New Mexico 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 New Mexico Revolving Credit Loan and Security Agreement: A Comprehensive Overview In the state of New Mexico, the Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. offers a flexible financial solution to facilitate business operations and ensure stability. This agreement protects the rights and interests of both entities involved by outlining the terms, conditions, and obligations related to the revolving credit facility and the security provided. Keywords: New Mexico, Revolving Credit Loan, Security Agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc. The New Mexico Revolving Credit Loan and Security Agreement is a legal document that establishes a line of credit for Dixon Ticonderoga Co. (the lender) to provide funds to Dixon Ticonderoga, Inc. (the borrower), subject to certain predefined conditions. This agreement is specifically designed to meet the financial needs of the borrower while ensuring the lender's investment remains secure. The primary purpose of a revolving credit loan is to provide continual access to funds within an approved credit limit. Unlike traditional term loans, this type of credit facility allows the borrower to borrow, repay, and re-borrow as needed without going through a new loan approval process each time. The borrower can use the funds to support various business activities, such as purchasing inventory, managing cash flow, or investing in expansion. The New Mexico Revolving Credit Loan and Security Agreement outlines essential aspects such as: 1. Loan Amount and Credit Limit: This clause specifies the maximum amount that the lender is willing to provide to the borrower, referred to as the credit limit. It ensures that Dixon Ticonderoga, Inc. has access to an agreed-upon amount of funds whenever needed. 2. Interest Rates: The agreement defines the interest rate applicable to the borrowed amount. This rate can be fixed or variable, depending on the terms negotiated between the lender and the borrower. 3. Repayment Terms: The agreement details the repayment terms, including the frequency and amount of the scheduled payments. The borrower may have the option to make minimum monthly payments or choose a lump-sum payment at the end of each borrowing cycle, commonly known as the revolving period. 4. Collateral and Security: To secure the loan, Dixon Ticonderoga, Inc. provides collateral, which can include real estate, equipment, or inventory. This collateral serves as an asset that the lender can claim in the event of default, ensuring the repayment of the outstanding balance. 5. Default and Remedies: The agreement outlines the consequences in case of default, such as late payments or failure to meet other contractual obligations. It specifies the remedies available to the lender, including the right to accelerate repayment, seize collateral, or take legal action. 6. Termination and Amendment: This section covers the circumstances under which the agreement can be terminated or amended. It ensures that both parties can modify the terms by mutual consent or terminate the agreement upon meeting specific conditions. In summary, the New Mexico Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. acts as a financial framework that allows the borrower to access funds up to a predetermined credit limit, repay as per agreed terms, and provide collateral to secure the loan. By understanding the nuances of this agreement, both parties can engage in a business relationship backed by legal protection and structured financing. Different types of New Mexico Revolving Credit Loan and Security Agreements: 1. Standard Revolving Credit Loan: This is the primary type of agreement that outlines the general terms and conditions for accessing revolving credit between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. It covers the basic structure of the revolving credit facility and the associated security measures. 2. Revolving Credit Loan with Variable Interest Rates: This agreement incorporates a variable interest rate, where the borrowing cost fluctuates based on market conditions or a specified index. This type of agreement provides flexibility but also exposes the borrower to interest rate volatility. 3. Secured Revolving Credit Loan: In this agreement, the lender requires specific collateral to secure the loan. This collateral may include real estate, accounts receivable, inventory, or any other valuable asset. Providing collateral reduces the lender's risk exposure and allows the borrower to access funds at a potentially lower interest rate. It is essential to note that the actual terms and conditions of the New Mexico Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may vary based on their specific negotiations, the industry, and the prevailing legal and financial regulations in the state of New Mexico.

New Mexico Revolving Credit Loan and Security Agreement: A Comprehensive Overview In the state of New Mexico, the Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. offers a flexible financial solution to facilitate business operations and ensure stability. This agreement protects the rights and interests of both entities involved by outlining the terms, conditions, and obligations related to the revolving credit facility and the security provided. Keywords: New Mexico, Revolving Credit Loan, Security Agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc. The New Mexico Revolving Credit Loan and Security Agreement is a legal document that establishes a line of credit for Dixon Ticonderoga Co. (the lender) to provide funds to Dixon Ticonderoga, Inc. (the borrower), subject to certain predefined conditions. This agreement is specifically designed to meet the financial needs of the borrower while ensuring the lender's investment remains secure. The primary purpose of a revolving credit loan is to provide continual access to funds within an approved credit limit. Unlike traditional term loans, this type of credit facility allows the borrower to borrow, repay, and re-borrow as needed without going through a new loan approval process each time. The borrower can use the funds to support various business activities, such as purchasing inventory, managing cash flow, or investing in expansion. The New Mexico Revolving Credit Loan and Security Agreement outlines essential aspects such as: 1. Loan Amount and Credit Limit: This clause specifies the maximum amount that the lender is willing to provide to the borrower, referred to as the credit limit. It ensures that Dixon Ticonderoga, Inc. has access to an agreed-upon amount of funds whenever needed. 2. Interest Rates: The agreement defines the interest rate applicable to the borrowed amount. This rate can be fixed or variable, depending on the terms negotiated between the lender and the borrower. 3. Repayment Terms: The agreement details the repayment terms, including the frequency and amount of the scheduled payments. The borrower may have the option to make minimum monthly payments or choose a lump-sum payment at the end of each borrowing cycle, commonly known as the revolving period. 4. Collateral and Security: To secure the loan, Dixon Ticonderoga, Inc. provides collateral, which can include real estate, equipment, or inventory. This collateral serves as an asset that the lender can claim in the event of default, ensuring the repayment of the outstanding balance. 5. Default and Remedies: The agreement outlines the consequences in case of default, such as late payments or failure to meet other contractual obligations. It specifies the remedies available to the lender, including the right to accelerate repayment, seize collateral, or take legal action. 6. Termination and Amendment: This section covers the circumstances under which the agreement can be terminated or amended. It ensures that both parties can modify the terms by mutual consent or terminate the agreement upon meeting specific conditions. In summary, the New Mexico Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. acts as a financial framework that allows the borrower to access funds up to a predetermined credit limit, repay as per agreed terms, and provide collateral to secure the loan. By understanding the nuances of this agreement, both parties can engage in a business relationship backed by legal protection and structured financing. Different types of New Mexico Revolving Credit Loan and Security Agreements: 1. Standard Revolving Credit Loan: This is the primary type of agreement that outlines the general terms and conditions for accessing revolving credit between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. It covers the basic structure of the revolving credit facility and the associated security measures. 2. Revolving Credit Loan with Variable Interest Rates: This agreement incorporates a variable interest rate, where the borrowing cost fluctuates based on market conditions or a specified index. This type of agreement provides flexibility but also exposes the borrower to interest rate volatility. 3. Secured Revolving Credit Loan: In this agreement, the lender requires specific collateral to secure the loan. This collateral may include real estate, accounts receivable, inventory, or any other valuable asset. Providing collateral reduces the lender's risk exposure and allows the borrower to access funds at a potentially lower interest rate. It is essential to note that the actual terms and conditions of the New Mexico Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may vary based on their specific negotiations, the industry, and the prevailing legal and financial regulations in the state of New Mexico.