Utah 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: Utah Underwriting Agreement: Advance Equipment Receivable Series LLC and Advance Bank Corporation Keywords: Utah Underwriting Agreement, Advance Equipment Receivable Series LLC, Advance Bank Corporation, description, types Introduction: The Utah Underwriting Agreement serves as a legally binding contract between Advance Equipment Receivable Series LLC (AIRS) and Advance Bank Corporation (ABC). This agreement aims to outline the terms and conditions related to the underwriting of specific securities issued by AIRS and purchased by ABC in the state of Utah. The agreement sets forth key provisions, obligations, and rights governing the relationship between the parties involved. Detailed Description: 1. Agreement Scope: The Utah Underwriting Agreement governs the process through which AIRS issues securities and subsequently offers them for purchase by ABC. It encompasses the obligations, rights, and responsibilities of both parties during the underwriting process. 2. Key Parties: a. Advance Equipment Receivable Series LLC (AIRS): AIRSRS is the issuing entity responsible for offering securities to be underwritten by ABC. AIRSRS ensures compliance with all legal and regulatory requirements related to the offering and sale of securities. AIRSRS benefits from the underwriting agreement by securing financial support and expertise from ABC. b. Advance Bank Corporation (ABC): — ABC acts as the underwriter, purchasing the securities issued by AIRS. — ABC assumes the financial risk involved in the purchase and subsequent resale of the securities to potential investors. — ABC contributes its underwriting expertise, financial resources, and knowledge of the market to facilitate the successful placement of the securities. 3. Underwriting Agreement Types: The Utah Underwriting Agreement between AIRS and ABC can be categorized into different types based on specific conditions or terms defined in the contract: a. Standard Underwriting Agreement: — This type refers to the standard set of responsibilities, obligations, and rights agreed upon by AIRS and ABC during the underwriting process. — It typically encompasses provisions related to the purchase price, allocation of securities, delivery obligations, registration of securities, indemnification, and termination clauses. b. The Best Efforts Underwriting Agreement: — In this type, ABC agrees to make its best efforts to sell the securities issued by AIRS, but without providing a guarantee that all offered securities will be sold. — The agreement defines the minimum amount of securities ABC must sell to fulfill its obligations. — It outlines the steps ABC will take to promote the sale, including marketing strategies, pricing determinations, and distribution channels. c. Firm Commitment Underwriting Agreement: — This agreement type represents a stronger commitment from ABC, as it agrees to purchase all the securities offered by AIRS. — ABC assumes the financial risk of any unsold securities or unfavorable market conditions, providing AIRS with a guaranteed source of funds for the offered securities. Conclusion: The Utah Underwriting Agreement between AIRS and ABC establishes the terms and conditions governing the underwriting process, ensuring a mutually beneficial relationship. Through different agreement types, such as standard, the best efforts, and firm commitment, both parties can tailor the agreement to suit their specific requirements and risk appetite. This comprehensive agreement facilitates the successful offering and sale of securities in the state of Utah.

Title: Utah Underwriting Agreement: Advance Equipment Receivable Series LLC and Advance Bank Corporation Keywords: Utah Underwriting Agreement, Advance Equipment Receivable Series LLC, Advance Bank Corporation, description, types Introduction: The Utah Underwriting Agreement serves as a legally binding contract between Advance Equipment Receivable Series LLC (AIRS) and Advance Bank Corporation (ABC). This agreement aims to outline the terms and conditions related to the underwriting of specific securities issued by AIRS and purchased by ABC in the state of Utah. The agreement sets forth key provisions, obligations, and rights governing the relationship between the parties involved. Detailed Description: 1. Agreement Scope: The Utah Underwriting Agreement governs the process through which AIRS issues securities and subsequently offers them for purchase by ABC. It encompasses the obligations, rights, and responsibilities of both parties during the underwriting process. 2. Key Parties: a. Advance Equipment Receivable Series LLC (AIRS): AIRSRS is the issuing entity responsible for offering securities to be underwritten by ABC. AIRSRS ensures compliance with all legal and regulatory requirements related to the offering and sale of securities. AIRSRS benefits from the underwriting agreement by securing financial support and expertise from ABC. b. Advance Bank Corporation (ABC): — ABC acts as the underwriter, purchasing the securities issued by AIRS. — ABC assumes the financial risk involved in the purchase and subsequent resale of the securities to potential investors. — ABC contributes its underwriting expertise, financial resources, and knowledge of the market to facilitate the successful placement of the securities. 3. Underwriting Agreement Types: The Utah Underwriting Agreement between AIRS and ABC can be categorized into different types based on specific conditions or terms defined in the contract: a. Standard Underwriting Agreement: — This type refers to the standard set of responsibilities, obligations, and rights agreed upon by AIRS and ABC during the underwriting process. — It typically encompasses provisions related to the purchase price, allocation of securities, delivery obligations, registration of securities, indemnification, and termination clauses. b. The Best Efforts Underwriting Agreement: — In this type, ABC agrees to make its best efforts to sell the securities issued by AIRS, but without providing a guarantee that all offered securities will be sold. — The agreement defines the minimum amount of securities ABC must sell to fulfill its obligations. — It outlines the steps ABC will take to promote the sale, including marketing strategies, pricing determinations, and distribution channels. c. Firm Commitment Underwriting Agreement: — This agreement type represents a stronger commitment from ABC, as it agrees to purchase all the securities offered by AIRS. — ABC assumes the financial risk of any unsold securities or unfavorable market conditions, providing AIRS with a guaranteed source of funds for the offered securities. Conclusion: The Utah Underwriting Agreement between AIRS and ABC establishes the terms and conditions governing the underwriting process, ensuring a mutually beneficial relationship. Through different agreement types, such as standard, the best efforts, and firm commitment, both parties can tailor the agreement to suit their specific requirements and risk appetite. This comprehensive agreement facilitates the successful offering and sale of securities in the state of Utah.