Line Of Credit Agreement Template for Nigeria

1. Currency Provisions: Required when facility is provided in foreign currency, detailing exchange rate mechanisms and risk allocation

2. Islamic Banking Provisions: Required for Sharia-compliant facilities, replacing interest provisions with profit-sharing mechanisms

3. Multiple Borrower Provisions: Required when facility is extended to multiple borrowers, detailing joint and several liability

4. Security Trustee: Required when security is held by a trustee on behalf of multiple lenders

5. Increased Costs: Optional provisions dealing with regulatory changes affecting lender's costs

6. Set-off Rights: Additional rights of set-off against borrower's other accounts

7. Force Majeure: Provisions dealing with unforeseen circumstances affecting facility operation

1. Schedule 1 - Conditions Precedent: Detailed list of documents and conditions required before facility availability

2. Schedule 2 - Form of Drawdown Notice: Template for borrower to request drawdown under the facility

3. Schedule 3 - Calculation of Interest: Detailed methodology for interest calculation and examples

4. Schedule 4 - Security Documents: List and copies of all security documents

5. Schedule 5 - Specimen Signatures: Authorized signatories for facility operation

6. Schedule 6 - Fees and Charges: Detailed breakdown of all applicable fees and charges

7. Appendix A - Compliance Certificate: Template for periodic compliance certification by borrower

8. Appendix B - Financial Covenants: Detailed financial ratios and calculations required for covenant compliance