Document background
The Deed of Accession Loan Agreement is a crucial document in New Zealand's corporate lending landscape, typically employed when new entities need to join existing loan facilities. This might occur during corporate restructuring, acquisition financing, or when additional borrowers are required under an existing facility. The deed ensures that the acceding party becomes legally bound by all terms and conditions of the original loan agreement, while also addressing any specific requirements or modifications needed for the new party. It must comply with New Zealand legal requirements, particularly regarding deed execution under the Property Law Act 2007. The document includes detailed provisions about the accession mechanics, representations and warranties, security arrangements, and any conditions precedent that must be satisfied before the accession becomes effective.
