The Kansas Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC is a legally binding contract that outlines the terms and conditions of a revolving line of credit provided to PCSupport.com by ICE Holdings North America. This agreement enables PCSupport.com to access additional funds for working capital, operational expenses, and other financial needs. Keywords: Kansas Revolving Credit Agreement, PCSupport.com, Inc., ICE Holdings North America, LLC, revolving line of credit, terms and conditions, additional funds, working capital, operational expenses, financial needs. There may be various types of Kansas Revolving Credit Agreements between PCSupport.com, Inc. and ICE Holdings North America, LLC, such as: 1. Secured Revolving Credit Agreement: This type of agreement involves the provision of a revolving line of credit by ICE Holdings North America to PCSupport.com, Inc., backed by specified collateral (e.g., company assets or intellectual property). The collateral helps safeguard the lender's interests in case of default. 2. Unsecured Revolving Credit Agreement: Unlike the secured option, this agreement does not require any specific collateral. PCSupport.com, Inc. can access a revolving line of credit extended by ICE Holdings North America solely based on their creditworthiness and financial standing. However, the absence of collateral may lead to higher interest rates or more stringent terms and conditions. 3. Term Revolving Credit Agreement: This agreement specifies a fixed term during which PCSupport.com, Inc. can access the revolving line of credit. The duration may range from a few months to several years, providing the company with a pre-determined timeframe within which they can borrow funds as needed. This type of agreement is suitable for businesses with predictable cash flow patterns or specific project requirements. 4. Incremental or Multi-Tranche Revolving Credit Agreement: This type of agreement allows PCSupport.com, Inc. to increase the size of their credit line over time, up to a predetermined maximum limit. As the company's financial requirements evolve, additional tranches or increments can be accessed, providing flexibility and accommodating potential growth or unforeseen circumstances. 5. Variable Rate Revolving Credit Agreement: In this agreement, interest rates on the revolving line of credit may fluctuate over time, often in correspondence with market conditions or an agreed-upon benchmark (e.g., LIBOR). The rates may be adjusted periodically, impacting the cost of borrowing for PCSupport.com, Inc. It's important to note that the specific terms and conditions, repayment schedules, and borrowing limits of these agreements may vary depending on the requirements and negotiations between PCSupport.com, Inc. and ICE Holdings North America, LLC.
Kansas Revolving Credit Agreement between PCSupport.com, Inc. and ICE Holdings North America, LLC
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Revolving credit. With revolving credit, you are given a maximum credit limit, and you can make charges up to that limit. Each month, you carry a balance (or revolve the debt) and make a payment. Most credit cards are a form of revolving credit. Charge cards.
Credit cards and lines of credit are both examples of revolving credit.
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations.
?Under a line of credit, the bank involved agrees to make funds available as long as the borrower's credit rating doesn't deteriorate, while in a revolving credit agreement, the bank guarantees that the funds will be available.
Revolving credit facilities are a type of committed credit facility which allow the borrower to borrow on an ongoing basis while repaying the balance in regular payments.
Common examples of revolving credit include credit cards, home equity lines of credit (HELOCs), and personal and business lines of credit. Credit cards are the best-known type of revolving credit.