Acceding Bank Sample Clauses
The Acceding Bank clause defines the process and requirements for a new bank to join an existing syndicated loan agreement. Typically, this clause outlines the steps the new bank must follow, such as obtaining consent from existing parties, executing an accession deed, and assuming the rights and obligations of a lender under the agreement. Its core function is to facilitate the smooth addition of new lenders, ensuring all parties are aware of and agree to the new participant, thereby maintaining the integrity and operational clarity of the lending syndicate.
Acceding Bank. See §2.1.3.
Acceding Bank. The parties agree that with effect on and from the Accession Date the Acceding Bank will be deemed a party to each Transaction Document to which the Existing Banks are a party as a Bank.
Acceding Bank. See Section 16.1.2