Common use of Additional Party Clause in Contracts

Additional Party. It is hereby agreed that, as and with effect from the Effective Date, the New Borrower shall be, and is hereby made, an additional party to, and an additional borrower (on a joint and several basis with the Original Borrowers) under, the Principal Agreement and the Principal Agreement shall henceforth be construed in all respects as if references to the “Borrowers” included reference to the New Borrower in addition to the Original Borrowers.

Appears in 2 contracts

Sources: Supplemental Agreement, Supplemental Agreement (Gala Properties Inc.)

Additional Party. It is hereby agreed that, as and with effect from the Effective Date, the New Borrower shall be, and is hereby made, an additional party toto the Principal Agreement, and an additional borrower (on a as joint and several basis borrower with the Original Borrowers) underBorrower, the Principal Agreement and the Principal Agreement shall henceforth be construed and treated in all respects as if references therein to the “Borrowers” "Borrower" included reference to the New Borrower in addition to the Original BorrowersBorrower.

Appears in 1 contract

Sources: Supplemental Agreement (Diana Shipping Inc.)