District of Columbia Term Loan Agreement

• Category: Corporations - Public - Loans
• State: Multi-State
• Control #: US-EG-9010
• Format: Word; Rich Text

Description

1st Modification of Amended and Restated Term Loan Agr. and Assignment btwn Dixon Ticonderga Co. and Dixon Ticonderga, Inc. dated September 30, 1999. 11 pages The District of Columbia Term Loan Agreement is a legally binding contract that outlines the terms and conditions between a borrower and a lender in the District of Columbia. This agreement is commonly used when one party, typically a business or organization, needs to secure a loan for a specific period of time. The District of Columbia Term Loan Agreement governs the borrowing of a fixed amount of money, known as the principal, which is expected to be repaid with interest over an agreed-upon term. This type of loan agreement allows borrowers to have access to a lump sum of cash that can be used for various purposes, such as funding business operations, financing growth initiatives, or even personal expenses. The agreement typically contains several key elements, including: 1. Parties involved: The names and contact information of both the borrower and the lender, along with any relevant legal entities or representatives. 2. Loan amount and disbursement: The specific amount of money being borrowed, as well as the method and timing of disbursement. This may involve a lump sum payment or multiple installments. 3. Interest rate and repayment terms: The interest rate at which the loan will be charged, and the schedule for repaying the principal along with the interest accrued. This can be done through regular payments (monthly, quarterly, etc.) or with a single balloon payment at the end of the term. 4. Collateral and guarantees: If the loan is secured, the agreement may outline the collateral offered as security for the loan. It could include assets, property, or any other valuable item that can be seized by the lender in case of default. Additionally, any personal guarantees or co-signers may be documented here. 5. Default and remedies: This section specifies the actions that can be taken by the lender in the event of borrower default. This may include penalties, late fees, acceleration of the payment schedule, or legal consequences such as foreclosure or repossession. While there may not be different types of District of Columbia Term Loan Agreements in terms of their structure or format, they can vary based on the purpose of the loan, its duration, or the specific requirements of the parties involved. For example, a term loan agreement may be tailored for a small business looking to purchase equipment, a real estate developer seeking funds for a construction project, or an individual seeking a personal loan for debt consolidation. Overall, the District of Columbia Term Loan Agreement is a crucial legal document that enables borrowers and lenders to establish clear expectations and protect their respective interests when entering into a loan agreement in the District of Columbia.

The District of Columbia Term Loan Agreement is a legally binding contract that outlines the terms and conditions between a borrower and a lender in the District of Columbia. This agreement is commonly used when one party, typically a business or organization, needs to secure a loan for a specific period of time. The District of Columbia Term Loan Agreement governs the borrowing of a fixed amount of money, known as the principal, which is expected to be repaid with interest over an agreed-upon term. This type of loan agreement allows borrowers to have access to a lump sum of cash that can be used for various purposes, such as funding business operations, financing growth initiatives, or even personal expenses. The agreement typically contains several key elements, including: 1. Parties involved: The names and contact information of both the borrower and the lender, along with any relevant legal entities or representatives. 2. Loan amount and disbursement: The specific amount of money being borrowed, as well as the method and timing of disbursement. This may involve a lump sum payment or multiple installments. 3. Interest rate and repayment terms: The interest rate at which the loan will be charged, and the schedule for repaying the principal along with the interest accrued. This can be done through regular payments (monthly, quarterly, etc.) or with a single balloon payment at the end of the term. 4. Collateral and guarantees: If the loan is secured, the agreement may outline the collateral offered as security for the loan. It could include assets, property, or any other valuable item that can be seized by the lender in case of default. Additionally, any personal guarantees or co-signers may be documented here. 5. Default and remedies: This section specifies the actions that can be taken by the lender in the event of borrower default. This may include penalties, late fees, acceleration of the payment schedule, or legal consequences such as foreclosure or repossession. While there may not be different types of District of Columbia Term Loan Agreements in terms of their structure or format, they can vary based on the purpose of the loan, its duration, or the specific requirements of the parties involved. For example, a term loan agreement may be tailored for a small business looking to purchase equipment, a real estate developer seeking funds for a construction project, or an individual seeking a personal loan for debt consolidation. Overall, the District of Columbia Term Loan Agreement is a crucial legal document that enables borrowers and lenders to establish clear expectations and protect their respective interests when entering into a loan agreement in the District of Columbia.