Hennepin Minnesota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Revolving Credit Loan and Security Agreement is a legal contract that outlines the terms and conditions of a revolving credit facility between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., both based in Hennepin County, Minnesota. This agreement serves as a foundation for the financial relationship between the two entities, providing a framework for borrowing and lending funds, as well as detailing the security measures in place to protect the interests of both parties. In this agreement, Dixon Ticonderoga Co. acts as the lender, while Dixon Ticonderoga, Inc. is the borrower. The revolving credit loan arrangement allows Dixon Ticonderoga, Inc. to access funds up to a specified credit limit, which can be borrowed, repaid, and borrowed again over a predetermined period. Key terms and conditions governing the Hennepin Minnesota Revolving Credit Loan and Security Agreement may include but are not limited to: 1. Borrowing Capacity: The maximum amount that Dixon Ticonderoga, Inc. can borrow under this agreement. 2. Interest Rate: The interest rate applied to the outstanding loan balance, which is usually subject to change based on market conditions. 3. Repayment Terms: The repayment schedule, which outlines the frequency and amount of each installment, and any applicable penalties for late payments or defaults. 4. Security Agreement: This outlines the collateral or assets offered by Dixon Ticonderoga, Inc. as security for the loan. Common examples could include inventory, accounts receivable, or property. 5. Financial Covenants: These are conditions that Dixon Ticonderoga, Inc. must meet or maintain during the term of the agreement, such as minimum levels of profitability or asset coverage ratios. It is important to note that the specific terms and conditions of the Hennepin Minnesota Revolving Credit Loan and Security Agreement may vary based on individual circumstances and negotiation between the parties involved. Different types or variations of this agreement may also exist based on specific requirements, such as secured vs. unsecured revolving credit, or specific covenants and provisions included. Overall, the Hennepin Minnesota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. serve as a vital legal instrument in establishing a financial relationship, providing flexibility in borrowing funds, and protecting the interests of both parties involved.

The Hennepin Minnesota Revolving Credit Loan and Security Agreement is a legal contract that outlines the terms and conditions of a revolving credit facility between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc., both based in Hennepin County, Minnesota. This agreement serves as a foundation for the financial relationship between the two entities, providing a framework for borrowing and lending funds, as well as detailing the security measures in place to protect the interests of both parties. In this agreement, Dixon Ticonderoga Co. acts as the lender, while Dixon Ticonderoga, Inc. is the borrower. The revolving credit loan arrangement allows Dixon Ticonderoga, Inc. to access funds up to a specified credit limit, which can be borrowed, repaid, and borrowed again over a predetermined period. Key terms and conditions governing the Hennepin Minnesota Revolving Credit Loan and Security Agreement may include but are not limited to: 1. Borrowing Capacity: The maximum amount that Dixon Ticonderoga, Inc. can borrow under this agreement. 2. Interest Rate: The interest rate applied to the outstanding loan balance, which is usually subject to change based on market conditions. 3. Repayment Terms: The repayment schedule, which outlines the frequency and amount of each installment, and any applicable penalties for late payments or defaults. 4. Security Agreement: This outlines the collateral or assets offered by Dixon Ticonderoga, Inc. as security for the loan. Common examples could include inventory, accounts receivable, or property. 5. Financial Covenants: These are conditions that Dixon Ticonderoga, Inc. must meet or maintain during the term of the agreement, such as minimum levels of profitability or asset coverage ratios. It is important to note that the specific terms and conditions of the Hennepin Minnesota Revolving Credit Loan and Security Agreement may vary based on individual circumstances and negotiation between the parties involved. Different types or variations of this agreement may also exist based on specific requirements, such as secured vs. unsecured revolving credit, or specific covenants and provisions included. Overall, the Hennepin Minnesota Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. serve as a vital legal instrument in establishing a financial relationship, providing flexibility in borrowing funds, and protecting the interests of both parties involved.