Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• City: Chicago
• 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 A Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document outlining the terms and conditions of a revolving credit facility and collateral protection between these two entities. This agreement enables Dixon Ticonderoga, Inc. to borrow funds on a revolving basis from Dixon Ticonderoga Co. up to a pre-determined credit limit. Keywords: Chicago Illinois, Revolving Credit Loan, Security Agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc., legal document, terms and conditions, revolving credit facility, collateral protection, borrow funds, credit limit. There are different types of Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., including: 1. Traditional Revolving Credit Loan: This type of agreement allows Dixon Ticonderoga, Inc. to borrow and repay funds within the approved credit limit over a specified period. The interest is usually charged on the outstanding balance and can fluctuate based on market conditions. 2. Secured Revolving Credit Loan: With this type of agreement, Dixon Ticonderoga, Inc. pledges specific assets such as equipment, inventory, or accounts receivable as collateral to secure the loan. In case of default, the lender has the right to seize and sell the collateral to recover the outstanding debt. 3. Unsecured Revolving Credit Loan: Unlike a secured loan, this agreement does not require any collateral. Dixon Ticonderoga, Inc. can access funds without pledging assets as security. However, due to the higher risk for the lender, interest rates and credit limits might be lower compared to a secured revolving credit loan. 4. Line of Credit Revolving Loan: This agreement establishes a predetermined credit limit that Dixon Ticonderoga, Inc. can borrow against as needed. The terms, repayment schedule, and interest rates are agreed upon in advance. It provides flexibility for Dixon Ticonderoga, Inc. to manage their cash flow and borrow funds when required, while only paying interest on the amount drawn. 5. Overdraft Protection Revolving Loan: This type of agreement acts as a safety net for Dixon Ticonderoga, Inc.'s checking account. If the company exceeds the available balance, the revolving loan will cover the shortage. Interest is charged on the over drafted amount until it is repaid. In summary, a Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. establishes a contractual framework for borrowing funds on a revolving basis, utilizing collateral protection, and outlining the terms and conditions. Different types of these agreements exist, allowing Dixon Ticonderoga, Inc. to choose an arrangement that best suits their financial needs and risk appetite.

A Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a legal document outlining the terms and conditions of a revolving credit facility and collateral protection between these two entities. This agreement enables Dixon Ticonderoga, Inc. to borrow funds on a revolving basis from Dixon Ticonderoga Co. up to a pre-determined credit limit. Keywords: Chicago Illinois, Revolving Credit Loan, Security Agreement, Dixon Ticonderoga Co., Dixon Ticonderoga, Inc., legal document, terms and conditions, revolving credit facility, collateral protection, borrow funds, credit limit. There are different types of Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., including: 1. Traditional Revolving Credit Loan: This type of agreement allows Dixon Ticonderoga, Inc. to borrow and repay funds within the approved credit limit over a specified period. The interest is usually charged on the outstanding balance and can fluctuate based on market conditions. 2. Secured Revolving Credit Loan: With this type of agreement, Dixon Ticonderoga, Inc. pledges specific assets such as equipment, inventory, or accounts receivable as collateral to secure the loan. In case of default, the lender has the right to seize and sell the collateral to recover the outstanding debt. 3. Unsecured Revolving Credit Loan: Unlike a secured loan, this agreement does not require any collateral. Dixon Ticonderoga, Inc. can access funds without pledging assets as security. However, due to the higher risk for the lender, interest rates and credit limits might be lower compared to a secured revolving credit loan. 4. Line of Credit Revolving Loan: This agreement establishes a predetermined credit limit that Dixon Ticonderoga, Inc. can borrow against as needed. The terms, repayment schedule, and interest rates are agreed upon in advance. It provides flexibility for Dixon Ticonderoga, Inc. to manage their cash flow and borrow funds when required, while only paying interest on the amount drawn. 5. Overdraft Protection Revolving Loan: This type of agreement acts as a safety net for Dixon Ticonderoga, Inc.'s checking account. If the company exceeds the available balance, the revolving loan will cover the shortage. Interest is charged on the over drafted amount until it is repaid. In summary, a Chicago Illinois Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. establishes a contractual framework for borrowing funds on a revolving basis, utilizing collateral protection, and outlining the terms and conditions. Different types of these agreements exist, allowing Dixon Ticonderoga, Inc. to choose an arrangement that best suits their financial needs and risk appetite.