The New Hampshire Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC is a legally binding contract outlining the terms and conditions of a revolving line of credit extended by ICE Holdings North America, LLC to PCSupport.com, Inc. This agreement facilitates the borrowing of funds by PCSupport.com, Inc. on an as-needed basis up to a pre-determined credit limit. Under this agreement, PCSupport.com, Inc. can access funds from the revolving line of credit, repay them, and then borrow again without the need for a separate loan application. This flexibility allows PCSupport.com, Inc. to manage their working capital needs efficiently and respond quickly to fluctuating business demands. The New Hampshire Revolving Credit Agreement specifies the following key terms and conditions: 1. Credit Limit: The maximum amount that PCSupport.com, Inc. can borrow under the agreement. 2. Interest Rate: The interest rate charged on the outstanding balance of the credit line. 3. Repayment Terms: The repayment schedule, including minimum monthly payments and any required balloon payments. 4. Fees: The fees associated with the credit line, such as annual fees, origination fees, or late payment fees. 5. Default and Remedies: The actions that ICE Holdings North America, LLC can take if PCSupport.com, Inc. fails to meet their obligations under the agreement, including accelerating the repayment of the outstanding balance and legal actions. 6. Termination: The conditions under which either party can terminate the agreement. While the specific terms and conditions may vary depending on the negotiated agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC, there are generally no different types of the New Hampshire Revolving Credit Agreement between the two entities. However, variations may occur in the terms and conditions based on the creditworthiness of PCSupport.com, Inc., market conditions, and the level of risk appetite of ICE Holdings North America, LLC. In conclusion, the New Hampshire Revolving Credit Agreement is a critical financing tool that allows PCSupport.com, Inc. to access funds as needed, providing the flexibility required to manage their working capital effectively. It is crucial for both parties to carefully review and understand the agreement's terms before execution to ensure a mutually beneficial and legally binding arrangement.
New Hampshire Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC
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