Document background
The Deed of Accession Loan Agreement is a crucial document in Nigerian banking and finance practice, typically used when new parties need to join existing loan facilities or when loan arrangements are being restructured or expanded. This document type is particularly relevant in project finance, syndicated lending, and corporate finance transactions where additional borrowers or lenders need to be accommodated within an existing facility structure. The deed must comply with Nigerian legal requirements, including those set out in CAMA 2020 and BOFIA 2020, and typically includes detailed provisions on accession mechanics, representations and warranties, security arrangements, and conditions precedent. It's particularly important in Nigeria's dynamic business environment where corporate growth and project expansion often necessitate the modification of existing loan arrangements.
