Mecklenburg North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas

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

Description

This is a multi-state form covering the subject matter of the title. Mecklenburg North Carolina Credit Agreement refers to a financial contract between Southwest Royalties, Inc. and Bank One Texas, outlining the terms and conditions governing a credit arrangement. This agreement allows Southwest Royalties, Inc., a company engaged in oil and gas exploration and production, to obtain credit from Bank One Texas, a reputable financial institution operating in Mecklenburg, North Carolina. Keywords: Mecklenburg North Carolina, Credit Agreement, Southwest Royalties, Inc., Bank One Texas, financial contract, terms and conditions, credit arrangement, oil and gas exploration, production, financial institution. Types of Mecklenburg North Carolina Credit Agreements between Southwest Royalties, Inc. and Bank One Texas: 1. Revolving Credit Agreement: This type of credit agreement provides Southwest Royalties, Inc. with access to a revolving line of credit, allowing them to borrow funds up to a predetermined limit. The company can withdraw and repay funds as needed within the specified timeframe, paying interest only on the amount borrowed. 2. Term Loan Credit Agreement: In this type of credit agreement, Southwest Royalties, Inc. obtains a lump sum loan from Bank One Texas, which must be repaid over a fixed period, typically with regular payments of principal and interest. The loan term can vary depending on the agreed-upon timeframe, and the interest rate may be fixed or variable. 3. Secured Credit Agreement: A secured credit agreement involves the provision of collateral by Southwest Royalties, Inc. to Bank One Texas. The collateral, which could be assets or properties, acts as security in case of default. By providing collateral, Southwest Royalties, Inc. minimizes the risk for the lender, potentially obtaining better loan terms, such as lower interest rates. 4. Working Capital Credit Agreement: This type of credit agreement aims to finance the day-to-day operations of Southwest Royalties, Inc., ensuring the company has adequate working capital to meet its ongoing expenses, such as payroll, inventory, and operational costs. The agreement provides a revolving line of credit to meet short-term liquidity needs. 5. Project Finance Credit Agreement: In certain instances, Southwest Royalties, Inc. may require specific financing for a particular project, such as the exploration of a new oil or gas field. This type of credit agreement outlines the terms and conditions for the project-specific financing, taking into account the unique risks and requirements associated with the venture. In conclusion, Mecklenburg North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a financial contract that enables Southwest Royalties, Inc. to secure credit from Bank One Texas, a prominent financial institution. Various types of credit agreements exist, including revolving credit, term loan credit, secured credit, working capital credit, and project finance credit, each tailored to specific financing needs and circumstances.

Mecklenburg North Carolina Credit Agreement refers to a financial contract between Southwest Royalties, Inc. and Bank One Texas, outlining the terms and conditions governing a credit arrangement. This agreement allows Southwest Royalties, Inc., a company engaged in oil and gas exploration and production, to obtain credit from Bank One Texas, a reputable financial institution operating in Mecklenburg, North Carolina. Keywords: Mecklenburg North Carolina, Credit Agreement, Southwest Royalties, Inc., Bank One Texas, financial contract, terms and conditions, credit arrangement, oil and gas exploration, production, financial institution. Types of Mecklenburg North Carolina Credit Agreements between Southwest Royalties, Inc. and Bank One Texas: 1. Revolving Credit Agreement: This type of credit agreement provides Southwest Royalties, Inc. with access to a revolving line of credit, allowing them to borrow funds up to a predetermined limit. The company can withdraw and repay funds as needed within the specified timeframe, paying interest only on the amount borrowed. 2. Term Loan Credit Agreement: In this type of credit agreement, Southwest Royalties, Inc. obtains a lump sum loan from Bank One Texas, which must be repaid over a fixed period, typically with regular payments of principal and interest. The loan term can vary depending on the agreed-upon timeframe, and the interest rate may be fixed or variable. 3. Secured Credit Agreement: A secured credit agreement involves the provision of collateral by Southwest Royalties, Inc. to Bank One Texas. The collateral, which could be assets or properties, acts as security in case of default. By providing collateral, Southwest Royalties, Inc. minimizes the risk for the lender, potentially obtaining better loan terms, such as lower interest rates. 4. Working Capital Credit Agreement: This type of credit agreement aims to finance the day-to-day operations of Southwest Royalties, Inc., ensuring the company has adequate working capital to meet its ongoing expenses, such as payroll, inventory, and operational costs. The agreement provides a revolving line of credit to meet short-term liquidity needs. 5. Project Finance Credit Agreement: In certain instances, Southwest Royalties, Inc. may require specific financing for a particular project, such as the exploration of a new oil or gas field. This type of credit agreement outlines the terms and conditions for the project-specific financing, taking into account the unique risks and requirements associated with the venture. In conclusion, Mecklenburg North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a financial contract that enables Southwest Royalties, Inc. to secure credit from Bank One Texas, a prominent financial institution. Various types of credit agreements exist, including revolving credit, term loan credit, secured credit, working capital credit, and project finance credit, each tailored to specific financing needs and circumstances.