Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC
Description
Definition and meaning
The Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC outlines the terms under which PCSupport.com can borrow funds from ICE Holdings. This agreement allows PCSupport.com access to a credit line, which can be drawn upon as needed, up to a specified limit. In this case, the credit limit amount is set at $1,000,000.
Key components of the form
The Revolving Credit Agreement consists of several key components that detail the obligations and rights of both the Borrower and Lender. These components typically include:
- Definitions: Clear definitions of important terms used throughout the agreement.
- Interest Rates: Specifications on how interest is calculated and applied to borrowed amounts.
- Repayment Terms: Guidelines on how and when repayments must occur.
- Events of Default: Conditions under which the Lender can declare a default.
How to complete a form
To properly complete the Revolving Credit Agreement, follow these steps:
- Begin by accurately filling in the names of both parties involved, namely PCSupport.com, Inc. and ICE Holdings North America, LLC.
- Specify the date of the agreement, which is critical for establishing the timeline for obligations.
- Clearly outline the credit limit and ensure all terms regarding interest rates and repayment schedules are understood and agreed upon by both parties.
- Include any additional provisions or amendments that may be necessary for the specific agreement.
- Finally, both parties must sign and date the document to validate the agreement.
Who should use this form
This form is suitable for businesses seeking flexible financing options through a revolving credit arrangement. Specifically:
- Companies that require quick access to capital for day-to-day operations or unexpected expenses.
- Business owners who prefer only borrowing against the credit line as needed, rather than taking out a traditional loan.
Legal use and context
The Revolving Credit Agreement is a legal document used to formalize the lending relationship between a Borrower and a Lender. It serves as a reference for both parties throughout the duration of the credit arrangement:
- It establishes a legal obligation for the Borrower to repay borrowed amounts plus interest.
- It provides the Lender with rights to enforce payments and manage risks associated with lending.
Benefits of using this form online
Utilizing an online template for the Revolving Credit Agreement offers several advantages:
- Convenience: Users can fill out the form from anywhere at any time.
- Clarity: Online forms often come with explanations and examples to guide users through completion.
- Secure access: Online platforms typically provide secure data handling and storage.
How to fill out Revolving Credit Agreement Between PCSupport.com, Inc. And ICE Holdings North America, LLC?
When it comes to drafting a legal form, it’s better to delegate it to the professionals. However, that doesn't mean you yourself can not find a template to use. That doesn't mean you yourself can not find a template to use, nevertheless. Download Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC right from the US Legal Forms website. It gives you numerous professionally drafted and lawyer-approved forms and samples.
For full access to 85,000 legal and tax forms, customers just have to sign up and select a subscription. After you’re signed up with an account, log in, look for a particular document template, and save it to My Forms or download it to your device.
To make things less difficult, we have provided an 8-step how-to guide for finding and downloading Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC fast:
- Make sure the document meets all the necessary state requirements.
- If available preview it and read the description before buying it.
- Hit Buy Now.
- Choose the appropriate subscription to meet your needs.
- Create your account.
- Pay via PayPal or by debit/visa or mastercard.
- Choose a needed format if a number of options are available (e.g., PDF or Word).
- Download the document.
Once the Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC is downloaded it is possible to fill out, print out and sign it in almost any editor or by hand. Get professionally drafted state-relevant papers within a matter of minutes in a preferable format with US Legal Forms!
Form popularity
FAQ
A credit agreement has two main characteristics: Firstly, there must be some deferral of repayment, or a prepayment and secondly, the credit provider must impose a fee, charge or interest with respect to deferred payments or the credit provider must give a discount with respect to prepayment. a credit guarantee.
The credit agreement is a written document that spells out the terms of the loan. While the financial institution usually prepares the first draft of the agreement, it is subject to negotiation. A prospective borrower should have a clear overview of what it wants from the credit facility.
A consumer credit agreement is cancellable only if it was signed following or all representations by the lender in the presence of the borrower and was not signed at the lenders business premises.
Credit agreements typically have a list of items, commonly referred to as sacred rights, which can only be modified by the vote of all lenders or all affected lenders. The purpose of the sacred rights is to protect minority lenders from having their critical rights or investment fundamentally altered by the majority.
A credit agreement has two main characteristics: Firstly, there must be some deferral of repayment, or a prepayment and secondly, the credit provider must impose a fee, charge or interest with respect to deferred payments or the credit provider must give a discount with respect to prepayment. a credit guarantee.
A credit agreement is a legal document that outlines the terms of your loan, between you and the lender. Whether you're taking out a mortgage, a personal loan or Car Finance, the creditor is legally required to provide a credit agreement and it must be signed by both parties.
Revolving credit is an agreement that permits an account holder to borrow money repeatedly up to a set dollar limit while repaying a portion of the current balance due in regular installments.Credit cards and bank lines of credit both work on the principle of revolving credit.
Also known as a loan agreement. The main transaction document for a loan financing between one or more lenders and a borrower.
1Title page. Here you'll find info such as the closing date of the loan, name of the borrower (legal entity), and the agent banks on the loan.2Table of contents.3Recitals.4Definitions.5Amount and terms of the credits.6Representations and warranties.7Conditions.8Affirmative covenants.Distressed Investing: How to Read a Credit Agreeement?\nwww.distressed-debt-investing.com > 2009/07 > distressed-investing-how-t...