Contra Costa California Post-Petition Loan and Security Agreement between Various Financial Institutions regarding revolving line of credit

• Category: Corporations - Public - Loans
• State: Multi-State
• County: Contra Costa
• Control #: US-EG-9368
• Format: Word; Rich Text

Description

Post-Petition Loan and Security Agreement between Various Financial Institutions, Bank of America, N.A., Fruit of the Loom, Inc., Fruit of the Loom, Ltd. and Domestic Subsidiaries of Fruit of the Loom, Inc. regarding revolving line of credit dated Contra Costa California Post-Petition Loan and Security Agreement between Various Financial Institutions pertaining to a revolving line of credit is a legal contract that outlines the terms and conditions for borrowing funds from multiple financial institutions within the Contra Costa County in the state of California. This agreement is usually designed for businesses that have recently filed for bankruptcy protection under Chapter 11. The purpose of this agreement is to provide immediate post-petition financing to the debtor company, enabling it to continue its operations and fulfill its financial obligations during the reorganization process. By securing a revolving line of credit, the debtor company can access funds up to a predetermined credit limit, which can be used for working capital, paying operating expenses, procuring inventory, and managing its day-to-day financial needs. Key provisions within the Contra Costa California Post-Petition Loan and Security Agreement include the borrowing limit, interest rates, repayment terms, security interests, collateral requirements, reporting obligations, default conditions, fees, and conditions for future funding. Various financial institutions are involved in this agreement, such as banks, credit unions, or other lending institutions, which provide the necessary funds. These financial institutions collaborate to collectively offer this post-petition financing package to the debtor company, allowing them to access a more substantial pool of funds compared to relying on a single lender. It is important to note that there may be different types of Contra Costa California Post-Petition Loan and Security Agreements available, depending on the specific circumstances and the participating financial institutions. Examples of such agreements could include limited revolving lines of credit, which have a predetermined borrowing limit that cannot be exceeded, or non-recourse revolving lines of credit, where the debtor's personal liability is limited to the collateral securing the loan. In summary, the Contra Costa California Post-Petition Loan and Security Agreement between Various Financial Institutions regarding revolving lines of credit enables businesses undergoing Chapter 11 bankruptcy to access vital financing, facilitating their restructuring and ensuring continuity of operations. This agreement outlines the terms for borrowing funds and the responsibilities of both the debtor company and the participating financial institutions.

Contra Costa California Post-Petition Loan and Security Agreement between Various Financial Institutions pertaining to a revolving line of credit is a legal contract that outlines the terms and conditions for borrowing funds from multiple financial institutions within the Contra Costa County in the state of California. This agreement is usually designed for businesses that have recently filed for bankruptcy protection under Chapter 11. The purpose of this agreement is to provide immediate post-petition financing to the debtor company, enabling it to continue its operations and fulfill its financial obligations during the reorganization process. By securing a revolving line of credit, the debtor company can access funds up to a predetermined credit limit, which can be used for working capital, paying operating expenses, procuring inventory, and managing its day-to-day financial needs. Key provisions within the Contra Costa California Post-Petition Loan and Security Agreement include the borrowing limit, interest rates, repayment terms, security interests, collateral requirements, reporting obligations, default conditions, fees, and conditions for future funding. Various financial institutions are involved in this agreement, such as banks, credit unions, or other lending institutions, which provide the necessary funds. These financial institutions collaborate to collectively offer this post-petition financing package to the debtor company, allowing them to access a more substantial pool of funds compared to relying on a single lender. It is important to note that there may be different types of Contra Costa California Post-Petition Loan and Security Agreements available, depending on the specific circumstances and the participating financial institutions. Examples of such agreements could include limited revolving lines of credit, which have a predetermined borrowing limit that cannot be exceeded, or non-recourse revolving lines of credit, where the debtor's personal liability is limited to the collateral securing the loan. In summary, the Contra Costa California Post-Petition Loan and Security Agreement between Various Financial Institutions regarding revolving lines of credit enables businesses undergoing Chapter 11 bankruptcy to access vital financing, facilitating their restructuring and ensuring continuity of operations. This agreement outlines the terms for borrowing funds and the responsibilities of both the debtor company and the participating financial institutions.