Document background
The Loan Master Agreement serves as the foundational document for establishing and managing lending relationships in Nigeria, providing a comprehensive framework that complies with local banking regulations and financial laws. This agreement is typically used when parties anticipate an ongoing lending relationship that may involve multiple loan facilities over time. It incorporates all essential provisions required by Nigerian law and Central Bank regulations, including facility terms, security arrangements, covenants, and enforcement mechanisms. The document is designed to accommodate various types of lending facilities while maintaining consistency with Nigerian banking practices and regulatory requirements. The Master Agreement structure allows for efficient future lending through supplemental facility agreements that incorporate the master terms by reference.
