Additional Facility Accession Agreement Clause Samples
An Additional Facility Accession Agreement is a contractual provision that allows new parties to join an existing financing arrangement or credit facility. This clause outlines the process and requirements for an additional borrower or guarantor to become bound by the terms of the original agreement, often requiring the execution of an accession deed and satisfaction of certain conditions precedent. Its core practical function is to provide a clear and standardized mechanism for expanding the group of parties involved in a facility, thereby facilitating flexibility and scalability in financing arrangements.
Additional Facility Accession Agreement amend the Telenet Additional Facility Accession Agreement definition to delete the reference to “with such amendments as the Facility Agent may approve or reasonably require” and replace it with a reference to “with such amendments as may be agreed between UPC Broadband and the relevant Lender or Lenders under the proposed Additional Facility”.
Additional Facility Accession Agreement. To: [ ] as Facility Agent [ ] as Security Agent From: [PROPOSED LENDER(S)] Date: [ ] UPC Broadband Holding B.V. - €1,072,000,000 Term Credit Agreement dated 16th January 2004 (as amended, the Credit Agreement)
1. Terms defined in the Credit Agreement shall have the same meaning in this Deed.
2. We refer to Clause 9.2 (Additional Facilities) of the Credit Agreement.
3. We, [Name of Lender(s)] agree:
(a) to become party to and to be bound by the terms of the Credit Agreement as [a] Lender(s) in accordance with Clause 9.2 (Additional Facilities); and
(b) to become a party to the Security Deed as a Lender and to observe, perform and be bound by the terms and provisions of the Security Deed in the capacity of Lender in accordance with clause 9.3 (Transfers by Lenders) of the Security Deed.
4. On the date on which this agreement becomes effective and where such Lender is a Lender under an Additional Facility to which a Borrower is a Dutch Borrower, the Lender declares and represents to the Finance Parties and UPC Broadband that [it is [exempted from the requirement to be a Professional Market Party because it forms part of a closed circle (besloten ▇▇▇▇▇) with UPC Broadband.][:
(a) it is a Professional Market Party;
(b) it acknowledges that, as a consequence, it has no benefit from the (creditor) protection under the Dutch Banking Act for non-professional Market Parties; and
(c) it has made its own credit appraisal of UPC Broadband.]
5. Our Additional Facility Commitment is EUR/US$/Additional Currency [ ]. [If the Additional Facility Commitment is denominated in US Dollars or an Additional Currency and any determination under the Credit Agreement needs to be made by reference to a euro amount, the Facility Agent will translate the relevant US Dollar or Additional Currency amount into euros using the Agent’s Spot Rate of Exchange on the relevant date.]
6. [The Final Maturity Date in respect of our Additional Facility Commitment is [ ]/[Our Additional Facility Commitment will be repaid at a rate of [up to one] per cent. per annum starting on the day falling 12 months from the date of this accession agreement until [ ] on which date each Advance under this Additional Facility will be repaid in full].
7. The Availability Period in relation to this Additional Facility is [ ].
8. The Margin in relation to this Additional Facility is [ ] per annum. [If applicable set out how the Margin will be adjusted].
9. The commitment fee in relation to this Additional Facility und...
Additional Facility Accession Agreement. To: [ ] as Facility Agent [ ] as Security Agent From: [PROPOSED LENDER(S)] Date: [ ] UPC Broadband Holding B.V. - ε1,072,000,000 Term Credit Agreement dated 16th January 2004 (as amended, the Credit Agreement)
1. Terms defined in the Credit Agreement shall have the same meaning in this Deed.
2. We refer to Clause 2.2 (Additional Facilities) of the Credit Agreement.
3. We, [Name of Lender(s)] agree:
(e) to become party to and to be bound by the terms of the Credit Agreement as [a] Lender(s) in accordance with Clause 2.2 (Additional Facilities); and
(f) to become a party to the Security Deed as a Lender and to observe, perform and be bound by the terms and provisions of the Security Deed in the capacity of Lender in accordance with clause 9.3 (Transfers by Lenders) of the Security Deed.
Additional Facility Accession Agreement. To: [ ] as Facility Agent [ ] as Security Agent From: [PROPOSED LENDER(S)] Date: [ ] UPC Broadband Holding B.V. - ε1,072,000,000 Term Credit Agreement dated 16th January 2004 (as amended, the Credit Agreement)
1. Terms defined in the Credit Agreement shall have the same meaning in this Deed.
2. We refer to Clause 2.2 (Additional Facilities) of the Credit Agreement.
3. We, [Name of Lender(s)] agree:
(e) to become party to and to be bound by the terms of the Credit Agreement as [a] Lender(s) in accordance with Clause 2.2 (Additional Facilities); and
(f) to become a party to the Security Deed as a Lender and to observe, perform and be bound by the terms and provisions of the Security Deed in the capacity of Lender in accordance with clause 9.3 (Transfers by Lenders) of the Security Deed.