A Deed of Accession Loan Agreement is utilized when a new party needs to join an existing loan arrangement in India, whether as an additional borrower, lender, or guarantor. This document is crucial in syndicated lending, refinancing arrangements, or corporate restructuring scenarios where the original loan agreement needs to accommodate new participants. The deed must comply with Indian contract law, banking regulations, and registration requirements, including the Banking Regulation Act, 1949, and the Registration Act, 1908. It typically contains detailed provisions regarding the acceding party's obligations, representations, warranties, and security arrangements. The document is particularly important in ensuring seamless expansion of existing credit facilities while maintaining the integrity of the original loan structure and security arrangements.
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1. Parties: Identifies all parties to the deed including the existing lender(s), borrower(s), and the acceding party
2. Background: Recitals explaining the existing loan agreement and the purpose of the accession
3. Definitions and Interpretation: Defines key terms and establishes interpretation principles, including references to definitions in the original loan agreement
4. Accession: Core provisions detailing how the acceding party joins the existing loan agreement and assumes rights/obligations
5. Representations and Warranties: Statements of fact and assurances given by the acceding party
6. Conditions Precedent: Documents and conditions that must be satisfied before the accession becomes effective
7. Covenants: Ongoing obligations and promises of the acceding party
8. Security Confirmation: Confirmation of existing security arrangements and their application to the acceding party
9. Fees and Expenses: Details of any fees payable in connection with the accession
10. Notices: Communication procedures and contact details for all parties
11. Governing Law and Jurisdiction: Specifies Indian law as governing law and jurisdiction for disputes
12. Execution: Formal execution blocks for all parties with necessary attestation requirements
1. Additional Security: Required if new security is being provided by the acceding party
2. Guarantee Provisions: Needed if the acceding party is joining as a guarantor
3. Limitation of Liability: May be included if specific limitations on the acceding party's liability are negotiated
4. Tax Provisions: Required if specific tax arrangements or gross-up provisions apply to the acceding party
5. Currency Provisions: Needed if the acceding party will make payments in a different currency
6. Step-In Rights: Required if specific intervention rights are granted to certain parties
7. Subordination Provisions: Needed if the acceding party's rights need to be subordinated to existing parties
1. Original Loan Agreement: Copy or summary of the existing loan agreement being acceded to
2. Acceding Party Details: Complete corporate or individual details of the acceding party
3. Conditions Precedent Documents: List of all required documents and conditions to be satisfied
4. Form of Effective Date Certificate: Template certificate confirming satisfaction of conditions precedent
5. Security Documents: Details or copies of any security arrangements
6. Fee Schedule: Breakdown of any fees payable in connection with the accession
7. Contact Details: Complete contact information for all parties for notices
8. Required Confirmations: Forms of any required corporate or regulatory confirmations
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate & Construction
Manufacturing
Infrastructure
Technology
Healthcare
Energy & Utilities
Telecommunications
Retail & Consumer
Agriculture
Mining & Natural Resources
Transportation & Logistics
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Transaction Management
Commercial
Company Secretarial
Risk Management
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Finance Manager
Treasury Manager
Company Secretary
Risk Manager
Compliance Officer
Banking Relationship Manager
Credit Manager
Transaction Manager
Senior Loan Officer
Corporate Banking Officer
Legal Director
Financial Controller
Commercial Director
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