Examples of Accession Memorandum in a sentence
Any Accession Memorandum delivered pursuant to clause 3.5 will take effect upon execution by the Security Trustee unless a later date has been agreed by the Chargor, the Additional Beneficiary and the Security Trustee.
A new lender which becomes a lender pursuant to the provisions of any Loan Agreement shall not be required to execute an Accession Memorandum but shall become a Beneficiary automatically provided that the Representative appointed to act in relation to that Loan Agreement has executed an Accession Memorandum on behalf of all the lenders.
Upon receipt by the Security Trustee of a duly completed Accession Memorandum, the Security Trustee will execute the Accession Memorandum and issue a security certificate to the Representative of the Additional Beneficiary and the Chargor will give notice thereof to the existing Beneficiaries, each Additional Beneficiary and the Chargor.
No person may become a Beneficiary unless that person or its Representative has entered into an Accession Memorandum and Relevant Documents recording the terms of the Relevant Liabilities.
Any communication will either be delivered by hand or sent by first class prepaid post or fax to the relevant party at its address or fax number shown on page 1 (or the relevant Accession Memorandum) unless it has communicated another address or fax number to the other parties in which case it must be sent to the last address or fax number so communicated.