The Loan Master Agreement serves as the foundational document for establishing and managing lending relationships in Nigeria, providing a comprehensive framework that complies with local banking regulations and financial laws. This agreement is typically used when parties anticipate an ongoing lending relationship that may involve multiple loan facilities over time. It incorporates all essential provisions required by Nigerian law and Central Bank regulations, including facility terms, security arrangements, covenants, and enforcement mechanisms. The document is designed to accommodate various types of lending facilities while maintaining consistency with Nigerian banking practices and regulatory requirements. The Master Agreement structure allows for efficient future lending through supplemental facility agreements that incorporate the master terms by reference.
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1. Parties: Identification of the lender and borrower, including their registered addresses and company registration details
2. Background: Context of the agreement and relationship between the parties
3. Definitions and Interpretation: Comprehensive definitions of terms used throughout the agreement and rules of interpretation
4. The Facility: Core terms of the lending facility, including type, purpose, and general conditions
5. Conditions Precedent: Requirements that must be satisfied before the facility becomes available
6. Utilization: Process and conditions for drawing down the loan facility
7. Interest: Interest calculation, payment periods, and default interest provisions
8. Repayment: Terms and schedule for repayment of the facility
9. Prepayment: Conditions and procedures for early repayment
10. Representations and Warranties: Statements of fact and assurances given by the borrower
11. Information Undertakings: Borrower's obligations to provide financial and other information
12. General Undertakings: Borrower's general operational and financial covenants
13. Events of Default: Circumstances constituting default and their consequences
14. Changes to Parties: Rules for assignment and transfer of rights and obligations
15. Administration: Administrative provisions including notices and calculations
16. Governing Law and Enforcement: Choice of Nigerian law and jurisdiction provisions
1. Security: Include when the loan is secured, detailing the security structure and enforcement rights
2. Guarantee: Include when there are guarantors to the facility
3. Financial Covenants: Include for corporate borrowers where specific financial metrics need to be maintained
4. Increased Costs and Tax Gross-Up: Include for longer-term or larger facilities where tax and regulatory changes need to be addressed
5. Multiple Currencies: Include if the facility can be drawn in multiple currencies
6. Anti-Money Laundering Provisions: Include for high-value facilities or where required by Nigerian AML regulations
7. Islamic Finance Provisions: Include when the facility needs to be Sharia-compliant
8. Syndication Provisions: Include when the facility may be syndicated to multiple lenders
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Utilization Request: Standard form for drawing down the facility
3. Form of Transfer Certificate: Standard form for transferring loan participations
4. Repayment Schedule: Detailed schedule of repayment dates and amounts
5. Financial Covenants Calculations: Formulae and methods for calculating financial covenants
6. Form of Compliance Certificate: Template for periodic compliance certification
7. Acceptable Banks: List of banks acceptable for account maintenance
8. Existing Security: Details of any existing security arrangements
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Manufacturing
Real Estate & Construction
Oil & Gas
Telecommunications
Agriculture
Healthcare
Retail & Consumer Goods
Transportation & Logistics
Technology
Mining & Minerals
Power & Energy
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit Analysis
Operations
Company Secretariat
Transaction Banking
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Legal Counsel
Compliance Officer
Credit Risk Manager
Relationship Manager
Corporate Banking Officer
Loan Officer
Financial Controller
Company Secretary
Risk Management Officer
Banking Operations Manager
Credit Analysis Manager
Transaction Banking Manager
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