Delaware 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. A Delaware Credit Agreement is a legally binding document that outlines the terms and conditions under which Southwest Royalties, Inc. and Bank One Texas will engage in credit transactions. This agreement serves as a framework for the extension of credit by Bank One Texas to Southwest Royalties, Inc. The agreement contains various provisions, including the terms of the credit, repayment schedule, interest rates, fees, and other important details. Bank One Texas offers different types of Delaware Credit Agreements based on the specific financial needs and circumstances of Southwest Royalties, Inc. These agreements may include: 1. Revolving Credit Agreement: This type of agreement allows Southwest Royalties, Inc. to access a predetermined credit limit from Bank One Texas. The company can borrow, repay, and borrow again within the agreed limit during a specified period. Interest is charged only on the amount borrowed. 2. Term Loan Agreement: In this agreement, Bank One Texas provides Southwest Royalties, Inc. with a lump sum loan amount, which is to be repaid over a defined period. The interest rate and repayment schedule are predetermined, offering Southwest Royalties, Inc. the certainty of fixed payments. 3. Working Capital Agreement: This type of agreement is specifically designed to meet the working capital requirements of Southwest Royalties, Inc. It provides the company with the necessary funds to cover its short-term operational expenses, such as inventory purchases, payroll, and overhead costs. 4. Equipment Financing Agreement: Under this agreement, Bank One Texas provides financing for the purchase of equipment or machinery required by Southwest Royalties, Inc. The loan amount and repayment terms are structured based on the specifics of the equipment being financed. 5. Acquisition Financing Agreement: For any acquisition or merger endeavors undertaken by Southwest Royalties, Inc., this agreement offers the necessary financial support. Bank One Texas provides the required funds to finance the acquisition, which is to be repaid based on agreed-upon terms. It is important to note that each of these Delaware Credit Agreements may have specific clauses and provisions tailored to the financial requirements, risk assessment, and creditworthiness of Southwest Royalties, Inc. These agreements are entered into with the mutual understanding and consent of both parties, ensuring transparency and legal compliance throughout the credit relationship.

A Delaware Credit Agreement is a legally binding document that outlines the terms and conditions under which Southwest Royalties, Inc. and Bank One Texas will engage in credit transactions. This agreement serves as a framework for the extension of credit by Bank One Texas to Southwest Royalties, Inc. The agreement contains various provisions, including the terms of the credit, repayment schedule, interest rates, fees, and other important details. Bank One Texas offers different types of Delaware Credit Agreements based on the specific financial needs and circumstances of Southwest Royalties, Inc. These agreements may include: 1. Revolving Credit Agreement: This type of agreement allows Southwest Royalties, Inc. to access a predetermined credit limit from Bank One Texas. The company can borrow, repay, and borrow again within the agreed limit during a specified period. Interest is charged only on the amount borrowed. 2. Term Loan Agreement: In this agreement, Bank One Texas provides Southwest Royalties, Inc. with a lump sum loan amount, which is to be repaid over a defined period. The interest rate and repayment schedule are predetermined, offering Southwest Royalties, Inc. the certainty of fixed payments. 3. Working Capital Agreement: This type of agreement is specifically designed to meet the working capital requirements of Southwest Royalties, Inc. It provides the company with the necessary funds to cover its short-term operational expenses, such as inventory purchases, payroll, and overhead costs. 4. Equipment Financing Agreement: Under this agreement, Bank One Texas provides financing for the purchase of equipment or machinery required by Southwest Royalties, Inc. The loan amount and repayment terms are structured based on the specifics of the equipment being financed. 5. Acquisition Financing Agreement: For any acquisition or merger endeavors undertaken by Southwest Royalties, Inc., this agreement offers the necessary financial support. Bank One Texas provides the required funds to finance the acquisition, which is to be repaid based on agreed-upon terms. It is important to note that each of these Delaware Credit Agreements may have specific clauses and provisions tailored to the financial requirements, risk assessment, and creditworthiness of Southwest Royalties, Inc. These agreements are entered into with the mutual understanding and consent of both parties, ensuring transparency and legal compliance throughout the credit relationship.