Examples of Accession Letter in a sentence
Finance Documents (h) The Assignment Agreement; (i) A Notice of Assignment of Insurances and acknowledgement thereof or standard letters of undertaking; (j) A Notice of Assignment of Earnings and acknowledgement thereof; (k) The Deed of Charge with the notices, transcripts and evidence required thereunder; (l) The duly executed and effective Accession Letter.
The future owner of the Vessel shall become the Borrower under this Agreement by execution of the Accession Letter provided it is wholly owned by the Guarantor.
Each Obligor makes the representations and warranties set out in this Clause 20 (Representations) to each Finance Party on the Signing Date, provided however that the representations and warranties set out in this Clause 20 (Representations) will not apply to the Borrower until the date of the execution of the relevant Accession Letter.
After the execution of an Accession Letter the acceding Borrower shall be bound by this Agreement and any other Accession Letters.
The accession shall take effect by the Borrower, the Guarantor and the Agent (on behalf of the Finance Parties) signing and executing the relevant Accession Letter, and the Agent is hereby irrevocably authorised by the other Finance Parties to execute any Accession Letter.