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Financial Support Agreement
"I need a Financial Support Agreement under Nigerian law for a tech startup receiving NGN 50 million in growth funding from a local development bank, with quarterly disbursements starting March 2025 and security in the form of company assets."
1. Parties: Identification of the financial support provider and recipient, including registration details and addresses
2. Background: Context of the agreement, purpose of the financial support, and relationship between parties
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Financial Support Terms: Details of the financial support amount, purpose, and terms of provision
5. Disbursement Mechanism: Process and requirements for disbursement of funds
6. Repayment Terms: Schedule, method, and conditions for repayment of the financial support
7. Interest and Fees: Details of any interest, charges, or fees applicable
8. Representations and Warranties: Statements of fact and assurances from both parties
9. Covenants: Ongoing obligations and commitments of the parties
10. Events of Default: Circumstances constituting default and consequences
11. Regulatory Compliance: Compliance with Nigerian banking and financial regulations
12. Confidentiality: Protection and handling of confidential information
13. Termination: Circumstances and process for terminating the agreement
14. Dispute Resolution: Process for resolving disputes, including jurisdiction and applicable law
15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Security Arrangements: Details of any collateral or security provided - include when security is part of the agreement
2. Conditions Precedent: Pre-conditions for the agreement becoming effective - include for complex transactions or where specific requirements must be met before funding
3. Foreign Exchange Provisions: Currency conversion and exchange rate provisions - include when different currencies are involved
4. Guarantees: Terms of any third-party guarantees - include when guarantors are involved
5. Multiple Tranche Provisions: Terms for multiple disbursements - include when funding is provided in stages
6. Insurance Requirements: Required insurance coverage - include when specific insurance is needed to protect the financial support
7. Change of Control: Provisions dealing with ownership changes - include for corporate recipients
8. Step-In Rights: Lender's rights to take control in specific circumstances - include for significant financial support amounts
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates, amounts, and mechanisms
2. Schedule 2 - Security Details: Detailed description of any security or collateral provided
3. Schedule 3 - Conditions Precedent Documents: List of required documents and conditions to be satisfied
4. Schedule 4 - Form of Disbursement Request: Template for requesting disbursement of funds
5. Schedule 5 - Compliance Requirements: Detailed regulatory compliance requirements and reporting obligations
6. Schedule 6 - Form of Notices: Templates for various notices required under the agreement
7. Schedule 7 - Insurance Requirements: Detailed insurance requirements and specifications
8. Appendix A - Key Performance Indicators: Metrics for monitoring the use and performance of the financial support
Authors
Applicable Law
Business Day
CBN
Conditions Precedent
Confidential Information
Default Interest
Disbursement
Disbursement Date
Disbursement Request
Effective Date
Event of Default
Facility
Financial Indebtedness
Financial Support
Financial Support Amount
Financial Year
Force Majeure
Interest Period
Interest Rate
Lender
Material Adverse Effect
Naira
Permitted Purpose
Principal Amount
Recipient
Repayment Date
Repayment Schedule
Security
Security Documents
Support Period
Tax
Transaction Documents
BOFIA
Authorizations
Availability Period
Bank Account
Borrower
Charged Assets
Drawdown
Due Date
Encumbrance
Financial Statements
Guarantee
Guarantor
Indebtedness
Interest Payment Date
Laws
Loan
Outstanding Amount
Payment Date
Potential Event of Default
Purpose
Reference Banks
Secured Obligations
Security Interest
Subsidiary
Term
Working Day
Financial Support Terms
Disbursement
Repayment
Interest and Fees
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Remedies
Payment Terms
Currency and Exchange
Regulatory Compliance
Anti-Money Laundering
Information and Reporting
Confidentiality
Assignment and Transfer
Force Majeure
Termination
Governing Law
Dispute Resolution
Notices
Amendments
Severability
Entire Agreement
Counterparts
Third Party Rights
Waiver
Indemnification
Tax
Costs and Expenses
Further Assurance
Set-off Rights
Guarantee
Banking & Financial Services
Manufacturing
Agriculture
Oil & Gas
Technology
Real Estate
Infrastructure
Healthcare
Education
Telecommunications
Mining
Retail
Energy
Transportation & Logistics
Construction
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Finance
Credit
Business Development
Operations
Investment
Corporate Secretariat
Corporate Banking
Strategy
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Financial Controller
Treasury Manager
Risk Manager
Compliance Officer
Investment Manager
Business Development Manager
Credit Risk Officer
Company Secretary
Financial Analyst
Corporate Finance Manager
Managing Director
Relationship Manager
Transaction Manager
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