Common use of Accessions Clause in Contracts

Accessions. On the date on which an Accession Letter is delivered pursuant to this Agreement, that Acceding Shareholder shall become a Party as a Shareholder and shall be bound by and comply with all the terms of this Agreement. In particular: (i) Affiliates of an existing Shareholder shall execute and deliver the corresponding Accession Letter upon acquisition of any Shares or New Securities, and shall become a Party to this Agreement in the same condition of such Shareholder (i.e. as the First Investor Shareholder, a Second and Third Investor Shareholder, a Key Executive Party, or a Remaining Shareholder); and (ii) any other person which is not an Affiliate of an existing Shareholder, shall execute and deliver the corresponding Accession Letter upon acquisition of any Shares or New Securities, and shall become a Party to this Agreement as a Remaining Shareholder.

Appears in 2 contracts

Sources: Shareholders' Agreement, Shareholders Agreement