The Non-Recourse Loan Agreement is a critical financing instrument in Nigerian commercial practice, particularly suited for project finance and asset-based lending transactions. This document type is essential when lenders agree to look solely to specific assets for loan recovery, commonly used in real estate, infrastructure, and resource-based financing. The agreement must comply with Nigerian banking regulations, including BOFIA 2020 and CBN guidelines, while incorporating robust security and enforcement mechanisms. It typically includes detailed provisions for collateral valuation, maintenance, and enforcement procedures, reflecting the increased risk profile for lenders. The document becomes particularly relevant in large-scale project financing where project assets serve as the primary security, requiring careful structuring to ensure enforceability under Nigerian law.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies and defines the Lender and Borrower with full legal names and addresses
2. Background: Contextual information about the loan purpose and non-recourse nature
3. Definitions and Interpretation: Defines key terms and interpretation rules for the agreement
4. The Loan: Details of the loan amount, purpose, and disbursement terms
5. Non-Recourse Provisions: Explicit limitations on recourse and specification of the sole remedy against the collateral
6. Collateral: Detailed description of the security assets and perfection requirements
7. Conditions Precedent: Prerequisites for loan disbursement including documentation and regulatory requirements
8. Representations and Warranties: Borrower's statements about legal capacity, collateral ownership, and other material facts
9. Covenants: Borrower's ongoing obligations regarding collateral maintenance and reporting
10. Events of Default: Circumstances constituting default and consequences
11. Enforcement and Remedies: Lender's rights against the collateral upon default
12. Payments and Calculations: Payment mechanics, interest calculations, and fee structures
13. Tax Provisions: Treatment of taxes and withholding requirements
14. Changes to Parties: Rules for assignment and transfer of rights
15. Notices: Communication procedures between parties
16. Governing Law and Jurisdiction: Nigerian law governance and dispute resolution provisions
17. Boilerplate Provisions: Standard contractual provisions including severability and entire agreement clauses
1. Security Trustee Provisions: Required when multiple lenders are involved and a security trustee holds the collateral
2. Tranched Drawings: Include when the loan is to be drawn down in multiple instalments
3. Insurance: Detailed insurance requirements when collateral requires specific insurance coverage
4. Account Bank Provisions: Required when specific account control mechanisms are needed
5. Intercreditor Provisions: Include when there are multiple creditors with different priorities
6. Environmental Compliance: Required when collateral includes real estate or industrial assets
7. Islamic Finance Provisions: Include when the loan needs to be Sharia-compliant
1. Schedule 1 - Loan Terms: Detailed financial terms including amount, interest rate, maturity date
2. Schedule 2 - Collateral Description: Detailed technical description of the collateral assets
3. Schedule 3 - Conditions Precedent: List of required documents and conditions
4. Schedule 4 - Form of Drawdown Notice: Template for requesting loan disbursement
5. Schedule 5 - Repayment Schedule: Detailed payment dates and amounts
6. Schedule 6 - Form of Compliance Certificate: Template for periodic compliance reporting
7. Schedule 7 - Permitted Security: List of pre-approved security interests on the collateral
8. Appendix A - Required Insurance: Detailed insurance requirements for the collateral
9. Appendix B - Form of Transfer Certificate: Template for transferring loan interests
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Oil and Gas
Manufacturing
Infrastructure
Mining
Agriculture
Transportation
Energy
Telecommunications
Commercial Real Estate
Industrial Development
Relevant Teams
Legal
Finance
Risk Management
Compliance
Treasury
Credit
Corporate Finance
Project Finance
Investment
Operations
Security and Collateral Management
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Risk Manager
Credit Officer
Investment Manager
Project Finance Manager
Compliance Officer
Treasury Manager
Security Trustee Officer
Loan Officer
Corporate Finance Manager
General Counsel
Transaction Lawyer
Portfolio Manager
Asset Manager
Commercial Director
Find the exact document you need
Simple Interest Loan Contract
A Nigerian law-governed agreement establishing terms for a loan with simple interest calculation, including repayment terms and party obligations.
Download
Factoring Agreement
A Nigerian law-governed agreement establishing terms for the purchase of accounts receivable by a Factor from a Client, including pricing, procedures, and parties' obligations.
Download
Employees Loan Agreement
A Nigerian law-governed agreement establishing terms for workplace loans between employers and employees, including repayment through salary deductions.
Download
Co Financing Agreement
A Nigerian law-governed agreement establishing terms for multiple financial institutions to jointly finance a project, including contribution ratios, disbursement mechanisms, and inter-creditor arrangements.
Download
Litigation Funding Agreement
A Nigerian law-governed agreement setting out terms for third-party funding of litigation, including funding commitments, returns, and risk allocation.
Download
Loan Facilitation Agreement
A Nigerian law-governed agreement establishing terms for loan facilitation services between lenders and borrowers, ensuring regulatory compliance and defining party obligations.
Download
Simple Loan Term Sheet
A Nigerian law-governed preliminary document outlining key commercial and legal terms for a proposed loan facility, serving as the basis for a detailed loan agreement.
Download
Loan For Use Agreement
A Nigerian law-governed agreement allowing temporary, free use of an item or asset, with an obligation to return it in its original condition.
