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

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

Description

This is a multi-state form covering the subject matter of the title. Wake North Carolina Credit Agreement is a legal document outlining the terms and conditions of a financial arrangement between Southwest Royalties, Inc. and Bank One Texas. This agreement aims to establish a credit relationship between the two parties, allowing Southwest Royalties to borrow funds from Bank One Texas for various purposes. One type of Wake North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a revolving credit agreement. Under this agreement, Southwest Royalties has the flexibility to borrow funds up to a specified credit limit over a defined period. The borrowed amount can be repaid and borrowed again multiple times during the agreed term, based on the company's financial needs. This type of agreement is commonly used by businesses to manage their short-term cash flow requirements and fund ongoing operations and investments. Another type of Wake North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a term loan agreement. Unlike a revolving credit agreement, a term loan agreement provides Southwest Royalties with a lump sum of money borrowed from Bank One Texas. The loan is typically repaid in installments over a predetermined period, along with accrued interest. This type of agreement is commonly used for financing specific projects, capital expenditures, or acquisitions. The Wake North Carolina Credit Agreement includes various key elements, such as the principal amount of credit, the interest rate, repayment terms, any collateral or guarantees provided by Southwest Royalties, and the events of default and remedies available to Bank One Texas in case of non-compliance. Additionally, the agreement may outline any fees, charges, and conditions associated with the credit facility. Both Southwest Royalties, Inc. and Bank One Texas agree to abide by the terms of the Wake North Carolina Credit Agreement, ensuring transparency, trust, and commitment to the financial obligations. This agreement serves as a legal safeguard for both parties and helps facilitate a smooth and mutually beneficial credit relationship.

Wake North Carolina Credit Agreement is a legal document outlining the terms and conditions of a financial arrangement between Southwest Royalties, Inc. and Bank One Texas. This agreement aims to establish a credit relationship between the two parties, allowing Southwest Royalties to borrow funds from Bank One Texas for various purposes. One type of Wake North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a revolving credit agreement. Under this agreement, Southwest Royalties has the flexibility to borrow funds up to a specified credit limit over a defined period. The borrowed amount can be repaid and borrowed again multiple times during the agreed term, based on the company's financial needs. This type of agreement is commonly used by businesses to manage their short-term cash flow requirements and fund ongoing operations and investments. Another type of Wake North Carolina Credit Agreement between Southwest Royalties, Inc. and Bank One Texas is a term loan agreement. Unlike a revolving credit agreement, a term loan agreement provides Southwest Royalties with a lump sum of money borrowed from Bank One Texas. The loan is typically repaid in installments over a predetermined period, along with accrued interest. This type of agreement is commonly used for financing specific projects, capital expenditures, or acquisitions. The Wake North Carolina Credit Agreement includes various key elements, such as the principal amount of credit, the interest rate, repayment terms, any collateral or guarantees provided by Southwest Royalties, and the events of default and remedies available to Bank One Texas in case of non-compliance. Additionally, the agreement may outline any fees, charges, and conditions associated with the credit facility. Both Southwest Royalties, Inc. and Bank One Texas agree to abide by the terms of the Wake North Carolina Credit Agreement, ensuring transparency, trust, and commitment to the financial obligations. This agreement serves as a legal safeguard for both parties and helps facilitate a smooth and mutually beneficial credit relationship.