Title: Understanding the Oregon Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC Introduction: The Oregon Revolving Credit Agreement is a crucial financial arrangement established between PCSupport.com, Inc. and ICE Holdings North America, LLC. This comprehensive contract governs the terms and conditions under which PCSupport.com can access a revolving line of credit provided by ICE Holdings North America. Let's delve into the details and explore the various types of Oregon Revolving Credit Agreements within this partnership. Key Features of the Oregon Revolving Credit Agreement: 1. Nature of the Agreement: The Oregon Revolving Credit Agreement is a legally binding document that outlines the terms, covenants, and interest rates associated with the revolving line of credit. 2. Parties Involved: The primary parties to the agreement are PCSupport.com, Inc., a company in need of financial assistance, and ICE Holdings North America, LLC, an entity offering the revolving line of credit facilities. 3. Revolving Line of Credit: Under this agreement, PCSupport.com, Inc. gains access to a predetermined credit limit, allowing them to borrow funds as needed. It functions much like a credit card, where the borrower can borrow, repay, and re-borrow up to the approved limit. 4. Interest Rates: The agreement will outline the interest rates that will be charged on the outstanding revolving credit balance. These rates may be fixed or variable, depending on the specific terms agreed upon by the two parties. 5. Repayment Terms: The Oregon Revolving Credit Agreement will specify the repayment terms, including the timeline, frequency, and method of repayment chosen by PCSupport.com. These can include regular installments or a minimum payment requirement. 6. Collateral Requirements: In some cases, the agreement may require PCSupport.com, Inc. to provide collateral for the revolving line of credit. Collateral acts as security for the lender in case of default by the borrower. Types of Oregon Revolving Credit Agreements: 1. Secured Revolving Credit Agreement: This type of agreement requires PCSupport.com, Inc. to offer valuable assets as collateral against the revolving credit line. In the event of non-payment or default, ICE Holdings North America, LLC has the right to claim and liquidate the specified collateral. 2. Unsecured Revolving Credit Agreement: An unsecured revolving credit agreement does not require PCSupport.com, Inc. to provide any collateral. In this case, the creditworthiness of PCSupport.com and other related factors will largely determine the terms and borrowing limits. 3. Variable Interest Rate Revolving Credit Agreement: Under this agreement, the interest rate charged on the revolving credit balance can fluctuate over time. The rate often adjusts according to market conditions or other predetermined factors, introducing potential variation in the interest rate costs borne by PCSupport.com, Inc. Conclusion: The Oregon Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC is a vital financial arrangement that provides PCSupport.com, Inc. with a flexible source of funding. By clearly outlining the terms, payment conditions, and available types of agreements, both parties can establish a sustainable and mutually beneficial financial relationship.
Oregon Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC
Category:
State:
Multi-State
Control #:
US-EG-9422
Format:
Word;
Rich Text
Instant download
Description
Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC dated January 11, 2000. 70 pages.
Title: Understanding the Oregon Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC Introduction: The Oregon Revolving Credit Agreement is a crucial financial arrangement established between PCSupport.com, Inc. and ICE Holdings North America, LLC. This comprehensive contract governs the terms and conditions under which PCSupport.com can access a revolving line of credit provided by ICE Holdings North America. Let's delve into the details and explore the various types of Oregon Revolving Credit Agreements within this partnership. Key Features of the Oregon Revolving Credit Agreement: 1. Nature of the Agreement: The Oregon Revolving Credit Agreement is a legally binding document that outlines the terms, covenants, and interest rates associated with the revolving line of credit. 2. Parties Involved: The primary parties to the agreement are PCSupport.com, Inc., a company in need of financial assistance, and ICE Holdings North America, LLC, an entity offering the revolving line of credit facilities. 3. Revolving Line of Credit: Under this agreement, PCSupport.com, Inc. gains access to a predetermined credit limit, allowing them to borrow funds as needed. It functions much like a credit card, where the borrower can borrow, repay, and re-borrow up to the approved limit. 4. Interest Rates: The agreement will outline the interest rates that will be charged on the outstanding revolving credit balance. These rates may be fixed or variable, depending on the specific terms agreed upon by the two parties. 5. Repayment Terms: The Oregon Revolving Credit Agreement will specify the repayment terms, including the timeline, frequency, and method of repayment chosen by PCSupport.com. These can include regular installments or a minimum payment requirement. 6. Collateral Requirements: In some cases, the agreement may require PCSupport.com, Inc. to provide collateral for the revolving line of credit. Collateral acts as security for the lender in case of default by the borrower. Types of Oregon Revolving Credit Agreements: 1. Secured Revolving Credit Agreement: This type of agreement requires PCSupport.com, Inc. to offer valuable assets as collateral against the revolving credit line. In the event of non-payment or default, ICE Holdings North America, LLC has the right to claim and liquidate the specified collateral. 2. Unsecured Revolving Credit Agreement: An unsecured revolving credit agreement does not require PCSupport.com, Inc. to provide any collateral. In this case, the creditworthiness of PCSupport.com and other related factors will largely determine the terms and borrowing limits. 3. Variable Interest Rate Revolving Credit Agreement: Under this agreement, the interest rate charged on the revolving credit balance can fluctuate over time. The rate often adjusts according to market conditions or other predetermined factors, introducing potential variation in the interest rate costs borne by PCSupport.com, Inc. Conclusion: The Oregon Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC is a vital financial arrangement that provides PCSupport.com, Inc. with a flexible source of funding. By clearly outlining the terms, payment conditions, and available types of agreements, both parties can establish a sustainable and mutually beneficial financial relationship.
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