Get Accession Letter

The deed of accession is a document that, when signed, binds new shareholders to any pre-existing shareholders agreement. Having a deed of accession saves considerable time and money because it removes the need to redraft the shareholders agreement each time a new shareholder joins.

by Practical Law Banking and Finance. An accession agreement used for a new guarantor, security provider or obligor to accede as a party to a syndicated facility agreement.

Terms: Accession: The acquisition of title of personal property that is attained through the process of putting labor or raw materials into the improvement of the personal property. Acquisition by accession occurs when one person steals the personal property of someone else and adds labor and/or materials to it.

Accession is the act of taking up a position as the ruler of a country. A country's accession to a group of countries or to an association is the joining of that country to the group of countries or association.

Accession refers to the act of acquiring a property or goods of one party by another, and improving the worth of those goods, or turning that property into something better.

Accession Agreement means an Accession Agreement in the form attached respectively to the Guaranty and Environmental Indemnity as Annex 1 thereto, which agreement causes the Person executing and delivering the same to the Administrative Agent to become a party to the Guaranty and the Environmental Indemnity.

An example of accession is as follows: If one person's property is covered in unwanted alfalfa, and he allows someone else to come cut that alfalfa and turn it into bales of feed for livestock, the person who transformed the property (alfalfa) may acquire the finished product (bails of feed) by accession.

More Definitions of Accession Notice Accession Notice means in respect of a proposed Additional Obligor, a notice substantially in the form set out in Schedule 4 ( Form of Accession Notice ) duly completed and signed on behalf of the proposed Additional Obligor and the Obligors' Agent.