Common Contracts
1 similar Business Line of Credit Agreement contracts
Business Line of Credit Agreement Terms and ConditionsBusiness Line of Credit Agreement • July 20th, 2022
Parties. City of Hamilton (the “City”) and the Hamilton Tourism Development Corporation (the “Borrower”). The Borrower has applied to the City for a Line of Credit to provide funds for the business activities of the Borrower. Purpose. As outlined in it’s Articles of Incorporation, the objectives of HTDC are to develop tourism products and promote Hamilton as a destination for tourists, visitors, festival and event attendees, conference delegates and business travellers. For greater clarity, tourism products relate to the eight sectors of the tourism industry: accommodation, adventure tourism and recreation, attractions, festivals, events and conferences, food and beverage, tourism services, transportation, and travel trade. Terms Loan Amount. The City will make available to the Borrower up to Two Million Dollars ($2,000,000 CAN) by way of advances. Advances. Advances will be made from the available funding, on an as required basis. Closing Date. Closing Date means the date the agreemen
