Harris Texas Credit Agreement regarding extension of credit

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Harris
• Control #: US-EG-9453
• Format: Word; Rich Text

Description

Credit Agreement among Citadel Broadcasting Company, Citadel Communications Corporation, Certain Lenders, Credit Suisse First Boston, Finova Capital Corporation, first Union National Bank and Fleet National Bank regarding extension of credit in various Harris Texas Credit Agreement is a legal document that stipulates the terms and conditions between a lender and borrower in extending credit within the jurisdiction of Harris County, Texas. This Agreement outlines the obligations, rights, and responsibilities of both parties involved, ensuring a fair and transparent credit arrangement. Key aspects covered in the Harris Texas Credit Agreement include: 1. Parties Involved: The Agreement clearly identifies the lender and borrower, ensuring their legal identities and contact information are accurately mentioned. 2. Loan Amount and Purpose: The specific amount of credit extended by the lender to the borrower is outlined, along with the purpose for which the credit is being provided (e.g., personal expenses, business investment, mortgage, etc.). 3. Interest Rates: This section highlights the interest rate charged on the credit, either fixed or variable, and any applicable penalties or late fees in case of default. 4. Repayment Terms: The Agreement specifies the repayment schedule, including the terms, duration, and frequency of payments. It may include details on installment payments, balloon payments, or any other repayment structure agreed upon. 5. Security and Collateral: If the credit requires collateral to secure the loan, details regarding the specific assets pledged as security are included in this section. 6. Governing Law: The Harris Texas Credit Agreement will identify Harris County, Texas, as the jurisdiction where all disputes and legal matters arising from the agreement will be resolved, ensuring compliance with local laws. 7. Default and Remedies: This section outlines the consequences and actions that would be taken in case of borrower default, such as additional fees, collection efforts, or potential legal actions. 8. Personal Guarantees: In some cases, the Agreement may include a personal guarantee, where a third party agrees to be held accountable for the borrower's debts if they default on repayment. 9. Amendments and Termination: The agreement may specify the conditions under which the agreement can be amended or terminated, providing flexibility for both parties to accommodate changing circumstances. Different types of Harris Texas Credit Agreements regarding extension of credit may include: 1. Personal Loan Agreement: An agreement specifically tailored for individual borrowers seeking credit for personal purposes, such as debt consolidation, medical expenses, or education. 2. Business Credit Agreement: This type of agreement applies to businesses seeking financing for operational expenses, expansion, or capital investments. 3. Mortgage Loan Agreement: This agreement focuses on the extension of credit for real estate purchases, where the property itself is often used as collateral to secure the loan. 4. Revolving Credit Agreement: This type of agreement establishes a revolving line of credit that can be utilized multiple times within an agreed credit limit. It provides flexibility for borrowers who require ongoing access to credit, such as with credit cards or business lines of credit. In summary, the Harris Texas Credit Agreement is a comprehensive legal document that governs the extension of credit within Harris County, Texas. It ensures both lenders and borrowers have a clear understanding of their rights and responsibilities, promoting fair and transparent credit arrangements.

Harris Texas Credit Agreement is a legal document that stipulates the terms and conditions between a lender and borrower in extending credit within the jurisdiction of Harris County, Texas. This Agreement outlines the obligations, rights, and responsibilities of both parties involved, ensuring a fair and transparent credit arrangement. Key aspects covered in the Harris Texas Credit Agreement include: 1. Parties Involved: The Agreement clearly identifies the lender and borrower, ensuring their legal identities and contact information are accurately mentioned. 2. Loan Amount and Purpose: The specific amount of credit extended by the lender to the borrower is outlined, along with the purpose for which the credit is being provided (e.g., personal expenses, business investment, mortgage, etc.). 3. Interest Rates: This section highlights the interest rate charged on the credit, either fixed or variable, and any applicable penalties or late fees in case of default. 4. Repayment Terms: The Agreement specifies the repayment schedule, including the terms, duration, and frequency of payments. It may include details on installment payments, balloon payments, or any other repayment structure agreed upon. 5. Security and Collateral: If the credit requires collateral to secure the loan, details regarding the specific assets pledged as security are included in this section. 6. Governing Law: The Harris Texas Credit Agreement will identify Harris County, Texas, as the jurisdiction where all disputes and legal matters arising from the agreement will be resolved, ensuring compliance with local laws. 7. Default and Remedies: This section outlines the consequences and actions that would be taken in case of borrower default, such as additional fees, collection efforts, or potential legal actions. 8. Personal Guarantees: In some cases, the Agreement may include a personal guarantee, where a third party agrees to be held accountable for the borrower's debts if they default on repayment. 9. Amendments and Termination: The agreement may specify the conditions under which the agreement can be amended or terminated, providing flexibility for both parties to accommodate changing circumstances. Different types of Harris Texas Credit Agreements regarding extension of credit may include: 1. Personal Loan Agreement: An agreement specifically tailored for individual borrowers seeking credit for personal purposes, such as debt consolidation, medical expenses, or education. 2. Business Credit Agreement: This type of agreement applies to businesses seeking financing for operational expenses, expansion, or capital investments. 3. Mortgage Loan Agreement: This agreement focuses on the extension of credit for real estate purchases, where the property itself is often used as collateral to secure the loan. 4. Revolving Credit Agreement: This type of agreement establishes a revolving line of credit that can be utilized multiple times within an agreed credit limit. It provides flexibility for borrowers who require ongoing access to credit, such as with credit cards or business lines of credit. In summary, the Harris Texas Credit Agreement is a comprehensive legal document that governs the extension of credit within Harris County, Texas. It ensures both lenders and borrowers have a clear understanding of their rights and responsibilities, promoting fair and transparent credit arrangements.