New Jersey 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 A New Jersey Revolving Credit Loan and Security Agreement is a legal document that defines the terms and conditions under which Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. can access revolving credit and provide necessary security for the loan in the state of New Jersey. This agreement allows the borrowing company to borrow funds up to a pre-approved credit limit and repay the borrowed amount multiple times within a specific period. The purpose of a revolving credit loan is to provide a flexible source of financing for a business's short-term needs, such as inventory purchases, operational expenses, or managing cash flow fluctuations. This type of loan is an excellent solution for businesses that require frequent access to funds but may not have a consistenstream of revenue. The New Jersey Revolving Credit Loan and Security Agreement typically outline key elements such as the loan amount, the interest rate or cost of borrowing, repayment terms, and any collateral or security required. The agreement may also include provisions on late payment penalties, default terms, and the rights and obligations of both Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Different types of New Jersey Revolving Credit Loan and Security Agreements between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may include: 1. Traditional Revolving Credit Agreement: This is a standard agreement providing the borrowing company with access to a revolving line of credit, subject to specific terms and conditions. 2. Secured Revolving Credit Agreement: In this type of agreement, the borrowing company offers certain assets, such as accounts receivable or inventory, as collateral to secure the loan. This provides an extra layer of security for the lender in case of default. 3. Unsecured Revolving Credit Agreement: Unlike the secured agreement, this type of loan does not require the borrowing company to pledge any specific assets as collateral. However, the interest rates for unsecured loans may be higher, reflecting the lender's higher risk. 4. Cash Secured Revolving Credit Agreement: Here, the borrowing company provides the lender with a certain amount of cash as collateral. This cash may be held in a separate account and can be used to repay outstanding loan balances in case of default. 5. Asset-Based Revolving Credit Agreement: In this type of agreement, the loan amount is determined based on the value of the borrowing company's eligible assets, such as accounts receivable, inventory, or equipment. Overall, a New Jersey Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a flexible financing option that allows the business to access funds as needed, repay the borrowed amount, and use the credit line repeatedly during a specified period, with appropriate collateral and security arrangements.

A New Jersey Revolving Credit Loan and Security Agreement is a legal document that defines the terms and conditions under which Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. can access revolving credit and provide necessary security for the loan in the state of New Jersey. This agreement allows the borrowing company to borrow funds up to a pre-approved credit limit and repay the borrowed amount multiple times within a specific period. The purpose of a revolving credit loan is to provide a flexible source of financing for a business's short-term needs, such as inventory purchases, operational expenses, or managing cash flow fluctuations. This type of loan is an excellent solution for businesses that require frequent access to funds but may not have a consistenstream of revenue. The New Jersey Revolving Credit Loan and Security Agreement typically outline key elements such as the loan amount, the interest rate or cost of borrowing, repayment terms, and any collateral or security required. The agreement may also include provisions on late payment penalties, default terms, and the rights and obligations of both Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Different types of New Jersey Revolving Credit Loan and Security Agreements between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may include: 1. Traditional Revolving Credit Agreement: This is a standard agreement providing the borrowing company with access to a revolving line of credit, subject to specific terms and conditions. 2. Secured Revolving Credit Agreement: In this type of agreement, the borrowing company offers certain assets, such as accounts receivable or inventory, as collateral to secure the loan. This provides an extra layer of security for the lender in case of default. 3. Unsecured Revolving Credit Agreement: Unlike the secured agreement, this type of loan does not require the borrowing company to pledge any specific assets as collateral. However, the interest rates for unsecured loans may be higher, reflecting the lender's higher risk. 4. Cash Secured Revolving Credit Agreement: Here, the borrowing company provides the lender with a certain amount of cash as collateral. This cash may be held in a separate account and can be used to repay outstanding loan balances in case of default. 5. Asset-Based Revolving Credit Agreement: In this type of agreement, the loan amount is determined based on the value of the borrowing company's eligible assets, such as accounts receivable, inventory, or equipment. Overall, a New Jersey Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a flexible financing option that allows the business to access funds as needed, repay the borrowed amount, and use the credit line repeatedly during a specified period, with appropriate collateral and security arrangements.