Cession Agreement Sample Clauses

Cession Agreement. 14.1. In terms of the Loan Agreement, the Lender (Cessionary) has lent the Capital Amount to the Borrower (Cedant) for the sole purpose of acquiring Subscription Shares (that is VCC shares) in terms of the Subscription Agreement signed by the same Tax Payer. The Lender required security for the Loan and the Borrower is willing to cede in securitatem debiti and pledge the ceded rights in terms of this Clause 14 of this agreement. 14.2. The Cession 14.2.1. As security for the Loan, the Cedent hereby cedes in securitatem debiti and pledges to and in favour of the Cessionary the Ceded Rights on and with effect from the Advance Date, by their signature to this Agreement; 14.2.2. This pledge and cession incorporated herein is without prejudice and is in addition to and not in substitution of, any other security which may have been granted by the Cedent and/or any other Party to the Cessionary. The validity and/or operation of any such other security will not be affected by this Agreement. 14.3. This Cession comes into effect on the Advance Date and will terminate once the Cedent has fulfilled all his obligations under and in terms of this Loan and Cession Agreement;