Acceding Company definition
Examples of Acceding Company in a sentence
Corp and plc each confirms, to the best of its knowledge and belief, that the loan balances set out opposite its name in Part 1 of Schedule 2 (Intra-group loans owed by Participating Companies) to the Statement and Waiver Agreement are all of the loans which were owing to it by the Acceding Company as at 31st December, 2002.
Notice details for [the/each] Acceding Company are those identified with its name below.
The Acceding Company as primary obligor covenants with the Interim Security Agent (as Interim Security Agent for itself and on behalf of the Interim Finance Parties) that it shall on demand of the Interim Security Agent discharge each of the Secured Obligations on their due date in accordance with their respective terms (or, if they do not specify a time for payment, immediately on demand by the Interim Security Agent).
By its execution of this Accession Deed, the Acceding Company unconditionally and irrevocably undertakes to and agrees with the Security Trustee to observe and be bound by the Debenture and grants and creates the charges, mortgages, assignments and other security which are stated to be granted or created by the Debenture as if it had been an original party to the Debenture as one of the Charging Companies.
In connection with any such securities registrations, the Company shall take any and all actions necessary in connection therewith, including without limitation: (i) causing any special audits to be performed, if required and (ii) if requested by the Trustee, entering into an underwriting agreement with underwriters selected by the Trustee in customary form including providing indemnification for the underwriters and the Trustee.
Without prejudice to the generality of clause 2(a) (Accession), [the/each] Acceding Company (jointly and severally with the other Chargors [and each other Acceding Company]), covenants in the terms set out in clause 2 (Covenant to Pay) of the Security Agreement.
For the avoidance of doubt, this paragraph shall not prejudice in any way nor act as a waiver in respect of the Bank’s rights under the Committed Facility Letter to request and/or receive any documents from the Acceding Company.
Deed has been duly executed by [the/each] Acceding Company and the Parent as a deed and duly executed by the Security Agent and has been delivered on the first date specified on page 1 of this Accession Deed][by [the/each] Acceding Company and the Parent].
No Application may be delivered: (a) by an Existing Company unless the Bank has received all of the documents and evidence specified in the Facility Letter; or (b) by an Acceding Company unless the Bank has received all of the documents and evidence specified in the relevant Accession Undertaking, in each case, in a form and substance satisfactory to the Bank.
The Acceding Company hereby accedes to the rights, and assume the obligations, of a “Company” under the Committed Facility Letter.