Common use of New Obligor Clause in Contracts

New Obligor. (a) If any member of the Group gives any security, guarantee, indemnity or other assurance against loss in respect of any of the Liabilities, the Borrower will procure that the person giving that assurance becomes a Party to this Agreement as an Obligor by executing and delivering to the Security Trustee an Obligor Accession Deed.

New Obligor. (a) If any member of the Group gives any security, guarantee, indemnity or other assurance against loss in respect of any of the Liabilities, the Borrower Obligors will procure that the person giving that assurance becomes a Party to this Agreement as an Obligor by executing and delivering to the Security Trustee Agent an Obligor Accession Deed.