Common use of Creditor Accession Undertaking Clause in Contracts

Creditor Accession Undertaking. With effect from the date of acceptance by the Security Agent (and in the case of a Hedge Counterparty or any Affiliate of a Senior Facility Creditor) and by the Agent, of a Creditor Accession Undertaking duly executed and delivered to the Security Agent by the relevant acceding party or, if later, the date specified in that Creditor Accession Undertaking: (a) any Party ceasing entirely to be a Creditor shall be discharged from further obligations towards the Security Agent and other Parties under this Agreement and their respective rights against one another shall be cancelled (except in each case for those rights which arose prior to that date); (b) as from that date, the replacement or new Creditor shall assume the same obligations and become entitled to the same rights, as if it had been an original Party in the capacity specified in the Creditor Accession Undertaking; and (c) to the extent envisaged by the Senior Term Facilities Agreement, any new party acceding to this Agreement as a Hedge Counterparty shall also become party to the Senior Term Facilities Agreement as a Hedge Counterparty and shall assume the same obligations and become entitled to the same rights as if it had been an original party to the Senior Term Facilities Agreement as a Hedge Counterparty.

Creditor Accession Undertaking. ‌ With effect from the date of acceptance by the Security Agent and (and in the case of a Hedge Counterparty or any Affiliate of a Senior Facility Creditor) and by the Agent, of a Creditor Accession Undertaking duly executed and delivered to the Security Agent by the relevant acceding party or, if later, the date specified in that Creditor Accession Undertaking: (a) any Party ceasing entirely to be a Creditor shall be discharged from further obligations towards the Security Agent and other Parties under this Agreement and their respective rights against one another shall be cancelled (except in each case for those rights which arose prior to that date); (b) as from that date, the replacement or new Creditor shall assume the same obligations and become entitled to the same rights, as if it had been an original Party in the capacity specified in the Creditor Accession Undertaking; and (c) to the extent envisaged by the Senior Term Facilities Agreement, any new Ancillary Lender (which is an Affiliate of a Senior Facility Creditor) or any party acceding to this Agreement as a Hedge Counterparty shall also become party to the Senior Term Facilities Agreement as a an Ancillary Lender or Hedge Counterparty (as the case may be) and shall assume the same obligations and become entitled to the same rights as if it had been an original party to the Senior Term Facilities Agreement as a an Ancillary Lender or Hedge CounterpartyCounterparty (as the case may be).

Creditor Accession Undertaking. With effect from the date of acceptance by the Security Agent and (and in the case of a Hedge Counterparty Counterparty, Cash Management Provider or any Affiliate of a Senior Facility Creditor) and ), by the Agent, Agent of a Creditor Accession Undertaking duly executed and delivered to the Security Agent by the relevant acceding party or, if later, the date specified in that Creditor Accession Undertaking: (a) any Party ceasing entirely to be a Creditor shall be discharged from further obligations towards the Security Agent and other Parties under this Agreement and their respective rights against one another shall be cancelled (except in each case for those rights which arose prior to that date); (b) as from that date, the replacement or new Creditor shall assume the same obligations and become entitled to the same rights, as if it had been an original Party in the capacity specified in the Creditor Accession Undertaking; and (c) to the extent envisaged by the Senior Term Facilities Agreement, any new party acceding to this Agreement as Ancillary Lender (which is an Affiliate of a Hedge Counterparty Senior Facility Creditor) shall also become party to the Senior Term Facilities Agreement as a Hedge Counterparty an "Ancillary Lender" and shall assume the same obligations and become entitled to the same rights as if it had been an original party to the Senior Term Facilities Agreement as a Hedge Counterpartyan Ancillary Lender.

Creditor Accession Undertaking. With effect from the date of acceptance by the Security Agent (and in the case of a Hedge Counterparty or any Affiliate of a Senior Facility Creditor) and by the Agent, of a Creditor Accession Undertaking duly executed and delivered to the Security Agent by the relevant acceding party or, if later, the date specified in that Creditor Accession Undertaking: (a) any Party ceasing entirely to be a Creditor shall be discharged from further obligations towards the Security Agent and other Parties under this Agreement and their respective rights against one another shall be cancelled (except in each case for those rights which arose prior to that date); (b) as from that date, the replacement or new Creditor shall assume the same obligations and become entitled to the same rights, as if it had been an original Party to this Agreement in the capacity specified in the Creditor Accession Undertaking; and (c) to the extent envisaged by the Senior Term Facilities Agreement, any new Ancillary Lender (which is an Affiliate of a Lender) or any party acceding to this Agreement as a Hedge Counterparty shall also become a party to the Senior Term Facilities Agreement as a an “Ancillary Lender” or “Hedge Counterparty Counterparty” (as the case may be) and shall assume all the same obligations and become entitled to the same rights as if it had been an original party to that the Senior Term Facilities Agreement as a an Ancillary Lender or Hedge CounterpartyCounterparty (as the case may be).