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

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

Description

This is a multi-state form covering the subject matter of the title. A Collin Texas Credit Agreement refers to a legally binding contract between Southwest Royalties, Inc. and Bank One Texas, outlining the terms and conditions of a credit arrangement. This agreement is crucial in establishing a credit line for Southwest Royalties, Inc. with Bank One Texas, enabling them to access funds whenever necessary and to manage their financial needs effectively. The Collin Texas Credit Agreement is designed to protect the rights and interests of both parties and ensure compliance with applicable laws and regulations. Key components of a Collin Texas Credit Agreement may include: 1. Parties Involved: The agreement identifies the primary parties involved, namely Southwest Royalties, Inc. and Bank One Texas. 2. Purpose: The agreement states the purpose of the credit arrangement, typically highlighting Southwest Royalties, Inc.'s need for credit to support their operational requirements, investment projects, or any other specified financing needs. 3. Credit Facilities: This section outlines the specific credit facilities extended by Bank One Texas, such as a line of credit, term loan, or revolving credit, along with their respective limits. 4. Terms and Conditions: The agreement delves into the terms and conditions governing the credit extended. This includes interest rates, maturity dates, repayment terms, fees, and any applicable penalties or provisions for early repayment. 5. Collateral: If required, the agreement details any collateral pledged by Southwest Royalties, Inc. to secure the credit, such as assets, property, or accounts receivable. It will outline the rights and obligations concerning the management of these collateral assets. 6. Representations and Warranties: Both parties are likely to provide representations and warranties to affirm the accuracy of the information provided, the legality of their operations, and their compliance with relevant laws, regulations, and contractual obligations. 7. Events of Default: This section outlines the situations or events that would qualify as defaults under the agreement, such as non-payment, breach of covenants, or bankruptcy. It also describes the consequences and remedies available to Bank One Texas in case of default. 8. Governing Law: The agreement specifies that Collin County, Texas law will govern the interpretation and implementation of all its provisions. It also mentions the resolution of disputes through arbitration or litigation in Collin County, if necessary. Different types of Collin Texas Credit Agreements between Southwest Royalties, Inc. and Bank One Texas may vary based on the purpose, credit facilities provided, or specific terms. Some examples include Revolving Credit Facility Agreements, Term Loan Agreements, Equipment Financing Agreements, or Working Capital Facilities Agreements. Each agreement will outline the unique conditions, terms, and covenants related to the specific credit facility being established between the parties.

A Collin Texas Credit Agreement refers to a legally binding contract between Southwest Royalties, Inc. and Bank One Texas, outlining the terms and conditions of a credit arrangement. This agreement is crucial in establishing a credit line for Southwest Royalties, Inc. with Bank One Texas, enabling them to access funds whenever necessary and to manage their financial needs effectively. The Collin Texas Credit Agreement is designed to protect the rights and interests of both parties and ensure compliance with applicable laws and regulations. Key components of a Collin Texas Credit Agreement may include: 1. Parties Involved: The agreement identifies the primary parties involved, namely Southwest Royalties, Inc. and Bank One Texas. 2. Purpose: The agreement states the purpose of the credit arrangement, typically highlighting Southwest Royalties, Inc.'s need for credit to support their operational requirements, investment projects, or any other specified financing needs. 3. Credit Facilities: This section outlines the specific credit facilities extended by Bank One Texas, such as a line of credit, term loan, or revolving credit, along with their respective limits. 4. Terms and Conditions: The agreement delves into the terms and conditions governing the credit extended. This includes interest rates, maturity dates, repayment terms, fees, and any applicable penalties or provisions for early repayment. 5. Collateral: If required, the agreement details any collateral pledged by Southwest Royalties, Inc. to secure the credit, such as assets, property, or accounts receivable. It will outline the rights and obligations concerning the management of these collateral assets. 6. Representations and Warranties: Both parties are likely to provide representations and warranties to affirm the accuracy of the information provided, the legality of their operations, and their compliance with relevant laws, regulations, and contractual obligations. 7. Events of Default: This section outlines the situations or events that would qualify as defaults under the agreement, such as non-payment, breach of covenants, or bankruptcy. It also describes the consequences and remedies available to Bank One Texas in case of default. 8. Governing Law: The agreement specifies that Collin County, Texas law will govern the interpretation and implementation of all its provisions. It also mentions the resolution of disputes through arbitration or litigation in Collin County, if necessary. Different types of Collin Texas Credit Agreements between Southwest Royalties, Inc. and Bank One Texas may vary based on the purpose, credit facilities provided, or specific terms. Some examples include Revolving Credit Facility Agreements, Term Loan Agreements, Equipment Financing Agreements, or Working Capital Facilities Agreements. Each agreement will outline the unique conditions, terms, and covenants related to the specific credit facility being established between the parties.