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Deed Of Accession Loan Agreement

Deed Of Accession Loan Agreement Template for Germany

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Key Requirements PROMPT example:

Deed Of Accession Loan Agreement

"Need a Deed of Accession Loan Agreement under German law for our subsidiary GmbH to join our existing €50M facility agreement as an additional borrower by March 2025, with cross-guarantees from existing group companies."

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Document background
The Deed of Accession Loan Agreement is utilized when a new party needs to join an existing loan arrangement under German law. This document is particularly relevant in scenarios involving corporate restructuring, refinancing, or when adding new borrowers or guarantors to an existing facility. The deed ensures seamless integration of the new party while maintaining compliance with German legal requirements, particularly the Bürgerliches Gesetzbuch (BGB) and banking regulations. It includes detailed provisions about the accession process, rights and obligations being assumed, and any conditions precedent that must be satisfied. This document type is crucial for maintaining legal certainty and continuity in complex lending arrangements while accommodating changes in the participant structure.
Suggested Sections

1. Parties: Identification of all parties to the agreement including the existing lender(s), borrower(s), and acceding party

2. Background: Context of the original loan agreement and the purpose of the accession

3. Definitions and Interpretation: Definitions from the original loan agreement and any new terms specific to the accession

4. Accession: Core provisions regarding the acceding party's acceptance of rights and obligations under the loan agreement

5. Representations and Warranties: Statements of fact and assurances given by the acceding party

6. Conditions Precedent: Documents and conditions required before the accession becomes effective

7. Confirmations and Undertakings: Specific commitments and confirmations by the acceding party regarding their obligations

8. Costs and Expenses: Allocation of costs related to the accession process

9. Notices: Communication procedures and contact details for all parties

10. Governing Law and Jurisdiction: Confirmation of German law as governing law and jurisdiction provisions

11. Execution: Signature blocks and execution formalities complying with German law requirements

Optional Sections

1. Security Confirmation: Required when the original loan agreement includes security arrangements that need to be extended to the acceding party

2. Guarantee Provisions: Needed when the acceding party is providing or receiving guarantees as part of the arrangement

3. Tax Provisions: Detailed tax clauses required when there are specific tax implications of the accession

4. Currency Provisions: Required when multiple currencies are involved in the loan arrangement

5. Assignment and Transfer: Additional provisions regarding future transfers or assignments, if permitted

6. Financial Covenants: Specific financial obligations of the acceding party, if different from the original agreement

Suggested Schedules

1. Original Loan Agreement: Copy or summary of the original loan agreement being acceded to

2. Conditions Precedent Documents: List of required documents and conditions to be satisfied

3. Form of Accession Notice: Template for formal notice of accession

4. Contact Details: Comprehensive list of contact information for all parties

5. Security Documents: Copies or summaries of relevant security documents

6. Financial Information: Relevant financial statements or information of the acceding party

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Accession Date
Acceding Party
Additional Obligor
Business Day
Effective Date
Existing Lenders
Existing Obligors
Facility Agreement
Finance Documents
Finance Parties
Financial Indebtedness
Guarantee
Interest Period
Loan Agreement
Material Adverse Effect
Original Lender
Original Obligor
Original Loan Agreement
Permitted Security
Principal Amount
Relevant Jurisdiction
Security
Security Documents
Secured Obligations
Transaction Documents
Transfer Date
German Business Day
German Law Requirements
German Security
Secured Parties
Security Agent
Facility Agent
Euro
Event of Default
Accession Documents
Conditions Precedent
Confirmation Date
Existing Security
New Security
Parties
Permitted Transfer
Relevant Rate
Representatives
Clauses
Accession
Representations and Warranties
Conditions Precedent
Security
Guarantee
Payment Obligations
Interest
Fees
Tax Gross-up
Increased Costs
Events of Default
Financial Covenants
Information Undertakings
General Undertakings
Assignment and Transfer
Amendments and Waivers
Notices
Calculations and Certificates
Partial Invalidity
Remedies and Waivers
Confidentiality
Counterparts
Third Party Rights
Governing Law
Enforcement
Jurisdiction
Process Agent
Language
Notarization Requirements
Costs and Expenses
Indemnities
Set-off
Currency Provisions
Entire Agreement
Survival
Further Assurance
Relevant Industries

Banking & Financial Services

Corporate Finance

Private Equity

Real Estate

Infrastructure

Manufacturing

Technology

Energy

Healthcare

Transportation & Logistics

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Secretariat

Credit

Corporate Finance

Banking

Relevant Roles

Legal Counsel

Finance Director

Chief Financial Officer

Treasury Manager

Corporate Lawyer

Banking Lawyer

Compliance Officer

Risk Manager

Corporate Secretary

Finance Manager

Managing Director

Credit Officer

Relationship Manager

Transaction Manager

Industries
Bürgerliches Gesetzbuch (BGB) - German Civil Code: Primary legislation governing contractual relationships, loan agreements (§§ 488-507), and general contract formation rules in Germany
Kreditwesengesetz (KWG) - German Banking Act: Regulates banking transactions and financial services, including requirements for loan agreements and credit institutions
Handelsgesetzbuch (HGB) - German Commercial Code: Relevant for commercial aspects of the loan agreement, especially if parties are commercial entities
Beurkundungsgesetz (BeurkG) - German Notarisation Act: Governs the formal requirements for notarization of documents, which may be required for certain types of loan agreements
Schuldverschreibungsgesetz (SchVG) - German Debenture Act: Relevant for structured debt arrangements and collective action clauses in loan agreements
Geldwäschegesetz (GwG) - German Anti-Money Laundering Act: Contains provisions regarding identification and documentation requirements for financial transactions
Verbraucherkreditgesetz (integrated into BGB): Specific provisions for consumer credit agreements (if applicable), including mandatory information and cooling-off periods
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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