New Debtor. (a) If any member of the Group (other than the Issuer): (i) incurs any Liabilities (except Intra-Group Liabilities); or (ii) gives any security, guarantee, indemnity or other assurance against loss in respect of any of the Senior Liabilities, and is not a Party as a Debtor, the Company will procure that the person incurring those Liabilities or giving that assurance accedes to this Agreement as a Debtor, in accordance with paragraph (b) below, no later than 3 Business Days after the incurrence of those Liabilities or the giving of that assurance. (b) With effect from the date of acceptance by the Security Agent of a Debtor Accession Deed duly executed and delivered to the Security Agent by the new Debtor or, if later, the date specified in the Debtor Accession Deed, the new Debtor shall assume the same obligations and become entitled to the same rights as if it had been an original Party to this Agreement as a Debtor.
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Samples: Intercreditor Agreement (Sappi LTD), Intercreditor Agreement (Sappi LTD)
New Debtor. (a) If any member of the Group (other than the Issuer):Group:
(i) incurs any Liabilities (except Intra-Group Liabilities); or
(ii) gives any security, guarantee, indemnity or other assurance against loss in respect of any of the Senior Liabilities, and is not a Party as a Debtor, Liabilities the Company Debtors will procure that the person incurring those Liabilities or giving that assurance (if that party is required to accede to the Senior Facilities Agreement as an Additional Guarantor) accedes to this Agreement Deed as a Debtor, in accordance with paragraph (bclause 15.8(b) below, no later than 3 Business Days after contemporaneously with the incurrence of those Liabilities or the giving of that assurance.
(b) With effect from the date of acceptance by the Security Agent Trustee of a Debtor Accession Deed duly executed and delivered to the Security Agent Trustee by the new Debtor or, if later, the date specified in the Debtor Accession Deed, the new Debtor shall assume the same obligations and become entitled to the same rights as if it had been an original Party to this Agreement Deed as a Debtor.
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