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
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How to fill out South Dakota Revolving Credit Agreement Between PCSupport.com, Inc. And ICE Holdings North America, LLC?
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