Common use of Additional Participants Clause in Contracts

Additional Participants. Upon Vendor’s acceptance of a new participant in the Network, Vendor will coordinate for the new Participant to execute and become bound by this Agreement. To accomplish this, the new participant will enter into a Subscription Agreement, pursuant to which the new participant agrees to be bound by this Agreement. The Participants and Vendor agree that upon execution of the Subscription Agreement by a duly authorized representative of Vendor, all then- current Participants shall be deemed to be signatories to such Subscription Agreement with the result being that current Participants and the new participant are all bound by the Agreement and obligated to each other in accordance with its terms. The new participant shall not be granted the right to participate in the particular service until both it and Vendor execute the Subscription Agreement.