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Revenue Sharing Joint Development Agreement Template for Nigeria

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Key Requirements PROMPT example:

Revenue Sharing Joint Development Agreement

"I need a Revenue Sharing Joint Development Agreement under Nigerian law for a mixed-use real estate project in Lagos, where a local developer and foreign investor will collaborate on a 50-50 basis, with project completion expected by March 2025."

Document background
The Revenue Sharing Joint Development Agreement is essential for parties entering into collaborative development projects in Nigeria where profits or revenues will be shared among multiple stakeholders. This document type is commonly used in real estate, infrastructure, and resource development projects where different parties contribute various forms of capital, expertise, or assets. It must comply with Nigerian legislation, including the Companies and Allied Matters Act 2020, Investment and Securities Act, and sector-specific regulations. The agreement typically covers project scope, revenue sharing mechanisms, management structure, regulatory compliance, and dispute resolution procedures. It's particularly important in the Nigerian context due to local content requirements and specific land use regulations that must be considered in development projects.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement

2. Background: Context of the agreement, including brief description of the project and parties' intentions

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Scope of Development: Detailed description of the development project, its objectives, and deliverables

5. Revenue Sharing Structure: Detailed mechanism for sharing revenues, including calculation methods and payment terms

6. Contributions and Investments: Each party's contributions, whether monetary, assets, or services

7. Management and Control: Decision-making processes, management structure, and voting rights

8. Development Timeline: Project milestones, completion dates, and development phases

9. Operating Procedures: Day-to-day operational procedures and responsibilities

10. Financial Provisions: Banking arrangements, accounting procedures, and financial reporting requirements

11. Regulatory Compliance: Compliance with Nigerian laws, permits, and regulatory requirements

12. Representations and Warranties: Standard and specific warranties from each party

13. Term and Termination: Duration of agreement and termination provisions

14. Dispute Resolution: Dispute resolution procedures including arbitration under Nigerian law

15. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law

Optional Sections

1. Local Content Requirements: Required if project falls under Nigerian Oil and Gas Industry Content Development Act

2. Foreign Investment Provisions: Required if any party is a foreign entity

3. Environmental Compliance: Required if project has significant environmental impact

4. Technology Transfer: Required if agreement involves significant technical knowledge transfer

5. Force Majeure: Optional but recommended given Nigerian business environment

6. Intellectual Property Rights: Required if development involves creation or use of intellectual property

7. Employment and Labor: Required if project involves significant local employment

8. Security Arrangements: Required if project involves significant assets or is in high-risk areas

Suggested Schedules

1. Development Plan: Detailed project development plan including timelines and milestones

2. Revenue Sharing Calculations: Detailed formulas and examples of revenue sharing calculations

3. Property Details: Details of the development property including titles and permits

4. Initial Contributions: Detailed list of each party's initial contributions

5. Management Structure: Organizational chart and management procedures

6. Required Permits and Licenses: List of required regulatory approvals and status

7. Form of Reports: Templates for required financial and operational reports

8. Insurance Requirements: Required insurance coverage details

9. Bank Account Details: Designated account information for revenue sharing

10. Key Personnel: List of key personnel and their roles

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















































Clauses








































Relevant Industries

Real Estate Development

Infrastructure Development

Oil and Gas

Mining and Natural Resources

Commercial Property

Residential Development

Industrial Development

Agricultural Development

Technology Parks

Mixed-use Development

Relevant Teams

Legal

Finance

Business Development

Operations

Project Management

Risk and Compliance

Commercial

Property

Investment

Construction

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Development Director

Project Manager

Legal Counsel

Commercial Director

Joint Venture Manager

Investment Manager

Operations Director

Risk Manager

Business Development Manager

Property Director

Construction Manager

Finance Manager

Compliance Officer

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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