Document background
The Amended and Restated Agreement is a crucial legal instrument used in Nigerian business practice when parties need to substantially modify an existing agreement while maintaining certain original terms. This document type is particularly relevant when multiple amendments have been made to an original agreement, making it necessary to consolidate all changes into a single, clear document for easier reference and implementation. It must comply with Nigerian law requirements for contract formation, stamping, and registration where applicable. The agreement typically includes detailed recitals explaining the history of the original agreement, the reason for amendments, and the parties' intention to create a comprehensive restatement. It's commonly used in complex commercial transactions, corporate restructurings, financing arrangements, and long-term business relationships where terms need to be updated to reflect changed circumstances or new business realities.
