Houston Texas Underwriting Agreement between Advanta Equipment Receivable Series LLC and Advanta Bank Corporation

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• City: Houston
• Control #: US-EG-9171
• Format: Word; Rich Text

Description

Underwriting Agreement between Advanta Equipment Receivable Series 2000-_____ LLC and Advanta Bank Corp. dated 00/00. 14 pages Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation is a legally binding contract that outlines the terms and conditions of the underwriting process between the two entities. This agreement serves to ensure sound financial practices and protect the interests of both parties involved. As an underwriting agreement, it provides a framework for Advance Bank Corporation to purchase a specified number of equipment receivables from Advance Equipment Receivable Series LLC, thereby providing liquidity to Advance Equipment Receivable Series LLC. In return, Advance Bank Corporation assumes the financial risk associated with these receivables. The agreement details the obligations and responsibilities of both parties. It includes the terms of the purchase, including the purchase price for the equipment receivables and the agreed-upon payment schedule. It may also contain provisions regarding prepayment options, default, termination, and other relevant clauses. Additionally, this underwriting agreement may address issues such as representations and warranties made by Advance Equipment Receivable Series LLC regarding the quality and legitimacy of the equipment receivables. It may also specify the conditions under which Advance Bank Corporation can refuse to purchase certain receivables or request modifications to the agreement. It is important to note that there may be variations of the Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation, depending on the specific nature of the transaction. Some potential variations could include: 1. Standby Underwriting Agreement: This agreement type is applicable when Advance Bank Corporation commits to purchasing all unsold equipment receivables within a specified timeframe, providing Advance Equipment Receivable Series LLC with a safety net against potential financial losses. 2. Firm Commitment Underwriting Agreement: In this scenario, Advance Bank Corporation guarantees the purchase of a specific quantity of equipment receivables at the agreed-upon price, regardless of market conditions or the performance of the receivables. 3. The Best Efforts Underwriting Agreement: This agreement type stipulates that Advance Bank Corporation will use their best efforts to sell the equipment receivables to third-party investors. Unlike the previous variations, it does not guarantee the purchase of the receivables, making it a less binding commitment for Advance Bank Corporation. In conclusion, the Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation is a comprehensive contract that governs the underwriting process, ensuring mutually beneficial terms for both parties involved. By establishing clear guidelines, this agreement facilitates transparency and stability in the purchase and sale of equipment receivables, fostering a productive financial relationship.

Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation is a legally binding contract that outlines the terms and conditions of the underwriting process between the two entities. This agreement serves to ensure sound financial practices and protect the interests of both parties involved. As an underwriting agreement, it provides a framework for Advance Bank Corporation to purchase a specified number of equipment receivables from Advance Equipment Receivable Series LLC, thereby providing liquidity to Advance Equipment Receivable Series LLC. In return, Advance Bank Corporation assumes the financial risk associated with these receivables. The agreement details the obligations and responsibilities of both parties. It includes the terms of the purchase, including the purchase price for the equipment receivables and the agreed-upon payment schedule. It may also contain provisions regarding prepayment options, default, termination, and other relevant clauses. Additionally, this underwriting agreement may address issues such as representations and warranties made by Advance Equipment Receivable Series LLC regarding the quality and legitimacy of the equipment receivables. It may also specify the conditions under which Advance Bank Corporation can refuse to purchase certain receivables or request modifications to the agreement. It is important to note that there may be variations of the Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation, depending on the specific nature of the transaction. Some potential variations could include: 1. Standby Underwriting Agreement: This agreement type is applicable when Advance Bank Corporation commits to purchasing all unsold equipment receivables within a specified timeframe, providing Advance Equipment Receivable Series LLC with a safety net against potential financial losses. 2. Firm Commitment Underwriting Agreement: In this scenario, Advance Bank Corporation guarantees the purchase of a specific quantity of equipment receivables at the agreed-upon price, regardless of market conditions or the performance of the receivables. 3. The Best Efforts Underwriting Agreement: This agreement type stipulates that Advance Bank Corporation will use their best efforts to sell the equipment receivables to third-party investors. Unlike the previous variations, it does not guarantee the purchase of the receivables, making it a less binding commitment for Advance Bank Corporation. In conclusion, the Houston Texas Underwriting Agreement between Advance Equipment Receivable Series LLC and Advance Bank Corporation is a comprehensive contract that governs the underwriting process, ensuring mutually beneficial terms for both parties involved. By establishing clear guidelines, this agreement facilitates transparency and stability in the purchase and sale of equipment receivables, fostering a productive financial relationship.