Nebraska Revolving Credit Loan and Security Agreement is a legally binding contract between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. It outlines the terms and conditions of a revolving credit facility provided by Dixon Ticonderoga Co. to Dixon Ticonderoga, Inc. This agreement enables Dixon Ticonderoga, Inc. to access a predetermined line of credit on an ongoing basis, allowing for flexibility in borrowing and repayments. Secured by collateral, this agreement ensures that Dixon Ticonderoga Co. has a claim on specific assets or property of Dixon Ticonderoga, Inc. in the event of default. The security agreement provides added protection to the lender, Dixon Ticonderoga Co., by allowing them to seize and sell the collateral to recover any outstanding amount owed by Dixon Ticonderoga, Inc. Different types of Nebraska Revolving Credit Loan and Security Agreements between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may include: 1. General Revolving Credit Loan and Security Agreement: This type of agreement is the most common, where Dixon Ticonderoga, Inc. can borrow and repay funds within the predetermined credit limit. 2. Revolving Credit Loan and Security Agreement with Revolving Line of Credit Enhancement: In this case, the agreement may have an added feature of revolving line of credit enhancement, which allows Dixon Ticonderoga, Inc. to increase the credit limit under certain conditions or after meeting specific requirements. 3. Fully Secured Revolving Credit Loan and Security Agreement: This agreement may involve a higher level of lateralization, ensuring that Dixon Ticonderoga Co. has additional security in case of default by Dixon Ticonderoga, Inc. 4. Revolving Credit Loan and Security Agreement with Floating Interest Rate: Some agreements may include a provision for a floating interest rate, which means the interest rate on the loan may vary over time, based on market conditions or other predetermined factors. Overall, the Nebraska Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. provides a flexible and secure financing solution to the borrower while safeguarding the lender's interests. It allows Dixon Ticonderoga, Inc. to access funds when needed, repay them at their convenience, and ensures that Dixon Ticonderoga Co. has suitable collateral in place to mitigate the risk of default.
Nebraska Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.
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