North Dakota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9009
• Format: Word; Rich Text

Description

3rd Mod. of Am./Rest. Revolving Credit Loan & Sec. Agr., Am. to Loan Docs./ Assign. btwn Dixon Ticonderga Co. & Dixon Ticonderga, Inc. dated Sep. 30, 1999. 17 pages The North Dakota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document that establishes a financial arrangement between the two entities. This agreement provides the necessary framework for a revolving credit loan facility, allowing Dixon Ticonderoga, Inc. to access funds up to a specified credit limit. The primary objective of this agreement is to create a flexible and ongoing credit line for Dixon Ticonderoga, Inc. that can be drawn upon whenever the need arises. This revolving credit loan has significant advantages, as it provides the borrower with immediate access to funds, eliminating the need for repetitive loan applications. The agreement outlines various terms and conditions that govern the borrowing relationship. It covers vital aspects such as the interest rate charged on the outstanding balance, repayment terms, collateral requirements, and any applicable fees. These terms are agreed upon by both parties to ensure a fair and mutually beneficial arrangement. The North Dakota Revolving Credit Loan and Security Agreement may contain different types or variations, depending on the specific requirements and circumstances of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Some possible variations include: 1. Unsecured Revolving Credit Loan: In this type of agreement, no specific collateral is required to secure the credit line. Instead, Dixon Ticonderoga, Inc. demonstrates its creditworthiness, financial stability, and ability to repay through other means, such as its financial statements or credit history. 2. Secured Revolving Credit Loan: This type of agreement necessitates the borrower, Dixon Ticonderoga, Inc., to provide specific assets as collateral to secure the credit facility. These assets may include real estate, equipment, inventory, or accounts receivable. In the event of default, the lender, Dixon Ticonderoga Co., can seize and sell these assets to recover the outstanding loan balance. 3. Term Revolving Credit Loan: This variation provides a specific time frame within which Dixon Ticonderoga, Inc. must draw down and repay the credit line. The agreement stipulates the duration of the loan facility and sets a fixed repayment schedule, ensuring that the borrower meets their obligations within the established timeframe. It is important for Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. to carefully review and negotiate the terms and conditions mentioned in the North Dakota Revolving Credit Loan and Security Agreement. Both parties should ensure that the agreement aligns with their respective interests and financial goals. Seeking legal counsel is recommended to ensure compliance with state laws and regulations.

The North Dakota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document that establishes a financial arrangement between the two entities. This agreement provides the necessary framework for a revolving credit loan facility, allowing Dixon Ticonderoga, Inc. to access funds up to a specified credit limit. The primary objective of this agreement is to create a flexible and ongoing credit line for Dixon Ticonderoga, Inc. that can be drawn upon whenever the need arises. This revolving credit loan has significant advantages, as it provides the borrower with immediate access to funds, eliminating the need for repetitive loan applications. The agreement outlines various terms and conditions that govern the borrowing relationship. It covers vital aspects such as the interest rate charged on the outstanding balance, repayment terms, collateral requirements, and any applicable fees. These terms are agreed upon by both parties to ensure a fair and mutually beneficial arrangement. The North Dakota Revolving Credit Loan and Security Agreement may contain different types or variations, depending on the specific requirements and circumstances of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Some possible variations include: 1. Unsecured Revolving Credit Loan: In this type of agreement, no specific collateral is required to secure the credit line. Instead, Dixon Ticonderoga, Inc. demonstrates its creditworthiness, financial stability, and ability to repay through other means, such as its financial statements or credit history. 2. Secured Revolving Credit Loan: This type of agreement necessitates the borrower, Dixon Ticonderoga, Inc., to provide specific assets as collateral to secure the credit facility. These assets may include real estate, equipment, inventory, or accounts receivable. In the event of default, the lender, Dixon Ticonderoga Co., can seize and sell these assets to recover the outstanding loan balance. 3. Term Revolving Credit Loan: This variation provides a specific time frame within which Dixon Ticonderoga, Inc. must draw down and repay the credit line. The agreement stipulates the duration of the loan facility and sets a fixed repayment schedule, ensuring that the borrower meets their obligations within the established timeframe. It is important for Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. to carefully review and negotiate the terms and conditions mentioned in the North Dakota Revolving Credit Loan and Security Agreement. Both parties should ensure that the agreement aligns with their respective interests and financial goals. Seeking legal counsel is recommended to ensure compliance with state laws and regulations.