The Fee Letter Syndicated Loan is an essential document used in Nigerian banking and finance transactions to formalize the fee arrangements in syndicated lending. It is typically executed alongside the main Facility Agreement and outlines all fees payable by the borrower to the various finance parties, including arrangement fees, commitment fees, agency fees, and any other transaction-specific charges. The document must comply with Nigerian banking regulations, particularly the Banks and Other Financial Institutions Act (BOFIA) 2020 and Central Bank of Nigeria guidelines on bank charges. It's crucial for large-scale financing where multiple lenders are involved and requires careful consideration of both local banking regulations and international banking practices commonly used in the Nigerian market.
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1. Date and Address Block: Formal letter heading including date and recipient's address details
2. Reference Line: Reference to the main Facility Agreement and any other relevant documentation
3. Salutation: Formal opening of the letter
4. Introduction: Reference to the Facility Agreement and context of the fee arrangements
5. Fee Definitions: Clear definitions of all fee types referenced in the letter
6. Arrangement Fee: Details of the arrangement fee, including amount/percentage, payment timing, and calculation method
7. Commitment Fee: Specification of commitment fee rate, calculation basis, and payment arrangements
8. Agency Fee: Annual agency fee details, payment timing, and any adjustment mechanisms
9. Payment Terms: General payment provisions, including payment method, currency, and account details
10. Confidentiality: Provisions regarding the confidential nature of the fee arrangements
11. Governing Law: Confirmation of Nigerian law as governing law
12. Counterparts: Provisions for execution in counterparts if applicable
13. Signature Blocks: Execution sections for all relevant parties
1. Security Agent Fee: Include when there is a security agent appointed for the facility
2. Market Flex Provisions: Include for transactions where the arrangers require flexibility to adjust fees during syndication
3. Coordination Fee: Include when there is a separate coordinator role
4. Participation Fee: Include when offering fees to participating lenders in the syndicate
5. Technical Bank Fee: Include when a technical bank is appointed
6. Documentary Fee: Include when separate fees are charged for document preparation
7. Prepayment Fee: Include when there are specific fees related to prepayment of the facility
8. Currency Provisions: Include when fees are payable in multiple currencies or require specific exchange rate mechanisms
1. Fee Calculation Schedule: Detailed breakdown of complex fee calculations or varying fee structures
2. Payment Details Schedule: Bank account and payment routing details for various fee recipients
3. Fee Payment Timeline: Schedule of payment dates and amounts for recurring fees
4. Agent's Fee Distribution Matrix: Breakdown of fee sharing arrangements among syndicate members if applicable
Relevant legal definitions
Arrangement Fee
Agency Fee
Commitment Fee
Facility Agreement
Fee Payment Date
Finance Parties
Obligors
Security Agent Fee
Syndication Fee
Participation Fee
Coordination Fee
Market Flex
Technical Bank Fee
Upfront Fee
Documentary Fee
Facility Office
Fee Rate
Payment Business Day
Signing Date
Effective Date
Relevant Lenders
Agent's Account
Defaulting Lender
Break Costs
Quote Day
Reference Banks
Screen Rate
Nigerian Business Day
CBN
Naira
Exchange Rate
Majority Lenders
Computation Date
Fee Letter
Secured Parties
Agency Fee
Commitment Fee
Facility Agreement
Fee Payment Date
Finance Parties
Obligors
Security Agent Fee
Syndication Fee
Participation Fee
Coordination Fee
Market Flex
Technical Bank Fee
Upfront Fee
Documentary Fee
Facility Office
Fee Rate
Payment Business Day
Signing Date
Effective Date
Relevant Lenders
Agent's Account
Defaulting Lender
Break Costs
Quote Day
Reference Banks
Screen Rate
Nigerian Business Day
CBN
Naira
Exchange Rate
Majority Lenders
Computation Date
Fee Letter
Secured Parties
Clauses
Relevant Industries
Banking & Financial Services
Oil & Gas
Infrastructure & Construction
Manufacturing
Telecommunications
Power & Energy
Real Estate
Mining
Agriculture
Transportation & Logistics
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Banking Operations
Syndications
Documentation
Transaction Management
Relationship Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Loan Officer
Syndications Manager
Legal Counsel
Relationship Manager
Credit Risk Manager
Compliance Officer
Transaction Manager
Agency Manager
Banking Operations Manager
Documentation Manager
Syndication Analyst
Finance Manager
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