Montgomery Maryland Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Montgomery
• 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 Montgomery Maryland Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.: Introduction: The Montgomery Maryland Revolving Credit Loan and Security Agreement is a legally binding document that outlines the terms and conditions of a loan and establishes a security interest for Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. It provides a framework for the revolving credit facility and protects the interests of both parties involved. This agreement enables Dixon Ticonderoga Co. to borrow funds as needed, while offering collateral to secure the loan. Types of Montgomery Maryland Revolving Credit Loan and Security Agreements: 1. Traditional Revolving Credit Loan Agreement: Under this agreement, Dixon Ticonderoga Co. can borrow funds up to a predefined limit, usually provided by a financial institution, for various business purposes. The terms include interest rates, repayment schedules, and other conditions mutually agreed upon by both parties. The company can borrow, repay, and re-borrow funds within the specified limit without requiring additional documentation. 2. Secured Revolving Credit Loan Agreement: This type of agreement involves providing collateral as security for the loan. By pledging company assets, such as equipment, inventory, or accounts receivable, Dixon Ticonderoga Co. ensures the lender's protection in case of default. Security interest allows the lender to seize and sell the pledged assets to recover their funds if necessary. 3. Personal Guarantee Revolving Credit Loan Agreement: In some instances, the agreement may require a personal guarantee from the shareholders or owners of the company. This guarantee holds them personally liable for the repayment of the loan, ensuring an added layer of security for the lender. In case of default, the lender can seek repayment from the personal assets of the guarantors. Contents of Montgomery Maryland Revolving Credit Loan and Security Agreement: 1. Parties Involved: Clearly identify the parties entering into the agreement — Dixon Ticonderoga Co. as the borrower and Dixon Ticonderoga, Inc. as the lender. Include their legal names, addresses, and contact information. 2. Loan Terms: Specify important loan details such as the principal amount, interest rate, repayment schedules, and any fees associated with the loan. Outline the interest calculation method, payment due dates, and acceptable payment methods. 3. Security Interest: Describe the collateral that Dixon Ticonderoga Co. pledges to secure the loan. This may include detailed information about the assets, their location, and how they will be maintained until the loan is repaid. 4. Conditions Precedent: List any conditions that need to be met before the loan can be accessed, such as providing financial statements, insurance requirements, or maintaining certain financial ratios. 5. Representations and Warranties: Include statements affirming the accuracy of information provided by both parties, ensuring they have the necessary authority to enter into the agreement, and disclosing any potential conflicts of interest. 6. Default and Remedies: Outline the events that would constitute a default, such as missed payments or breach of other obligations, and the remedies available to the lender, including acceleration of the loan or legal actions to recover the outstanding balance. Conclusion: The Montgomery Maryland Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a comprehensive and legally binding document that defines the terms and conditions of the revolving credit facility. By setting out the obligations, rights, and responsibilities of both parties, this agreement fosters a mutually beneficial financial relationship.

Montgomery Maryland Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc.: Introduction: The Montgomery Maryland Revolving Credit Loan and Security Agreement is a legally binding document that outlines the terms and conditions of a loan and establishes a security interest for Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. It provides a framework for the revolving credit facility and protects the interests of both parties involved. This agreement enables Dixon Ticonderoga Co. to borrow funds as needed, while offering collateral to secure the loan. Types of Montgomery Maryland Revolving Credit Loan and Security Agreements: 1. Traditional Revolving Credit Loan Agreement: Under this agreement, Dixon Ticonderoga Co. can borrow funds up to a predefined limit, usually provided by a financial institution, for various business purposes. The terms include interest rates, repayment schedules, and other conditions mutually agreed upon by both parties. The company can borrow, repay, and re-borrow funds within the specified limit without requiring additional documentation. 2. Secured Revolving Credit Loan Agreement: This type of agreement involves providing collateral as security for the loan. By pledging company assets, such as equipment, inventory, or accounts receivable, Dixon Ticonderoga Co. ensures the lender's protection in case of default. Security interest allows the lender to seize and sell the pledged assets to recover their funds if necessary. 3. Personal Guarantee Revolving Credit Loan Agreement: In some instances, the agreement may require a personal guarantee from the shareholders or owners of the company. This guarantee holds them personally liable for the repayment of the loan, ensuring an added layer of security for the lender. In case of default, the lender can seek repayment from the personal assets of the guarantors. Contents of Montgomery Maryland Revolving Credit Loan and Security Agreement: 1. Parties Involved: Clearly identify the parties entering into the agreement — Dixon Ticonderoga Co. as the borrower and Dixon Ticonderoga, Inc. as the lender. Include their legal names, addresses, and contact information. 2. Loan Terms: Specify important loan details such as the principal amount, interest rate, repayment schedules, and any fees associated with the loan. Outline the interest calculation method, payment due dates, and acceptable payment methods. 3. Security Interest: Describe the collateral that Dixon Ticonderoga Co. pledges to secure the loan. This may include detailed information about the assets, their location, and how they will be maintained until the loan is repaid. 4. Conditions Precedent: List any conditions that need to be met before the loan can be accessed, such as providing financial statements, insurance requirements, or maintaining certain financial ratios. 5. Representations and Warranties: Include statements affirming the accuracy of information provided by both parties, ensuring they have the necessary authority to enter into the agreement, and disclosing any potential conflicts of interest. 6. Default and Remedies: Outline the events that would constitute a default, such as missed payments or breach of other obligations, and the remedies available to the lender, including acceleration of the loan or legal actions to recover the outstanding balance. Conclusion: The Montgomery Maryland Revolving Credit Loan and Security Agreement between Dixon Ticonderoga Co. and Dixon Ticonderoga, Inc. is a comprehensive and legally binding document that defines the terms and conditions of the revolving credit facility. By setting out the obligations, rights, and responsibilities of both parties, this agreement fosters a mutually beneficial financial relationship.