The Revolving Credit Loan Agreement is a sophisticated financial instrument used in the Nigerian market when a borrower requires flexible access to funding over an extended period. It is particularly suitable for businesses with cyclical cash flows or varying capital needs, as it allows for multiple drawdowns and repayments within an overall facility limit. The document must comply with Nigerian banking regulations, including the Banks and Other Financial Institutions Act (BOFIA) 2020 and Central Bank of Nigeria guidelines. It contains detailed provisions on facility mechanics, conditions precedent, representations and warranties, covenants, and events of default. This type of agreement is commonly used for working capital financing, trade finance, and general corporate purposes, offering businesses the flexibility to manage their funding needs efficiently while providing lenders with necessary security and control mechanisms.
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: Identification of the lender and borrower with their full legal names and addresses
2. Background: Brief context of the revolving credit facility and its purpose
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. The Facility: Details of the revolving credit facility including amount, purpose, and availability period
5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available
6. Utilization: Process and requirements for drawing down the facility
7. Repayment and Prepayment: Terms for repayment, prepayment options, and consequences
8. Interest and Fees: Interest calculation, payment dates, default interest, and applicable fees
9. Representations and Warranties: Borrower's representations and warranties
10. Information Undertakings: Borrower's obligations to provide financial and other information
11. General Undertakings: Borrower's general operational and financial covenants
12. Events of Default: Circumstances constituting default and consequences
13. Changes to Parties: Rules for assignment and transfer of rights and obligations
14. Administration: Administrative provisions including notices and calculations
15. Governing Law and Enforcement: Choice of Nigerian law and enforcement provisions
1. Security: Required if the facility is secured - details of security arrangements
2. Guarantee: Required if there are guarantors for the facility
3. Insurance: Required if specific insurance requirements are imposed on the borrower
4. Increased Costs and Tax Gross-up: Optional provisions for managing changes in costs and tax implications
5. Set-off Rights: Optional provision giving explicit set-off rights to the lender
6. Multi-currency Provisions: Required if the facility can be drawn in multiple currencies
7. Market Disruption: Optional provisions dealing with market disruption events
8. Anti-corruption and Sanctions: Required for international lenders or where compliance policies require
1. Conditions Precedent: Detailed list of required documents and conditions
2. Form of Utilization Request: Standard form for requesting drawdown of the facility
3. Form of Compliance Certificate: Template for periodic compliance certification
4. Repayment Schedule: If applicable, schedule of repayment dates and amounts
5. Permitted Security: List of security interests permitted under the agreement
6. Forms of Transfer Certificates: Standard forms for transferring rights and obligations
7. Existing Security: Details of any existing security interests if relevant
8. Contact Details: Administrative and notice details for all parties
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Manufacturing
Real Estate
Oil & Gas
Telecommunications
Retail
Construction
Agriculture
Healthcare
Technology
Infrastructure
Mining
Transportation
Energy
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Risk Management
Operations
Transaction Banking
Documentation
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Legal Counsel
Corporate Lawyer
Relationship Manager
Credit Risk Manager
Compliance Officer
Financial Controller
Company Secretary
Banking Officer
Risk Officer
Transaction Manager
Finance Manager
Corporate Banking Manager
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.
find out more
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.
find out more
Employees Loan Agreement
A Nigerian law-governed agreement establishing terms for workplace loans between employers and employees, including repayment through salary deductions.
find out more
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.
find out more
Litigation Funding Agreement
A Nigerian law-governed agreement setting out terms for third-party funding of litigation, including funding commitments, returns, and risk allocation.
find out more
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.
find out more
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.
find out more
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.
find out more
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.
find out more
International Loan Agreement
Nigerian law-governed agreement for international lending transactions, incorporating local regulatory requirements and international banking standards.
find out more
Film Financing Agreement
A Nigerian law-governed agreement setting out terms for film production financing, including investment structure, rights, and profit-sharing arrangements.
find out more
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.
find out more
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.
find out more
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.
find out more
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.
find out more
Official Loan Agreement
A Nigerian law-governed loan agreement establishing formal lending terms between parties, compliant with local banking regulations and financial laws.
find out more
Margin Loan Agreement
A Nigerian law-governed agreement establishing terms for margin lending facilities, including loan terms, collateral requirements, and regulatory compliance measures.
find out more
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.
find out more
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.
find out more
Financial Support Agreement
A Nigerian law-governed agreement establishing terms for financial support between parties, including funding terms, repayment conditions, and regulatory compliance requirements.
find out more
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.
find out more
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.
find out more
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.
find out more
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.
find out more
Car Installment Agreement
A Nigerian law-governed agreement for vehicle purchase through installment payments, detailing payment terms, ownership rights, and party obligations.
find out more
Car Finance Contract
A Nigerian law-governed agreement establishing terms and conditions for vehicle financing, including payment obligations, security interests, and regulatory compliance requirements.
find out more
Bridge Financing Agreement
A Nigerian law-governed agreement providing temporary financing to bridge gaps between immediate capital needs and long-term funding solutions.
find out more
Bridge Facility Agreement
A Nigerian law-governed temporary financing arrangement providing short-term funding while permanent financing is arranged.
find out more
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.
find out more
Motorcycle Hire Purchase Agreement
A Nigerian law-governed agreement for motorcycle purchase through hire purchase arrangements, detailing payment terms, ownership rights, and obligations.
find out more
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.
find out more
Standard Hire Purchase Agreement
A Nigerian law-governed agreement enabling purchase of goods through installments, with ownership transferring upon final payment.
find out more
Master Asset Finance Agreement
A Nigerian law-governed master agreement establishing terms for ongoing asset financing arrangements between a financial institution and borrower.
find out more
Development Credit Agreement
A Nigerian law-governed agreement establishing terms for development financing, including credit facility arrangements, project implementation requirements, and compliance obligations.
find out more
Consortium Loan Agreement
A Nigerian law-governed agreement establishing terms for a multi-lender loan facility, including syndication and security arrangements.
find out more
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.
find out more
Small Credit Agreement
Nigerian-law governed Small Credit Agreement template for structured small-scale lending transactions, compliant with local banking and consumer protection regulations.
find out more
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.
find out more
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.
find out more
Monthly Payment Plan Agreement
A Nigerian law-governed agreement establishing structured monthly payment terms between parties, including payment schedules, conditions, and regulatory compliance requirements.
find out more
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)