Credit Facility Agreement
1. Introduction
This Credit Facility Agreement (the "Agreement") is made and entered into by and between the following parties:
Lender: Blitzcraft, a corporation organized and existing under the laws of Texas, with its principal office located at Lubbock, TX 79401.
Borrower: MaraTime, a corporation organized and existing under the laws of Texas, with its principal office located at Dallas, TX 85224.
2. Purpose
The purpose of this Agreement is to establish the terms and conditions under which the Lender will provide the Borrower with a credit facility (the "Facility"). The Facility is intended for [describe the purpose or use of the credit facility].
3. Terms and Conditions
3.1 Credit Limit
The Lender agrees to make available to the Borrower a revolving credit facility with a principal amount not exceeding [Credit Limit Amount] (the "Credit Limit").
3.2 Interest Rate
The borrowed amounts under this Facility shall accrue interest at a rate of [Interest Rate] per annum. Interest shall be calculated on a [describe method of interest calculation], and payable on [describe payment terms and frequency].
3.3 Repayment
The Borrower agrees to repay the principal amount of the Facility in accordance with the repayment schedule attached hereto as Schedule A. Early repayment may be made without penalty unless otherwise specified in this Agreement.
3.4 Fees and Expenses
All costs, fees, and expenses related to the processing and maintenance of this Facility shall be borne by the Borrower, including but not limited to origination fees, appraisal fees, and legal expenses.
3.5 Security
The Facility shall be secured by [describe the security or collateral], which shall be detailed in a separate security agreement.
4. Representations and Warranties
4.1 Borrower's Representations
The Borrower represents and warrants that:
It is duly organized, validly existing, and in good standing under the laws of its jurisdiction;
It has the power and authority to enter into and perform this Agreement;
No event of default has occurred, and the execution of this Agreement will not result in an event of default;
All information provided to the Lender is true, complete, and accurate.
5. Events of Default
Events of default shall include, but are not limited to, failure to make payments when due, breach of any term of this Agreement, insolvency, or any material adverse change in the financial condition of the Borrower.
6. Governing Law and Jurisdiction
This Agreement shall be governed by and construed in accordance with the laws of [Governing Law Jurisdiction]. Any disputes arising from this Agreement shall be subject to the exclusive jurisdiction of the courts of [Jurisdiction].
7. Miscellaneous
7.1 Amendments
This Agreement may be amended only by a written instrument executed by both parties.
7.2 Notices
All notices and other communications hereunder shall be in writing and shall be deemed given when delivered personally, sent by reputable courier service, or mailed by registered or certified mail to the addresses specified above.
7.3 Entire Agreement
This Agreement constitutes the entire agreement between the parties hereto regarding the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written.
Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Credit Facility Agreement as of the date first above written.
Party A:
Party B:
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