Texas 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 The Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document that establishes the terms and conditions of a revolving credit facility provided by the lender to the borrower. Keywords: Texas, revolving credit loan, security agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc. This agreement enables Dixon Ticonderoga Co., a company based in Texas, to borrow funds from Dixon Ticonderoga, Inc. on a revolving basis. The loan amount may vary and can be borrowed multiple times throughout the term of the agreement, subject to the lender's approval. Within this arrangement, Dixon Ticonderoga Co. provides collateral to secure the loan. The specific assets used as collateral are detailed in the security agreement, which may include real estate, equipment, accounts receivable, inventory, and other valuable assets owned by the company. By pledging collateral, Dixon Ticonderoga Co. provides a form of assurance to Dixon Ticonderoga, Inc. that the loan will be repaid. The Texas Revolving Credit Loan and Security Agreement may consist of different varieties, based on the specific terms negotiated between the parties involved. Some common types include: 1. Unsecured Revolving Credit Loan: In this scenario, Dixon Ticonderoga Co. may not need to provide any collateral to secure the loan. However, the terms of the agreement, such as interest rates and borrowing limits, may be influenced by the lack of collateral. 2. Secured Revolving Credit Loan: This type requires Dixon Ticonderoga Co. to offer specific assets as collateral to secure the loan. In case of default, the lender may have the right to seize and sell the collateral to recover the outstanding debt. 3. Revolving Line of Credit: This variety allows Dixon Ticonderoga Co. to borrow and repay funds from a predetermined credit limit whenever needed throughout the agreed term. The borrower is only responsible for interest payments on the outstanding balance. 4. Term Revolving Credit Loan: This version sets a specific term during which Dixon Ticonderoga Co. has the ability to borrow funds. Once the term ends, any outstanding balance must be repaid, and the loan cannot be redrawn without further negotiations. It is crucial for both parties to thoroughly review and understand the terms outlined in the Texas Revolving Credit Loan and Security Agreement. This agreement protects the rights and obligations of Dixon Ticonderoga Co. as the borrower and Dixon Ticonderoga, Inc. as the lender, ensuring a mutually beneficial relationship throughout the borrowing arrangement.

The Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document that establishes the terms and conditions of a revolving credit facility provided by the lender to the borrower. Keywords: Texas, revolving credit loan, security agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc. This agreement enables Dixon Ticonderoga Co., a company based in Texas, to borrow funds from Dixon Ticonderoga, Inc. on a revolving basis. The loan amount may vary and can be borrowed multiple times throughout the term of the agreement, subject to the lender's approval. Within this arrangement, Dixon Ticonderoga Co. provides collateral to secure the loan. The specific assets used as collateral are detailed in the security agreement, which may include real estate, equipment, accounts receivable, inventory, and other valuable assets owned by the company. By pledging collateral, Dixon Ticonderoga Co. provides a form of assurance to Dixon Ticonderoga, Inc. that the loan will be repaid. The Texas Revolving Credit Loan and Security Agreement may consist of different varieties, based on the specific terms negotiated between the parties involved. Some common types include: 1. Unsecured Revolving Credit Loan: In this scenario, Dixon Ticonderoga Co. may not need to provide any collateral to secure the loan. However, the terms of the agreement, such as interest rates and borrowing limits, may be influenced by the lack of collateral. 2. Secured Revolving Credit Loan: This type requires Dixon Ticonderoga Co. to offer specific assets as collateral to secure the loan. In case of default, the lender may have the right to seize and sell the collateral to recover the outstanding debt. 3. Revolving Line of Credit: This variety allows Dixon Ticonderoga Co. to borrow and repay funds from a predetermined credit limit whenever needed throughout the agreed term. The borrower is only responsible for interest payments on the outstanding balance. 4. Term Revolving Credit Loan: This version sets a specific term during which Dixon Ticonderoga Co. has the ability to borrow funds. Once the term ends, any outstanding balance must be repaid, and the loan cannot be redrawn without further negotiations. It is crucial for both parties to thoroughly review and understand the terms outlined in the Texas Revolving Credit Loan and Security Agreement. This agreement protects the rights and obligations of Dixon Ticonderoga Co. as the borrower and Dixon Ticonderoga, Inc. as the lender, ensuring a mutually beneficial relationship throughout the borrowing arrangement.