Security Sharing Agreement Template for Nigeria

1. Security Agent Provisions: Detailed provisions regarding the appointment, roles, and responsibilities of a security agent, used when a security agent structure is preferred over a trustee structure

2. Intercreditor Provisions: Additional provisions governing relationships between different classes of creditors, used when there are multiple creditor groups

3. Standstill Provisions: Provisions preventing individual enforcement actions during a specified period, used in complex multi-creditor arrangements

4. New Money Provisions: Provisions governing the introduction of new debt and security, used when future financing is contemplated

5. Debt Purchase Transactions: Provisions governing debt buy-backs or trading, used when active debt trading is expected

6. Common Currency Calculations: Provisions for currency conversion and calculations, used when multiple currencies are involved

1. Form of Accession Deed: Standard form for new parties joining the agreement

2. Security Documents: List and details of all security documents covered by the agreement

3. Contact Details: Detailed contact information for all parties

4. Initial Security Assets: Schedule of assets subject to security interests at signing

5. Form of Default Notice: Standard form for notifying defaults under the agreement

6. Voting Procedures: Detailed procedures for decision-making and voting

7. Distribution Waterfall: Detailed order of priority for distribution of proceeds