Bexar Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Bexar
• 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 Bexar Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal contract that outlines the terms and conditions of a revolving credit loan facility provided to Dixon Ticonderoga, Inc. by Dixon Ticonderoga Co. in Bexar County, Texas. This agreement is crucial for establishing the parameters and obligations of both parties involved. A revolving credit loan refers to a financial arrangement where a borrower (in this case, Dixon Ticonderoga, Inc.) is granted a predetermined credit limit, which they can access multiple times during the loan's term. The borrower has the flexibility to borrow and repay the loan as needed, rather than taking a lump sum upfront. The primary purpose of this loan is to provide Dixon Ticonderoga, Inc. with a reliable source of funding to support its operations, investments, or working capital requirements. By having access to a revolving line of credit, the company can manage its cash flow effectively and address any immediate financial needs that may arise. The Bexar Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may include various components, such as: 1. Loan Amount and Credit Limit: This section specifies the maximum amount of credit that Dixon Ticonderoga, Inc. can borrow under this agreement. It outlines the initial loan amount and any subsequent increases or decreases based on mutual agreement or creditworthiness evaluations. 2. Interest Rate: The agreement will define the interest rate that Dixon Ticonderoga, Inc. must pay on the borrowed amount. This rate may be fixed or variable, depending on the terms negotiated between the parties. 3. Repayment Terms: This section details the repayment schedule, including the frequency, duration, and method of repayment. It may include provisions for minimum monthly payments and other repayment obligations. 4. Security and Collateral: The agreement may require Dixon Ticonderoga, Inc. to provide security or collateral to secure the loan. This collateral could be in the form of specific assets, inventory, accounts receivable, or other valuable items that serve as a protection for the lender in case of default by the borrower. 5. Conditions and Covenants: The agreement may specify certain conditions and covenants that both parties must adhere to. These could include financial reporting requirements, maintenance of certain financial ratios, and restrictions on the disposal of assets or engaging in certain business activities. 6. Term and Termination: The agreement will outline the duration of the loan facility, including the starting date and any renewal or extension provisions. It may also highlight the circumstances under which the lender or borrower can terminate the agreement, such as non-compliance with the agreed-upon terms or bankruptcy. Different types or variants of the Bexar Texas Revolving Credit Loan and Security Agreement may exist depending on the specific terms and conditions negotiated by Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. For example, there could be agreements with different credit limits, interest rates, or collateral requirements to accommodate varying financial needs and risk profiles.

The Bexar Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal contract that outlines the terms and conditions of a revolving credit loan facility provided to Dixon Ticonderoga, Inc. by Dixon Ticonderoga Co. in Bexar County, Texas. This agreement is crucial for establishing the parameters and obligations of both parties involved. A revolving credit loan refers to a financial arrangement where a borrower (in this case, Dixon Ticonderoga, Inc.) is granted a predetermined credit limit, which they can access multiple times during the loan's term. The borrower has the flexibility to borrow and repay the loan as needed, rather than taking a lump sum upfront. The primary purpose of this loan is to provide Dixon Ticonderoga, Inc. with a reliable source of funding to support its operations, investments, or working capital requirements. By having access to a revolving line of credit, the company can manage its cash flow effectively and address any immediate financial needs that may arise. The Bexar Texas Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. may include various components, such as: 1. Loan Amount and Credit Limit: This section specifies the maximum amount of credit that Dixon Ticonderoga, Inc. can borrow under this agreement. It outlines the initial loan amount and any subsequent increases or decreases based on mutual agreement or creditworthiness evaluations. 2. Interest Rate: The agreement will define the interest rate that Dixon Ticonderoga, Inc. must pay on the borrowed amount. This rate may be fixed or variable, depending on the terms negotiated between the parties. 3. Repayment Terms: This section details the repayment schedule, including the frequency, duration, and method of repayment. It may include provisions for minimum monthly payments and other repayment obligations. 4. Security and Collateral: The agreement may require Dixon Ticonderoga, Inc. to provide security or collateral to secure the loan. This collateral could be in the form of specific assets, inventory, accounts receivable, or other valuable items that serve as a protection for the lender in case of default by the borrower. 5. Conditions and Covenants: The agreement may specify certain conditions and covenants that both parties must adhere to. These could include financial reporting requirements, maintenance of certain financial ratios, and restrictions on the disposal of assets or engaging in certain business activities. 6. Term and Termination: The agreement will outline the duration of the loan facility, including the starting date and any renewal or extension provisions. It may also highlight the circumstances under which the lender or borrower can terminate the agreement, such as non-compliance with the agreed-upon terms or bankruptcy. Different types or variants of the Bexar Texas Revolving Credit Loan and Security Agreement may exist depending on the specific terms and conditions negotiated by Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. For example, there could be agreements with different credit limits, interest rates, or collateral requirements to accommodate varying financial needs and risk profiles.