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Sell Buy Back Agreement
"I need a Sell Buy Back Agreement under Nigerian law for a transaction between First Bank of Nigeria and Zenith Bank PLC, involving government securities with an initial purchase date of March 15, 2025, and a repurchase date of September 15, 2025, with margin maintenance provisions."
1. Parties: Identification of seller and buyer with full legal names and addresses
2. Background: Context of the transaction and relationship between parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Terms of initial sale including price, delivery, and transfer of title
5. Repurchase Obligations: Terms of the buyback including repurchase price and timing
6. Payment Terms: Details of payment mechanisms, currency, and payment instructions
7. Delivery and Settlement: Procedures for delivery of securities/assets and settlement process
8. Representations and Warranties: Standard representations about capacity, authority, and asset ownership
9. Events of Default: Circumstances constituting default and consequences
10. Termination: Grounds for termination and processes
11. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction details
12. Notices: Process and addresses for formal communications
13. General Provisions: Standard boilerplate clauses including amendments, waivers, and severability
1. Income Payments and Corporate Actions: Required if the securities generate income during the buyback period
2. Substitution: Include if parties want the ability to substitute securities
3. Margin Maintenance: Include for transactions requiring ongoing margin calculations
4. Tax Provisions: Detailed section needed if cross-border elements or specific tax arrangements apply
5. Foreign Exchange Provisions: Required if transaction involves multiple currencies
6. Broker/Agent Provisions: Include if transaction involves intermediaries
7. Force Majeure: Optional expanded clause for market disruption events
8. Electronic Trading and Settlement: Include if using electronic trading platforms
1. Schedule 1 - Asset Description: Detailed description of securities or assets subject to the agreement
2. Schedule 2 - Pricing and Valuation: Methodology for calculating purchase and repurchase prices
3. Schedule 3 - Form of Transaction Notice: Standard form for confirming individual transactions
4. Schedule 4 - Settlement Instructions: Detailed payment and settlement procedures
5. Schedule 5 - Required Documents: List of documents required for completion of transaction
6. Appendix A - Confirmation Form: Standard form for transaction confirmations
7. Appendix B - Power of Attorney: If required for execution of transfers
8. Appendix C - Eligible Securities: List of acceptable securities for substitution if applicable
Authors
Banking
Financial Services
Investment Management
Securities Trading
Asset Management
Corporate Finance
Insurance
Pension Funds
Capital Markets
Treasury Services
Legal
Treasury
Trading
Risk Management
Compliance
Operations
Finance
Investment
Securities Operations
Portfolio Management
Transaction Management
Documentation
Credit Risk
Market Risk
Treasury Manager
Investment Officer
Securities Trader
Legal Counsel
Risk Manager
Compliance Officer
Portfolio Manager
Financial Controller
Trading Operations Manager
Securities Operations Officer
Chief Investment Officer
Head of Trading
Legal Director
Chief Financial Officer
Investment Analyst
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