Arizona Underwriting Agreement between Advanta Equipment Receivable Series LLC and Advanta Bank Corporation

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• Control #: US-EG-9171
• Format: Word; Rich Text

Description

Underwriting Agreement between Advanta Equipment Receivable Series 2000-_____ LLC and Advanta Bank Corp. dated 00/00. 14 pages Title: Understanding the Arizona Underwriting Agreement: Advance Equipment Receivable Series LLC and Advance Bank Corporation Introduction: The Arizona Underwriting Agreement is a legally binding document that dictates the terms and conditions between Advance Equipment Receivable Series LLC and Advance Bank Corporation. This agreement encompasses various financial transactions and sets forth the responsibilities and obligations of both parties involved. In this article, we will delve into the details of this agreement, its significance, and any potential variations that may exist. Key Terms and Provisions: 1. Definition: The agreement begins with a comprehensive definition section, elucidating key terms and their respective interpretations. These terms may include "Advance Equipment Receivable Series LLC," "Advance Bank Corporation," "underwritten securities," "purchase price," "closing date," and other relevant terminology. 2. Underwriting Obligations: This section outlines the obligations of both parties. Advance Equipment Receivable Series LLC may grant Advance Bank Corporation the exclusive right to purchase or underwrite a specific quantity of securities at a predetermined price. The agreement specifies the terms, such as the minimum and maximum obligations of Advance Bank Corporation, deadlines for completion, and any potential penalties or damages. 3. Purchase Price and Payment Terms: This provision elaborates on the purchase price of the underwritten securities, including the method and timeline for payment. The agreement may specify payment through cash, check, or other acceptable forms of payment. 4. Representations and Warranties: Both parties make certain representations and warranties regarding their business, financial viability, and authority to enter into the agreement. These statements ensure that both Advance Equipment Receivable Series LLC and Advance Bank Corporation possess the necessary legal capacity and resources required to fulfill their obligations. 5. Indemnification: This section describes the indemnification terms, stating that one party will compensate the other for any losses, damages, or liabilities resulting from a breach of the agreement or misrepresentation of facts. 6. Governing Law and Jurisdiction: The agreement identifies Arizona law as the governing jurisdiction and specifies where any disputes arising from this agreement will be settled, typically through arbitration or in a designated court. Types of Arizona Underwriting Agreements: While the specifics of the Arizona Underwriting Agreement may vary based on individual circumstances, there are a few potential variations that can exist: 1. Simple Underwriting Agreement: This basic agreement outlines the terms and conditions for the underwriting of securities without incorporating additional complexities or tailor-made provisions. 2. Standby Underwriting Agreement: This agreement type is utilized when Advance Bank Corporation commits to purchasing any unsold securities following the primary offering, ensuring financial stability to Advance Equipment Receivable Series LLC. 3. Competitive Underwriting Agreement: In situations where multiple underwriters compete for the right to purchase and distribute securities, this agreement defines the process, terms, and benefits for each participating entity. Conclusion: The Arizona Underwriting Agreement is a vital legal document that plays a crucial role in ensuring a smooth underwriting process between Advance Equipment Receivable Series LLC and Advance Bank Corporation. By outlining the terms, obligations, and responsibilities of both parties, this agreement establishes a solid foundation for financial collaboration and protects the interests of all involved entities.

Title: Understanding the Arizona Underwriting Agreement: Advance Equipment Receivable Series LLC and Advance Bank Corporation Introduction: The Arizona Underwriting Agreement is a legally binding document that dictates the terms and conditions between Advance Equipment Receivable Series LLC and Advance Bank Corporation. This agreement encompasses various financial transactions and sets forth the responsibilities and obligations of both parties involved. In this article, we will delve into the details of this agreement, its significance, and any potential variations that may exist. Key Terms and Provisions: 1. Definition: The agreement begins with a comprehensive definition section, elucidating key terms and their respective interpretations. These terms may include "Advance Equipment Receivable Series LLC," "Advance Bank Corporation," "underwritten securities," "purchase price," "closing date," and other relevant terminology. 2. Underwriting Obligations: This section outlines the obligations of both parties. Advance Equipment Receivable Series LLC may grant Advance Bank Corporation the exclusive right to purchase or underwrite a specific quantity of securities at a predetermined price. The agreement specifies the terms, such as the minimum and maximum obligations of Advance Bank Corporation, deadlines for completion, and any potential penalties or damages. 3. Purchase Price and Payment Terms: This provision elaborates on the purchase price of the underwritten securities, including the method and timeline for payment. The agreement may specify payment through cash, check, or other acceptable forms of payment. 4. Representations and Warranties: Both parties make certain representations and warranties regarding their business, financial viability, and authority to enter into the agreement. These statements ensure that both Advance Equipment Receivable Series LLC and Advance Bank Corporation possess the necessary legal capacity and resources required to fulfill their obligations. 5. Indemnification: This section describes the indemnification terms, stating that one party will compensate the other for any losses, damages, or liabilities resulting from a breach of the agreement or misrepresentation of facts. 6. Governing Law and Jurisdiction: The agreement identifies Arizona law as the governing jurisdiction and specifies where any disputes arising from this agreement will be settled, typically through arbitration or in a designated court. Types of Arizona Underwriting Agreements: While the specifics of the Arizona Underwriting Agreement may vary based on individual circumstances, there are a few potential variations that can exist: 1. Simple Underwriting Agreement: This basic agreement outlines the terms and conditions for the underwriting of securities without incorporating additional complexities or tailor-made provisions. 2. Standby Underwriting Agreement: This agreement type is utilized when Advance Bank Corporation commits to purchasing any unsold securities following the primary offering, ensuring financial stability to Advance Equipment Receivable Series LLC. 3. Competitive Underwriting Agreement: In situations where multiple underwriters compete for the right to purchase and distribute securities, this agreement defines the process, terms, and benefits for each participating entity. Conclusion: The Arizona Underwriting Agreement is a vital legal document that plays a crucial role in ensuring a smooth underwriting process between Advance Equipment Receivable Series LLC and Advance Bank Corporation. By outlining the terms, obligations, and responsibilities of both parties, this agreement establishes a solid foundation for financial collaboration and protects the interests of all involved entities.