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    Ontario Revolving Credit Agreement


    Provide revolving credit facilities to a corporate borrower with this Revolving Credit Agreement for Ontario lenders.

    • The Agreement allows the borrower to borrow and reborrow funds up to a stated maximum amount.
    • The purpose of the credit facility is to finance the borrower's general operations, and the borrower agrees not to use the funds for any other purpose.
    • The borrower grants the lender a first priority security interest over all of the borrower's personal property, and a guarantee and postponement of claim from a principal of the borrower, as security for repayment.
    • Representations and warranties from both the borrower and the guarantor, including environmental warranties.
    • The guarantor must maintain a specified ratio of current assets to current liabilities, and of total liabilities to tangible net worth.
    • The total amount due may be repaid without penalty at any time.
    • This legal document is intended for use in the Province of Ontario, Canada.
    Download Type: Microsoft Word
    Last Updated: 21-January-2021
    SKU: 8131