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Deed Of Charge And Assignment
"I need a Deed of Charge and Assignment under Nigerian law to secure a NGN 500 million facility to be provided by ABC Bank Limited to my manufacturing company, with security over our factory premises, machinery, and receivables."
1. Parties: Identification of the Chargor/Assignor and Chargee/Assignee with full legal names and addresses
2. Background: Recitals explaining the context of the security arrangement and any underlying facility or obligation
3. Definitions and Interpretation: Definitions of key terms used in the deed and rules of interpretation
4. Creation of Security: Express provisions creating the charge and assignment over the secured assets
5. Secured Obligations: Definition and scope of the obligations being secured by the charge and assignment
6. Representations and Warranties: Chargor's/Assignor's confirmations regarding ownership, authority, and status of the charged/assigned assets
7. Covenants: Positive and negative undertakings by the Chargor/Assignor regarding the secured assets and general obligations
8. Events of Default: Circumstances that would trigger enforcement rights
9. Enforcement: Powers and remedies available to the Chargee/Assignee upon default
10. Power of Attorney: Appointment of the Chargee/Assignee as attorney for specific purposes
11. Further Assurance: Obligation to execute further documents and take additional steps if required
12. Notices: Provisions for how formal communications between parties should be made
13. Assignment and Transfer: Provisions regarding the ability to transfer rights under the deed
14. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
15. Execution: Formal execution blocks meeting requirements for a deed under Nigerian law
1. Security Margin: Used when the security includes a requirement for maintaining a specific value ratio of security to secured obligations
2. Insurance: Required when charged assets must be insured and insurance proceeds are part of the security
3. Environmental Matters: Included when the charged property includes land or facilities with environmental considerations
4. Security Agent Provisions: Required in syndicated facilities where a security agent holds the security on behalf of multiple beneficiaries
5. Intercreditor Provisions: Needed when there are multiple secured creditors and their priorities need to be established
6. Release Mechanics: Detailed provisions for partial releases of security, used in complex transactions with multiple assets
7. Currency Provisions: Required when the secured obligations or charged assets involve multiple currencies
1. Schedule 1 - Secured Assets: Detailed description and/or list of all assets subject to the charge and assignment
2. Schedule 2 - Secured Obligations: Detailed description of the secured obligations, including any facility agreements or other underlying obligations
3. Schedule 3 - Properties: Details of any real property including title information and land registry particulars
4. Schedule 4 - Form of Notices: Template notices to be sent to relevant third parties regarding the assignment
5. Schedule 5 - Existing Security: Details of any existing security interests over the charged assets that will remain in place
6. Schedule 6 - Required Authorizations: List of regulatory or third-party consents required for the charge and assignment
7. Schedule 7 - Bank Accounts: Details of bank accounts subject to the security arrangement
Authors
Banking and Financial Services
Real Estate and Property Development
Manufacturing and Industrial
Oil and Gas
Infrastructure and Construction
Agriculture and Agribusiness
Telecommunications
Mining and Natural Resources
Power and Energy
Commercial Real Estate
Retail and Commerce
Transportation and Logistics
Legal
Finance
Risk Management
Compliance
Credit
Corporate Secretariat
Treasury
Property Management
Business Development
Operations
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Secretary
Risk Manager
Credit Manager
Loan Officer
Security Trustee
Relationship Manager
Compliance Officer
Property Manager
Asset Manager
Treasury Manager
Commercial Director
Business Development Manager
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