Washington 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 Washington Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legally binding document that outlines the terms and conditions associated with a revolving credit loan arrangement and the security provided by the parties involved. The main purpose of this agreement is to establish a revolving credit facility, allowing Dixon Ticonderoga, Inc. to borrow funds from Dixon Ticonderoga Co. on an ongoing basis, up to a specified limit. This type of loan is commonly used by businesses to manage their working capital needs, as it provides them with access to funds whenever necessary. The agreement specifies the terms of the loan, including the interest rate, repayment schedule, and any associated fees or charges. It also outlines the conditions under which the loan can be borrowed, such as the purpose for which the funds can be used and any limitations or restrictions imposed by the lender. To secure the loan, Dixon Ticonderoga Co. may require Dixon Ticonderoga, Inc. to provide collateral or guarantees. This collateral could include assets such as inventory, accounts receivable, or even real estate owned by the company. By providing security, Dixon Ticonderoga Co. can mitigate the risk of lending money and ensure that there are assets available to recover the loan in case of default. There may be different types or variations of the Washington Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., depending on the specific requirements and circumstances of the parties involved. Some possible variations could include: 1. Traditional Revolving Credit Agreement: This is the standard form of revolving credit loan agreement, where Dixon Ticonderoga, Inc. can borrow funds up to a preset limit and repay them as per the agreed terms. 2. Asset-Based Revolving Credit Agreement: In this type of agreement, the collateral provided by Dixon Ticonderoga, Inc. is primarily based on its assets, such as accounts receivable or inventory. The borrowing capacity may be determined by the value of these assets. 3. Non-Recourse Revolving Credit Agreement: In certain cases, the lender may agree not to hold Dixon Ticonderoga, Inc. personally liable for the repayment of the loan but instead limits their recourse to the specified collateral. This provides an extra layer of protection for the borrower. 4. Revolving Credit Agreement with Over-Advance Option: This type of agreement may allow Dixon Ticonderoga, Inc. to borrow even beyond the specified credit limit, subject to certain conditions and additional fees. This provides flexibility to the borrower in case of unexpected or temporary cash flow needs. Each of these variations may have its own specific terms and conditions, which would be detailed within the agreement. It is crucial for both parties involved to carefully review and understand the terms before entering into such an agreement. Additionally, legal advice may be sought to ensure compliance with Washington state laws and regulations.

The Washington Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legally binding document that outlines the terms and conditions associated with a revolving credit loan arrangement and the security provided by the parties involved. The main purpose of this agreement is to establish a revolving credit facility, allowing Dixon Ticonderoga, Inc. to borrow funds from Dixon Ticonderoga Co. on an ongoing basis, up to a specified limit. This type of loan is commonly used by businesses to manage their working capital needs, as it provides them with access to funds whenever necessary. The agreement specifies the terms of the loan, including the interest rate, repayment schedule, and any associated fees or charges. It also outlines the conditions under which the loan can be borrowed, such as the purpose for which the funds can be used and any limitations or restrictions imposed by the lender. To secure the loan, Dixon Ticonderoga Co. may require Dixon Ticonderoga, Inc. to provide collateral or guarantees. This collateral could include assets such as inventory, accounts receivable, or even real estate owned by the company. By providing security, Dixon Ticonderoga Co. can mitigate the risk of lending money and ensure that there are assets available to recover the loan in case of default. There may be different types or variations of the Washington Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., depending on the specific requirements and circumstances of the parties involved. Some possible variations could include: 1. Traditional Revolving Credit Agreement: This is the standard form of revolving credit loan agreement, where Dixon Ticonderoga, Inc. can borrow funds up to a preset limit and repay them as per the agreed terms. 2. Asset-Based Revolving Credit Agreement: In this type of agreement, the collateral provided by Dixon Ticonderoga, Inc. is primarily based on its assets, such as accounts receivable or inventory. The borrowing capacity may be determined by the value of these assets. 3. Non-Recourse Revolving Credit Agreement: In certain cases, the lender may agree not to hold Dixon Ticonderoga, Inc. personally liable for the repayment of the loan but instead limits their recourse to the specified collateral. This provides an extra layer of protection for the borrower. 4. Revolving Credit Agreement with Over-Advance Option: This type of agreement may allow Dixon Ticonderoga, Inc. to borrow even beyond the specified credit limit, subject to certain conditions and additional fees. This provides flexibility to the borrower in case of unexpected or temporary cash flow needs. Each of these variations may have its own specific terms and conditions, which would be detailed within the agreement. It is crucial for both parties involved to carefully review and understand the terms before entering into such an agreement. Additionally, legal advice may be sought to ensure compliance with Washington state laws and regulations.