1. Parties: Identifies all parties to the agreement including the settlor/borrower, beneficiary/lender, and the trustee
2. Background: Sets out the context of the agreement, including reference to any underlying loan or facility agreement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Appointment of Trustee: Formally establishes the trust relationship and appointment of the trustee
5. Declaration of Trust: Establishes the trust over the collateral and defines the trust property
6. Collateral Requirements: Details the nature, value, and requirements of assets to be held as collateral
7. Trustee Powers and Duties: Specifies the trustee's authority, responsibilities, and limitations
8. Representations and Warranties: Contains statements of fact and assurances from the settlor regarding the collateral and their authority
9. Covenants: Sets out ongoing obligations of the settlor regarding the collateral and maintenance of the trust
10. Security Perfection Requirements: Details steps required to perfect the security interest in the collateral
11. Events of Default: Lists circumstances that constitute default and trigger enforcement rights
12. Enforcement Rights and Remedies: Describes the actions the trustee can take upon default
13. Fees and Expenses: Details the trustee's compensation and expense reimbursement
14. Indemnification: Covers the trustee's protection from liability and indemnification rights
15. Term and Termination: Specifies the duration of the trust and conditions for termination
16. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and sets jurisdiction for disputes
17. Notices: Provides procedures for formal communications between parties
18. Miscellaneous: Contains standard boilerplate provisions including amendments, assignments, and severability
