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

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

Description

This is a multi-state form covering the subject matter of the title. The Harris Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a legally binding contract that outlines the terms and conditions for borrowing funds from the bank by Southwest Royalties, Inc., a company based in Harris County, Texas. This credit agreement sets forth the obligations, rights, and responsibilities of both parties involved in the loan transaction. One type of Harris Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a revolving credit facility. This type of agreement provides Southwest Royalties, Inc. with the flexibility to access funds up to a specified credit limit whenever needed. The borrower has the option to repay the borrowed amount and re-borrow again, subject to terms and conditions mentioned in the agreement. Another type of credit agreement could be a term loan agreement, which is a fixed-sum advance provided by Bank One Texas to Southwest Royalties, Inc. under agreed-upon terms and repayment schedule. This loan is typically utilized for a specific purpose, such as financing equipment purchases or meeting long-term capital requirements. The Harris Texas Credit Agreement will typically include various key elements such as the loan amount, interest rates, payment terms, maturity date, collateral requirements, events of default, and any specific covenants or conditions imposed by the bank. The agreement will also outline the procedures for disbursement of funds, loan repayment, and consequences of default or non-compliance. It is important to note that the exact terms and conditions of the Harris Texas Credit Agreement will vary based on the specific needs and negotiation between Southwest Royalties, Inc. and Bank One Texas. The parties may include additional provisions or tailor the agreement to suit their respective requirements. In summary, the Harris Texas Credit Agreement is a crucial document that governs the borrowing relationship between Southwest Royalties, Inc. and Bank One Texas. It ensures transparency and accountability while lending funds and acts as a reference point for both parties to resolve any disputes or issues that may arise during the loan tenure.

The Harris Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a legally binding contract that outlines the terms and conditions for borrowing funds from the bank by Southwest Royalties, Inc., a company based in Harris County, Texas. This credit agreement sets forth the obligations, rights, and responsibilities of both parties involved in the loan transaction. One type of Harris Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a revolving credit facility. This type of agreement provides Southwest Royalties, Inc. with the flexibility to access funds up to a specified credit limit whenever needed. The borrower has the option to repay the borrowed amount and re-borrow again, subject to terms and conditions mentioned in the agreement. Another type of credit agreement could be a term loan agreement, which is a fixed-sum advance provided by Bank One Texas to Southwest Royalties, Inc. under agreed-upon terms and repayment schedule. This loan is typically utilized for a specific purpose, such as financing equipment purchases or meeting long-term capital requirements. The Harris Texas Credit Agreement will typically include various key elements such as the loan amount, interest rates, payment terms, maturity date, collateral requirements, events of default, and any specific covenants or conditions imposed by the bank. The agreement will also outline the procedures for disbursement of funds, loan repayment, and consequences of default or non-compliance. It is important to note that the exact terms and conditions of the Harris Texas Credit Agreement will vary based on the specific needs and negotiation between Southwest Royalties, Inc. and Bank One Texas. The parties may include additional provisions or tailor the agreement to suit their respective requirements. In summary, the Harris Texas Credit Agreement is a crucial document that governs the borrowing relationship between Southwest Royalties, Inc. and Bank One Texas. It ensures transparency and accountability while lending funds and acts as a reference point for both parties to resolve any disputes or issues that may arise during the loan tenure.