South Dakota Revolving Credit Agreement refers to a contractual arrangement between PCSupport.com, Inc. and ICE Holdings North America, LLC, entailing a revolving credit facility in the state of South Dakota. This agreement enables PCSupport.com, Inc. to access funds as needed, up to a specified credit limit, for various purposes such as working capital, operational expenses, and potential growth opportunities. The South Dakota Revolving Credit Agreement recognizes PCSupport.com, Inc. as the borrower and ICE Holdings North America, LLC as the lender. This legally binding agreement outlines the terms and conditions that both parties must abide by throughout the credit facility's duration. It ensures that there is a clear understanding of rights, obligations, repayment terms, and any potential penalties or fees. The agreement typically includes relevant keywords such as: 1. Revolving Credit Facility: This is the overarching structure of the credit agreement. It defines the total available credit limit that PCSupport.com, Inc. can borrow from ICE Holdings North America, LLC and the conditions for its usage. 2. Credit Limit: The maximum amount of credit that PCSupport.com, Inc. can access at any given time within the established facility. This is set based on various factors, including the borrower's financial track record and creditworthiness. 3. Interest Rate: The agreed-upon rate at which interest will accrue on any outstanding balance. This rate may be variable or fixed, subject to negotiation between the parties involved. 4. Repayment Terms: Details on how and when PCSupport.com, Inc. is required to repay the borrowed funds. This typically includes monthly or quarterly installments, interest-only payments, or a combination thereof until the credit facility is fully repaid. 5. Draw downs: The process by which PCSupport.com, Inc. accesses funds from the revolving credit facility. It specifies the permitted frequency, method, and documentation required for draw downs. 6. Fees and Charges: Any associated costs for maintaining the revolving credit facility, which may include commitment fees, standby fees, or transactional charges. These are typically prenegotiated and outlined in the agreement. 7. Default and Remedies: The consequences and remedies available to the lender in the event of default or breach of the agreement by PCSupport.com, Inc. This may include acceleration of repayment, additional penalties, or the freezing of credit access. It's important to note that specific South Dakota Revolving Credit Agreements between PCSupport.com, Inc. and ICE Holdings North America, LLC may differ based on individual requirements, credit profiles, and negotiations. Therefore, there might be variations in the agreed-upon terms, including credit limits, interest rates, and repayment schedules.
South Dakota Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC
Description
How to fill out Revolving Credit Agreement Between PCSupport.com, Inc. And ICE Holdings North America, LLC?
Finding the right lawful record web template can be quite a struggle. Needless to say, there are plenty of themes accessible on the Internet, but how would you find the lawful type you require? Take advantage of the US Legal Forms site. The assistance gives a large number of themes, including the South Dakota Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC, that can be used for business and personal requirements. All the varieties are checked by professionals and meet state and federal requirements.
In case you are already authorized, log in in your account and click the Obtain option to get the South Dakota Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC. Utilize your account to check through the lawful varieties you may have acquired previously. Visit the My Forms tab of your account and have one more version in the record you require.
In case you are a new consumer of US Legal Forms, listed below are simple recommendations so that you can follow:
- Initial, ensure you have selected the appropriate type for your personal metropolis/region. You are able to look through the shape making use of the Preview option and browse the shape description to make sure it is the right one for you.
- In case the type fails to meet your expectations, take advantage of the Seach area to discover the appropriate type.
- Once you are certain the shape would work, select the Acquire now option to get the type.
- Select the rates strategy you desire and type in the necessary information and facts. Build your account and purchase your order with your PayPal account or Visa or Mastercard.
- Opt for the file structure and acquire the lawful record web template in your system.
- Total, change and print out and sign the obtained South Dakota Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC.
US Legal Forms is the most significant catalogue of lawful varieties for which you can see different record themes. Take advantage of the company to acquire skillfully-manufactured documents that follow express requirements.
Form popularity
FAQ
Credit cards, personal lines of credit and home equity lines of credit are all examples of revolving credit. Revolving credit is different from installment credit, such as mortgages and auto loans, which can't be used on a recurring basis.
Revolving credit agreements allow borrowers to have flexible access to funds; however, they are subjected to interest rates that must be paid to the lender. Revolving credit agreements will often include information like the total amount of funds available, a set interest rate, and a payment due date.
Common examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal and business lines of credit. Credit cards are the best-known type of revolving credit.
Credit cards and lines of credit are both examples of revolving credit.
Three examples of revolving credit are a credit card, a home equity line of credit (HELOC) and a personal line of credit. Revolving credit is credit you can use repeatedly up to a certain limit as you pay it down.
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations.