��������Ƶ

A Bond Waiver is a crucial document used in Nigerian financial markets when parties need to modify or waive certain requirements, covenants, or conditions specified in an original bond instrument without terminating the entire agreement. This document becomes necessary when circumstances require flexibility in the original bond terms, such as temporary relief from financial covenants, extension of payment dates, or modification of reporting requirements. The Bond Waiver must comply with Nigerian law, particularly the Companies and Allied Matters Act 2020 and the Investments and Securities Act 2007. It requires careful drafting to ensure it precisely identifies the provisions being waived, the duration of the waiver, and any conditions attached. The document is commonly used during financial restructuring, in response to changing market conditions, or when the issuer faces temporary challenges in meeting original bond terms.

1. Parties: Identification of all parties involved - the bond issuer, bondholder(s), and any relevant trustees or agents

2. Background: Details of the original bond issuance, including date, amount, and relevant terms

3. Definitions: Key terms used in the waiver document, including references to the original bond documentation

4. Details of Original Bond: Specific reference to the bond being waived, including issue date, maturity, and key terms

5. Waiver Declaration: Express statement of the rights, obligations, or conditions being waived

6. Scope of Waiver: Clear delineation of what is and isn't covered by the waiver

7. Duration of Waiver: Whether the waiver is temporary or permanent, and any relevant time periods

8. Consideration: Any consideration provided in exchange for the waiver

9. Representations and Warranties: Statements confirming the authority to grant the waiver and other relevant assurances

10. Governing Law: Confirmation that Nigerian law governs the waiver

11. Execution: Signature blocks and execution requirements