Bronx New York Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Bronx
• 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 Bronx New York Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legally binding contract that outlines the terms and conditions of a revolving credit facility and the accompanying security agreement between Dixon Ticonderoga Co. (the lender) and Dixon Ticonderoga, Inc. (the borrower). This agreement enables Dixon Ticonderoga, Inc. to borrow funds up to a specified credit limit on an as-needed basis, allowing for flexibility in managing their working capital needs. The Bronx New York Revolving Credit Loan and Security Agreement may encompass different types based on specific agreements made between the parties involved. These could include: 1. Term Revolving Credit Loan: This type of loan agreement sets a predetermined period within which the borrower can access the revolving credit facility. It ensures a predictable repayment schedule and may have a fixed interest rate for the duration of the agreement. 2. Revolving Line of Credit: This structure provides more flexibility to the borrower as funds can be drawn, repaid, and redrawn within the specified credit limit, hence the term "revolving." Interest is usually charged only on the borrowed amount. The borrower can access funds as and when needed, making it an ideal choice for managing short-term financial requirements. 3. Secured Revolving Credit: This agreement may require the borrower to provide collateral as security, such as inventory, real estate, or other assets. The lender can claim these assets in case of default on loan repayments. Secured revolving credit loans often provide lower interest rates due to the reduced risk involved for the lender. 4. Unsecured Revolving Credit: In contrast to secured agreements, unsecured revolving credit loans do not require collateral. This type of agreement typically comes with higher interest rates as it poses a higher risk for the lender. The borrower's creditworthiness and financial stability play a significant role in determining the credit limit and terms. The Bronx New York Revolving Credit Loan and Security Agreement generally include various key components, such as the loan amount available to the borrower, interest rate, repayment schedule, applicable fees, default conditions, penalty provisions, conditions for changes in terms, and the rights and responsibilities of both parties involved. It is important to consult legal professionals to ensure that the agreement accurately reflects the agreed-upon terms and adheres to applicable laws and regulations in Bronx, New York. The specifics of the agreement may vary depending on the unique circumstances and requirements of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

Bronx New York Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legally binding contract that outlines the terms and conditions of a revolving credit facility and the accompanying security agreement between Dixon Ticonderoga Co. (the lender) and Dixon Ticonderoga, Inc. (the borrower). This agreement enables Dixon Ticonderoga, Inc. to borrow funds up to a specified credit limit on an as-needed basis, allowing for flexibility in managing their working capital needs. The Bronx New York Revolving Credit Loan and Security Agreement may encompass different types based on specific agreements made between the parties involved. These could include: 1. Term Revolving Credit Loan: This type of loan agreement sets a predetermined period within which the borrower can access the revolving credit facility. It ensures a predictable repayment schedule and may have a fixed interest rate for the duration of the agreement. 2. Revolving Line of Credit: This structure provides more flexibility to the borrower as funds can be drawn, repaid, and redrawn within the specified credit limit, hence the term "revolving." Interest is usually charged only on the borrowed amount. The borrower can access funds as and when needed, making it an ideal choice for managing short-term financial requirements. 3. Secured Revolving Credit: This agreement may require the borrower to provide collateral as security, such as inventory, real estate, or other assets. The lender can claim these assets in case of default on loan repayments. Secured revolving credit loans often provide lower interest rates due to the reduced risk involved for the lender. 4. Unsecured Revolving Credit: In contrast to secured agreements, unsecured revolving credit loans do not require collateral. This type of agreement typically comes with higher interest rates as it poses a higher risk for the lender. The borrower's creditworthiness and financial stability play a significant role in determining the credit limit and terms. The Bronx New York Revolving Credit Loan and Security Agreement generally include various key components, such as the loan amount available to the borrower, interest rate, repayment schedule, applicable fees, default conditions, penalty provisions, conditions for changes in terms, and the rights and responsibilities of both parties involved. It is important to consult legal professionals to ensure that the agreement accurately reflects the agreed-upon terms and adheres to applicable laws and regulations in Bronx, New York. The specifics of the agreement may vary depending on the unique circumstances and requirements of Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.