Arizona Credit Agreement regarding extension of credit

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9453
• Format: Word; Rich Text

Description

Credit Agreement among Citadel Broadcasting Company, Citadel Communications Corporation, Certain Lenders, Credit Suisse First Boston, Finova Capital Corporation, first Union National Bank and Fleet National Bank regarding extension of credit in various The Arizona Credit Agreement regarding the extension of credit is a legal and binding document outlining the terms and conditions between a creditor and a debtor. This agreement serves as a written contract that establishes the rights and responsibilities of both parties involved in the transaction. One type of Arizona Credit Agreement regarding the extension of credit is the Revolving Credit Agreement. Under this agreement, the creditor provides the debtor with a predetermined credit limit that can be utilized repeatedly over time. The debtor has the flexibility to borrow up to the established credit limit and repay the borrowed amount in installments. The interest rate is typically variable, meaning it can fluctuate based on market conditions or other factors agreed upon in the contract. Another type is the Installment Credit Agreement. This agreement involves the extension of a specified amount of credit to the debtor, which is repaid over a set period in regular installments. The terms of repayment, including the interest rate and the frequency of payments, are predetermined and stated in the agreement. Unlike revolving credit, installment credit typically involves a fixed interest rate, providing the debtor with a predictable repayment schedule. The Arizona Credit Agreement regarding the extension of credit covers various important aspects, including: 1. Parties: Identifies the legal names and addresses of both the creditor and debtor involved in the agreement. 2. Loan Amount: Specifies the maximum credit amount available or the specific loan amount extended to the debtor. 3. Interest Rates: Outlines the interest rate charged on the credit amount, whether fixed or variable, as well as any penalties or fees if payments are not made on time. 4. Repayment Terms: Describes how the credit or loan is to be repaid, including the length of the repayment period and the frequency of payments (e.g., monthly, bi-weekly). 5. Collateral: States whether collateral is required to secure the credit, such as real estate, vehicles, or other valuable assets that the creditor can claim in case of default. 6. Late Payment and Default: Specifies the consequences of late payments or default, such as increased interest rates, penalties, or even legal action. 7. Termination or Renewal: Outlines the conditions under which the agreement can be terminated or renewed, including any notice periods required. 8. Governing Law: Indicates that the agreement is governed by the laws of the state of Arizona, ensuring compliance with local regulations. It's crucial for both the creditor and debtor to carefully review and understand the terms included in the Arizona Credit Agreement regarding the extension of credit before signing. Seeking legal advice is recommended to ensure compliance with applicable laws and to protect the rights and interests of both parties involved.

The Arizona Credit Agreement regarding the extension of credit is a legal and binding document outlining the terms and conditions between a creditor and a debtor. This agreement serves as a written contract that establishes the rights and responsibilities of both parties involved in the transaction. One type of Arizona Credit Agreement regarding the extension of credit is the Revolving Credit Agreement. Under this agreement, the creditor provides the debtor with a predetermined credit limit that can be utilized repeatedly over time. The debtor has the flexibility to borrow up to the established credit limit and repay the borrowed amount in installments. The interest rate is typically variable, meaning it can fluctuate based on market conditions or other factors agreed upon in the contract. Another type is the Installment Credit Agreement. This agreement involves the extension of a specified amount of credit to the debtor, which is repaid over a set period in regular installments. The terms of repayment, including the interest rate and the frequency of payments, are predetermined and stated in the agreement. Unlike revolving credit, installment credit typically involves a fixed interest rate, providing the debtor with a predictable repayment schedule. The Arizona Credit Agreement regarding the extension of credit covers various important aspects, including: 1. Parties: Identifies the legal names and addresses of both the creditor and debtor involved in the agreement. 2. Loan Amount: Specifies the maximum credit amount available or the specific loan amount extended to the debtor. 3. Interest Rates: Outlines the interest rate charged on the credit amount, whether fixed or variable, as well as any penalties or fees if payments are not made on time. 4. Repayment Terms: Describes how the credit or loan is to be repaid, including the length of the repayment period and the frequency of payments (e.g., monthly, bi-weekly). 5. Collateral: States whether collateral is required to secure the credit, such as real estate, vehicles, or other valuable assets that the creditor can claim in case of default. 6. Late Payment and Default: Specifies the consequences of late payments or default, such as increased interest rates, penalties, or even legal action. 7. Termination or Renewal: Outlines the conditions under which the agreement can be terminated or renewed, including any notice periods required. 8. Governing Law: Indicates that the agreement is governed by the laws of the state of Arizona, ensuring compliance with local regulations. It's crucial for both the creditor and debtor to carefully review and understand the terms included in the Arizona Credit Agreement regarding the extension of credit before signing. Seeking legal advice is recommended to ensure compliance with applicable laws and to protect the rights and interests of both parties involved.