms and conditions under which Southwest Royalties, Inc. and Bank One Texas agree to establish a credit arrangement. This agreement allows Southwest Royalties, Inc. to access funds from Bank One Texas to support its operational and financial needs. Generally, there exist various types of Alabama Credit Agreement between these two entities, designed to cater to their specific requirements. In this article, we will delve into the detailed description of the primary Alabama Credit Agreement between Southwest Royalties, Inc. and Bank One Texas, encompassing relevant keywords. Key Points: 1. Parties to the Agreement: The primary Alabama Credit Agreement involves two parties: — Southwest Royalties, Inc.: A Texas-based company engaged in the exploration, production, and marketing of oil and natural gas. — Bank One Texas: A reputable financial institution operating within the state of Texas, offering commercial banking services. 2. Purpose: The Alabama Credit Agreement aims to provide Southwest Royalties, Inc. with a credit line, ensuring timely access to funds for financing its ongoing operations, equipment purchases, capital investments, and other working capital needs. This credit arrangement helps Southwest Royalties, Inc. manage cash flows efficiently and seize potential growth opportunities. 3. Credit Facility Amount: The agreement specifies the maximum credit facility amount offered by Bank One Texas to Southwest Royalties, Inc. This amount may vary based on their creditworthiness, operational history, financial stability, and relationship with the bank. 4. Terms and Conditions: The Alabama Credit Agreement outlines various terms and conditions pertaining to: — Interest Rate: Specifies the interest rate charged by Bank One Texas on the borrowed funds, which may be fixed or variable. — Repayment Structure: Defines the repayment schedule, including principal and interest payments, and any grace periods. — Collateral: Indicates any assets or properties pledged by Southwest Royalties, Inc. as collateral to secure the credit facility, protecting the interests of Bank One Texas. — Default and Remedies: Enlists the rights and remedies available to both parties in the event of default, such as acceleration of repayment or foreclosure on collateral. — Fees and Charges: Covers any fees or charges associated with the credit facility, such as origination fees, annual maintenance fees, or prepayment penalties. — Governing Law: States that the agreement is subject to the laws of Alabama, specifying the jurisdiction where disputes will be resolved. — Termination and Amendment: Describes the conditions under which the agreement may be terminated or modified by mutual consent of both parties. Types of Alabama Credit Agreements: Apart from the primary credit agreement described above, different types of Alabama Credit Agreements may exist based on the unique requirements or circumstances of Southwest Royalties, Inc. and Bank One Texas. These can include: — Revolving Credit Agreement: Provides Southwest Royalties, Inc. with a revolving line of credit, subject to certain limits and repayment terms. — Term Loan Agreement: Offers Southwest Royalties, Inc. a fixed sum of money for a specified period, with predetermined repayment terms. — Asset-Based Credit Agreement: Allows Southwest Royalties, Inc. to access credit based on the value of its assets, such as accounts receivable, inventory, or fixed assets. Conclusion: The Alabama Credit Agreement between Southwest Royalties, Inc. and Bank One Texas serves as a vital financial tool, enabling Southwest Royalties, Inc. to maintain its business operations efficiently and respond to market demands. By understanding the terms and conditions associated with this agreement, both parties can foster a mutually beneficial relationship while mitigating potential risks and maximizing growth opportunities.