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

• Category: Corporations - Public - Credit
• State: Multi-State
• City: San Antonio
• Control #: US-EG-9032
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. A San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a legally binding document that outlines the terms and conditions under which Bank One Texas provides credit facilities to Southwest Royalties, Inc., a company operating in San Antonio, Texas. This agreement is crucial as it helps facilitate the financial activities and growth of Southwest Royalties, Inc. by providing access to necessary funds. The agreement specifies the maximum credit limit, terms of repayment, interest rates, and any collateral or guarantees required by Bank One Texas to secure the credit facility. It also outlines the responsibilities and obligations of both parties involved. Some key features covered in a San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas may include: 1. Credit Limit: The agreement sets the maximum amount of credit Southwest Royalties, Inc. can avail from Bank One Texas. This limit is determined based on the company's financial standing, creditworthiness, and potential repayment capabilities. 2. Interest Rates: The agreement defines the applicable interest rates charged on the credit facility. These rates may vary based on market conditions, the type of credit facility, and the terms negotiated between both parties. 3. Repayment Terms: It specifies the repayment schedule, including the period within which Southwest Royalties, Inc. needs to repay the borrowed funds. This may be in the form of regular installments or a lump-sum payment. 4. Collateral and Guarantees: Bank One Texas might require Southwest Royalties, Inc. to provide collateral or guarantees to secure its credit facility. This can include assets, real estate, or personal guarantees from company owners or directors. 5. Conditions and Covenants: The agreement might contain specific conditions and covenants that Southwest Royalties, Inc. needs to comply with during the credit facility term. This can include maintaining a certain debt-to-equity ratio, providing periodic financial statements, or seeking bank consent for major financial decisions. 6. Default and Remedies: The agreement outlines the consequences if Southwest Royalties, Inc. fails to meet its obligations, such as missing repayments or breaching the agreed-upon covenants. It also details the remedies available to Bank One Texas in case of default, which can include charging late fees, demanding immediate repayment, or even taking legal action. 7. Amendments and Termination: The agreement outlines the process for making any changes or amendments to the initial terms, as well as the conditions under which either party may terminate the agreement. While there might not be different types of San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas, each agreement is typically tailored to fit the specific financial requirements and circumstances of Southwest Royalties, Inc. The agreement terms and conditions may vary based on the nature of credit facility required, the company's financial health, and the overall risk assessment conducted by Bank One Texas. Important keywords for this topic include San Antonio Texas, Credit Agreement, Southwest Royalties, Inc., Bank One Texas, credit limit, interest rates, repayment terms, collateral, guarantees, conditions, covenants, default, remedies, amendments, termination.

A San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a legally binding document that outlines the terms and conditions under which Bank One Texas provides credit facilities to Southwest Royalties, Inc., a company operating in San Antonio, Texas. This agreement is crucial as it helps facilitate the financial activities and growth of Southwest Royalties, Inc. by providing access to necessary funds. The agreement specifies the maximum credit limit, terms of repayment, interest rates, and any collateral or guarantees required by Bank One Texas to secure the credit facility. It also outlines the responsibilities and obligations of both parties involved. Some key features covered in a San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas may include: 1. Credit Limit: The agreement sets the maximum amount of credit Southwest Royalties, Inc. can avail from Bank One Texas. This limit is determined based on the company's financial standing, creditworthiness, and potential repayment capabilities. 2. Interest Rates: The agreement defines the applicable interest rates charged on the credit facility. These rates may vary based on market conditions, the type of credit facility, and the terms negotiated between both parties. 3. Repayment Terms: It specifies the repayment schedule, including the period within which Southwest Royalties, Inc. needs to repay the borrowed funds. This may be in the form of regular installments or a lump-sum payment. 4. Collateral and Guarantees: Bank One Texas might require Southwest Royalties, Inc. to provide collateral or guarantees to secure its credit facility. This can include assets, real estate, or personal guarantees from company owners or directors. 5. Conditions and Covenants: The agreement might contain specific conditions and covenants that Southwest Royalties, Inc. needs to comply with during the credit facility term. This can include maintaining a certain debt-to-equity ratio, providing periodic financial statements, or seeking bank consent for major financial decisions. 6. Default and Remedies: The agreement outlines the consequences if Southwest Royalties, Inc. fails to meet its obligations, such as missing repayments or breaching the agreed-upon covenants. It also details the remedies available to Bank One Texas in case of default, which can include charging late fees, demanding immediate repayment, or even taking legal action. 7. Amendments and Termination: The agreement outlines the process for making any changes or amendments to the initial terms, as well as the conditions under which either party may terminate the agreement. While there might not be different types of San Antonio Texas Credit Agreement between Southwest Royalties, Inc. and Bank One Texas, each agreement is typically tailored to fit the specific financial requirements and circumstances of Southwest Royalties, Inc. The agreement terms and conditions may vary based on the nature of credit facility required, the company's financial health, and the overall risk assessment conducted by Bank One Texas. Important keywords for this topic include San Antonio Texas, Credit Agreement, Southwest Royalties, Inc., Bank One Texas, credit limit, interest rates, repayment terms, collateral, guarantees, conditions, covenants, default, remedies, amendments, termination.