Common use of Creditor Accession Undertaking Clause in Contracts

Creditor Accession Undertaking. (a) Subject to Clause 9.2 (Change of Lender), any ECF Hedging Creditor, Term Loan Hedging Creditor, or Agent that wishes to become a Party to this Deed in the capacity as a Creditor may become a Party by delivering to the Collateral Agent, a duly completed and executed Creditor Accession Undertaking. (b) With effect from the date of acceptance by the Collateral Agent of a Creditor Accession Undertaking duly executed and delivered to the Collateral Agent by the relevant acceding party or, if later, the date specified in that Creditor Accession Undertaking: (i) any Party ceasing entirely to be a Creditor shall be discharged from further obligations towards the Collateral Agent and other Parties under this Deed and their respective rights against one another shall be cancelled (except in each case for those rights which arose prior to that date); and (ii) as from that date, the replacement or new Creditor shall assume the same obligations and become entitled to the same rights, as if it had been an original Party to this Deed in that capacity.