Collateral In Loan Agreement Template for Nigeria

1. Insurance: Requirements for insurance of collateral, used when collateral is physical property requiring insurance protection

2. Third Party Rights: Provisions regarding rights of third parties, used when third-party interests might exist in the collateral

3. Further Assurance: Obligations to execute additional documents, used in complex security arrangements

4. Security Margin: Provisions for maintaining specific collateral value ratios, used for fluctuating-value collateral

5. Successive Security Interests: Provisions regarding creation of subsequent security interests, used when multiple security interests might exist

6. Release and Discharge: Conditions for release of security, used in complex or long-term arrangements

7. Cross-Default: Provisions linking defaults under other agreements, used in multiple facility arrangements

8. Currency Provisions: Provisions for handling foreign currency collateral, used when collateral is in non-Naira currency

1. Schedule 1 - Description of Collateral: Detailed technical or legal description of all collateral assets

2. Schedule 2 - Secured Obligations: Detailed description of all secured obligations including reference to primary loan agreement

3. Schedule 3 - Perfection Requirements: Specific filing, registration, and notice requirements for different types of collateral

4. Schedule 4 - Form of Notices: Standard forms for notices to third parties, government authorities, or registration bodies

5. Schedule 5 - Insurance Requirements: Specific insurance requirements for different types of collateral

6. Appendix A - Related Security Documents: List and copies of related security documents or filings

7. Appendix B - Existing Security Interests: Details of any existing security interests affecting the collateral

8. Appendix C - Valuation Reports: Current valuation reports or appraisals of the collateral