Virgin Islands 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 Virgin Islands Revolving Credit Loan and Security Agreement is a legal document that establishes a financial arrangement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. This agreement outlines the terms and conditions of a revolving credit loan extended by Dixon Ticonderoga Co. to Dixon Ticonderoga, Inc., enabling the latter to access funds up to a predetermined limit as per their business needs. A revolving credit loan is a flexible type of loan that allows the borrower, Dixon Ticonderoga, Inc., to withdraw and repay funds as needed within the predetermined credit limit. This agreement sets forth the parameters, interest rate, repayment terms, and collateral requirements for the loan. By having a revolving credit facility in place, Dixon Ticonderoga, Inc. has the advantage of accessing funds as and when required, without needing to seek new loan approvals each time. Collateral is a crucial aspect of this loan agreement. Dixon Ticonderoga, Inc. may need to provide security in the form of assets, such as equipment, inventory, or accounts receivable, to secure the loan. In case of default, these assets may be used to fulfill the outstanding loan amount. The agreement specifies the process of collateral evaluation, maintenance, and the rights of both parties in relation to this security. The Virgin Islands Revolving Credit Loan and Security Agreement may have different types, based on specific terms or variations that suit the needs of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Some of these variations may include: 1. Secured Revolving Credit Loan: This type of agreement requires Dixon Ticonderoga, Inc. to provide collateral (assets) to secure the loan. 2. Unsecured Revolving Credit Loan: In certain cases, Dixon Ticonderoga Co. may extend credit without requiring Dixon Ticonderoga, Inc. to provide collateral. This agreement would specify the terms and conditions for such an unsecured loan. 3. Variable Interest Rate Revolving Credit Loan: This type of agreement allows the interest rate to fluctuate over time, based on market conditions or other factors. The agreement would outline how these interest rate changes are determined and implemented. 4. Fixed Interest Rate Revolving Credit Loan: In contrast to a variable interest rate loan, this agreement locks in a predetermined interest rate for the duration of the loan. 5. Short-term Revolving Credit Loan: This type of agreement establishes a revolving credit facility for a specific period, typically for short-term financing needs. The agreement would outline the start and end dates of this facility. It is important to note that the specifics of the Virgin Islands Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may vary based on individual circumstances, negotiation between the parties, and the legal requirements of the Virgin Islands jurisdiction.

The Virgin Islands Revolving Credit Loan and Security Agreement is a legal document that establishes a financial arrangement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. This agreement outlines the terms and conditions of a revolving credit loan extended by Dixon Ticonderoga Co. to Dixon Ticonderoga, Inc., enabling the latter to access funds up to a predetermined limit as per their business needs. A revolving credit loan is a flexible type of loan that allows the borrower, Dixon Ticonderoga, Inc., to withdraw and repay funds as needed within the predetermined credit limit. This agreement sets forth the parameters, interest rate, repayment terms, and collateral requirements for the loan. By having a revolving credit facility in place, Dixon Ticonderoga, Inc. has the advantage of accessing funds as and when required, without needing to seek new loan approvals each time. Collateral is a crucial aspect of this loan agreement. Dixon Ticonderoga, Inc. may need to provide security in the form of assets, such as equipment, inventory, or accounts receivable, to secure the loan. In case of default, these assets may be used to fulfill the outstanding loan amount. The agreement specifies the process of collateral evaluation, maintenance, and the rights of both parties in relation to this security. The Virgin Islands Revolving Credit Loan and Security Agreement may have different types, based on specific terms or variations that suit the needs of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. Some of these variations may include: 1. Secured Revolving Credit Loan: This type of agreement requires Dixon Ticonderoga, Inc. to provide collateral (assets) to secure the loan. 2. Unsecured Revolving Credit Loan: In certain cases, Dixon Ticonderoga Co. may extend credit without requiring Dixon Ticonderoga, Inc. to provide collateral. This agreement would specify the terms and conditions for such an unsecured loan. 3. Variable Interest Rate Revolving Credit Loan: This type of agreement allows the interest rate to fluctuate over time, based on market conditions or other factors. The agreement would outline how these interest rate changes are determined and implemented. 4. Fixed Interest Rate Revolving Credit Loan: In contrast to a variable interest rate loan, this agreement locks in a predetermined interest rate for the duration of the loan. 5. Short-term Revolving Credit Loan: This type of agreement establishes a revolving credit facility for a specific period, typically for short-term financing needs. The agreement would outline the start and end dates of this facility. It is important to note that the specifics of the Virgin Islands Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may vary based on individual circumstances, negotiation between the parties, and the legal requirements of the Virgin Islands jurisdiction.