Download
Hire Purchase Agreement For Car
A Nigerian law-governed agreement for the purchase of a vehicle through installment payments, with ownership transferring upon final payment.
Download
International Loan Agreement
Nigerian law-governed agreement for international lending transactions, incorporating local regulatory requirements and international banking standards.
Download
Film Financing Agreement
A Nigerian law-governed agreement setting out terms for film production financing, including investment structure, rights, and profit-sharing arrangements.
Download
Undertaking Loan Agreement
A Nigerian law-governed loan agreement setting out terms, conditions, and undertakings between lender and borrower, with specific compliance requirements under Nigerian banking regulations.
Download
Trade Finance Agreement
Nigerian law-governed agreement establishing terms for trade finance facilities between financial institutions and trading entities, incorporating local regulatory requirements and international practices.
Download
Real Estate Loan Agreement
A Nigerian law-governed agreement establishing terms for a real estate-secured loan, including property security arrangements and regulatory compliance requirements.
Download
Project Finance Contract
A Nigerian law-governed agreement establishing terms for project financing of large-scale infrastructure or development projects, incorporating local regulatory requirements and international best practices.
Download
Official Loan Agreement
A Nigerian law-governed loan agreement establishing formal lending terms between parties, compliant with local banking regulations and financial laws.
Download
Margin Loan Agreement
A Nigerian law-governed agreement establishing terms for margin lending facilities, including loan terms, collateral requirements, and regulatory compliance measures.
Download
Loan Swap Agreement
A Nigerian law-governed agreement enabling the exchange of loan obligations between parties, including provisions for interest rate or currency swaps and regulatory compliance.
Download
Financing Contract Agreement
A Nigerian law-governed agreement establishing the terms and conditions of a financing facility between lender and borrower, including loan terms, security arrangements, and regulatory compliance requirements.
Download
Financial Support Agreement
A Nigerian law-governed agreement establishing terms for financial support between parties, including funding terms, repayment conditions, and regulatory compliance requirements.
Download
Financial Assistance Agreement
A Nigerian law-governed agreement establishing terms and conditions for providing financial assistance, including loan terms, security arrangements, and regulatory compliance requirements.
Download
Financial Agreement Between Two Parties
A Nigerian law-governed financial agreement template for structuring financial arrangements between two parties, ensuring regulatory compliance and clear terms.
Download
Car Loan Agreement Between Individuals
A Nigerian-law governed agreement between private individuals for a car loan, establishing terms, conditions, and security arrangements for vehicle financing.
Download
Car Loan Agreement Between Family
A Nigerian law-governed agreement formalizing a car loan arrangement between family members, including loan terms, vehicle security, and repayment provisions.
Download
Car Installment Agreement
A Nigerian law-governed agreement for vehicle purchase through installment payments, detailing payment terms, ownership rights, and party obligations.
Download
Car Finance Contract
A Nigerian law-governed agreement establishing terms and conditions for vehicle financing, including payment obligations, security interests, and regulatory compliance requirements.
Download
Bridge Financing Agreement
A Nigerian law-governed agreement providing temporary financing to bridge gaps between immediate capital needs and long-term funding solutions.
Download
Bridge Facility Agreement
A Nigerian law-governed temporary financing arrangement providing short-term funding while permanent financing is arranged.
Download
Auto Finance Contract
A Nigerian law-governed vehicle financing agreement that structures the terms and conditions for vehicle purchase financing, ensuring compliance with local banking and consumer protection regulations.
Download
Motorcycle Hire Purchase Agreement
A Nigerian law-governed agreement for motorcycle purchase through hire purchase arrangements, detailing payment terms, ownership rights, and obligations.
Download
Tri Party Loan Agreement
A Nigerian law-governed agreement establishing a three-way loan arrangement between lender, borrower, and a third party, detailing loan terms and parties' obligations.
Download
Standard Hire Purchase Agreement
A Nigerian law-governed agreement enabling purchase of goods through installments, with ownership transferring upon final payment.
Download
Master Asset Finance Agreement
A Nigerian law-governed master agreement establishing terms for ongoing asset financing arrangements between a financial institution and borrower.
Download
Development Credit Agreement
A Nigerian law-governed agreement establishing terms for development financing, including credit facility arrangements, project implementation requirements, and compliance obligations.
Download
Consortium Loan Agreement
A Nigerian law-governed agreement establishing terms for a multi-lender loan facility, including syndication and security arrangements.
Download
Small Business Loan Agreement
Nigerian-law governed loan agreement between a financial institution and small business, detailing loan terms, security, and obligations under CBN regulations.
Download
Small Credit Agreement
Nigerian-law governed Small Credit Agreement template for structured small-scale lending transactions, compliant with local banking and consumer protection regulations.
Download
Mortgage Loan Purchase Agreement
A Nigerian law-governed agreement for the sale and purchase of mortgage loan portfolios between financial institutions, including transfer and servicing arrangements.
Download
Loan Agreement Between Lender Borrower And Guarantor
Nigerian law-governed loan agreement establishing lending terms between lender, borrower, and guarantor, with comprehensive security and obligation provisions.
Download
Monthly Payment Plan Agreement
A Nigerian law-governed agreement establishing structured monthly payment terms between parties, including payment schedules, conditions, and regulatory compliance requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)