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1. Parties: Identification of the parties: Collateral provider/grantor and collateral receiver/secured party
2. Background: Context of the security arrangement and reference to any primary obligations
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Grant of Security Interest: Creation and nature of the security interest over the collateral
5. Secured Obligations: Description of the obligations being secured by the collateral
6. Representations and Warranties: Statements about ownership, authority, and status of the collateral
7. Covenants: Ongoing obligations regarding maintenance and preservation of the collateral
8. Events of Default: Circumstances constituting default and triggering enforcement rights
9. Enforcement: Rights and procedures for enforcing the security interest
10. Power of Attorney: Appointment of secured party as attorney for enforcement purposes
11. Notices: Process and requirements for serving notices
12. Governing Law and Jurisdiction: Confirmation of Nigerian law as governing law and jurisdiction
1. Registration Requirements: Required when the collateral must be registered with authorities
2. Insurance: Required when the collateral must be insured
3. Third Party Rights: Required when there are existing or potential third-party interests
4. Further Assurance: Optional clause for additional documentation or actions
5. Assignment and Transfer: Required when transfer rights need to be addressed
6. Costs and Expenses: Optional section detailing responsibility for costs
7. Severability: Optional boilerplate for clause validity
8. Multiple Counterparts: Optional when document may be signed in counterparts
1. Schedule 1 - Description of Collateral: Detailed description and identification of the collateral assets
2. Schedule 2 - Secured Obligations: Detailed description of the secured obligations if complex
3. Schedule 3 - Form of Notice: Standard form notices for various purposes
4. Schedule 4 - Permitted Security Interests: List of pre-existing or permitted security interests if any
5. Schedule 5 - Registration Requirements: Details of required registrations and filings
6. Appendix A - Valuation Methodology: Methodology for valuing collateral if required
7. Appendix B - Enforcement Procedures: Detailed procedures for enforcement and sale
Banking
Financial Services
Real Estate
Manufacturing
Oil and Gas
Agriculture
Construction
Trade and Commerce
Transportation
Telecommunications
Legal
Finance
Risk Management
Compliance
Credit
Corporate Finance
Security Operations
Commercial
Banking Operations
Asset Management
Legal Counsel
Finance Manager
Risk Manager
Compliance Officer
Credit Manager
Corporate Finance Director
Security Trustee Officer
Commercial Director
Chief Financial Officer
Banking Operations Manager
Loan Officer
Asset Manager
Transaction Manager
Legal Director
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