Nassau New York Credit Agreement between Southwest Royalties, Inc. and Bank One Texas

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

Description

This is a multi-state form covering the subject matter of the title. Nassau New York Credit Agreement between Southwest Royalties, Inc. and Bank One Texas The Nassau New York Credit Agreement is a financial arrangement between Southwest Royalties, Inc. and Bank One Texas, designed to provide the company with access to credit for various business needs in the Nassau area of New York. This agreement outlines the terms and conditions for the extension of credit, setting forth the rights and obligations of both parties involved. Keyword: Nassau New York, Credit Agreement, Southwest Royalties, Bank One Texas The primary purpose of this credit agreement is to establish a predetermined credit limit for Southwest Royalties, Inc., allowing them to borrow funds from Bank One Texas up to that specified amount. The agreement also determines the interest rate for the borrowed funds and provides a repayment plan to ensure timely repayment of the credit. Keyword: Credit limit, Borrow funds, Interest rate, Repayment plan The Nassau New York Credit Agreement may include various types, depending on the specific needs and circumstances of Southwest Royalties, Inc. and the offerings by Bank One Texas. Examples of different types of credit agreements under this arrangement may include: 1. Revolving Credit Agreement: This type of credit agreement provides Southwest Royalties, Inc. with a revolving line of credit, allowing them to borrow funds up to the predetermined credit limit at any time. The borrowed funds can be repaid and borrowed again as needed within the agreed repayment terms. 2. Term Credit Agreement: In a term credit agreement, Southwest Royalties, Inc. borrows a specific amount of funds from Bank One Texas for a fixed period. Repayment of the principal amount and any accrued interest is typically done in periodic installments over the agreed-upon term. 3. Working Capital Credit Agreement: This agreement is specifically tailored to provide Southwest Royalties, Inc. with access to funds required for day-to-day operational expenses, such as payroll, inventory, and short-term liabilities. It helps ensure the smooth functioning of the company's operations in Nassau, New York. 4. Project Finance Credit Agreement: In some cases, Southwest Royalties, Inc. may require funds for a specific project, such as expansion, equipment purchase, or research and development. This agreement allows them to borrow funds solely for the project's purposes, with repayment tied to the project's cash flows. 5. Standby Credit Agreement: A standby credit agreement acts as a backup line of credit for Southwest Royalties, Inc. in case of financial emergencies or short-term liquidity needs. It provides assurance to the company that funds will be available whenever required, offering financial flexibility. Keyword: Revolving Credit Agreement, Term Credit Agreement, Working Capital Credit Agreement, Project Finance Credit Agreement, Standby Credit Agreement It is important for both Southwest Royalties, Inc. and Bank One Texas to thoroughly review and understand the terms and conditions specified in the Nassau New York Credit Agreement. This ensures compliance and facilitates a mutually beneficial financial relationship, promoting the growth and success of Southwest Royalties, Inc.'s operations in Nassau, New York. Keyword: Terms and conditions, Compliance, Financial relationship, Growth and success

Nassau New York Credit Agreement between Southwest Royalties, Inc. and Bank One Texas The Nassau New York Credit Agreement is a financial arrangement between Southwest Royalties, Inc. and Bank One Texas, designed to provide the company with access to credit for various business needs in the Nassau area of New York. This agreement outlines the terms and conditions for the extension of credit, setting forth the rights and obligations of both parties involved. Keyword: Nassau New York, Credit Agreement, Southwest Royalties, Bank One Texas The primary purpose of this credit agreement is to establish a predetermined credit limit for Southwest Royalties, Inc., allowing them to borrow funds from Bank One Texas up to that specified amount. The agreement also determines the interest rate for the borrowed funds and provides a repayment plan to ensure timely repayment of the credit. Keyword: Credit limit, Borrow funds, Interest rate, Repayment plan The Nassau New York Credit Agreement may include various types, depending on the specific needs and circumstances of Southwest Royalties, Inc. and the offerings by Bank One Texas. Examples of different types of credit agreements under this arrangement may include: 1. Revolving Credit Agreement: This type of credit agreement provides Southwest Royalties, Inc. with a revolving line of credit, allowing them to borrow funds up to the predetermined credit limit at any time. The borrowed funds can be repaid and borrowed again as needed within the agreed repayment terms. 2. Term Credit Agreement: In a term credit agreement, Southwest Royalties, Inc. borrows a specific amount of funds from Bank One Texas for a fixed period. Repayment of the principal amount and any accrued interest is typically done in periodic installments over the agreed-upon term. 3. Working Capital Credit Agreement: This agreement is specifically tailored to provide Southwest Royalties, Inc. with access to funds required for day-to-day operational expenses, such as payroll, inventory, and short-term liabilities. It helps ensure the smooth functioning of the company's operations in Nassau, New York. 4. Project Finance Credit Agreement: In some cases, Southwest Royalties, Inc. may require funds for a specific project, such as expansion, equipment purchase, or research and development. This agreement allows them to borrow funds solely for the project's purposes, with repayment tied to the project's cash flows. 5. Standby Credit Agreement: A standby credit agreement acts as a backup line of credit for Southwest Royalties, Inc. in case of financial emergencies or short-term liquidity needs. It provides assurance to the company that funds will be available whenever required, offering financial flexibility. Keyword: Revolving Credit Agreement, Term Credit Agreement, Working Capital Credit Agreement, Project Finance Credit Agreement, Standby Credit Agreement It is important for both Southwest Royalties, Inc. and Bank One Texas to thoroughly review and understand the terms and conditions specified in the Nassau New York Credit Agreement. This ensures compliance and facilitates a mutually beneficial financial relationship, promoting the growth and success of Southwest Royalties, Inc.'s operations in Nassau, New York. Keyword: Terms and conditions, Compliance, Financial relationship, Growth and success