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1. Parties: Identification of the Maker (debtor), Payee (creditor), and Trustee
2. Background/Recitals: Context of the debt obligation and purpose of the trust arrangement
3. Definitions and Interpretation: Key terms used throughout the document, including financial and legal terminology
4. Promise to Pay: Core promissory note provisions including principal amount, interest rate, and payment terms
5. Security Creation: Establishment of the trust and declaration of assets held in trust
6. Trustee Powers and Duties: Detailed responsibilities and authority of the trustee
7. Events of Default: Circumstances constituting default and consequences
8. Enforcement Rights: Rights and remedies of the payee and trustee upon default
9. Representations and Warranties: Standard declarations about legal capacity and authority
10. Governing Law and Jurisdiction: Specification of Nigerian law and relevant jurisdiction
11. Execution: Signature blocks and attestation requirements
1. Security Interest Registration: Required when the trust involves assets requiring registration under Nigerian law
2. Insurance Requirements: Needed when secured assets must maintain specific insurance coverage
3. Assignment Provisions: Include when the note needs to be transferable
4. Acceleration Clause: Optional provision allowing full amount to become due upon specific triggers
5. Prepayment Terms: Include if early payment is allowed and any associated penalties
6. Trustee Compensation: Required if trustee is to receive specific compensation for services
7. Co-trustee Provisions: Include when multiple trustees are appointed
8. Security Release Mechanisms: Include when specific conditions for releasing security need to be detailed
1. Payment Schedule: Detailed breakdown of payment amounts, dates, and interest calculations
2. Property Description: Detailed description of assets held in trust, including legal descriptions and registrations
3. Security Documents: List and copies of additional security documents referenced in the main agreement
4. Trustee Fee Schedule: If applicable, detailed breakdown of trustee compensation and expense reimbursement
5. Form of Notice: Standard forms for various notices required under the agreement
6. Required Insurance: Specific insurance requirements for secured assets
Applicable Law
Assets
Business Day
Default Interest
Default Notice
Deed
Due Date
Effective Date
Enforcement Event
Event of Default
Governing Law
Interest Rate
Interest Payment Date
Maker
Material Adverse Effect
Maturity Date
Note
Outstanding Amount
Payee
Payment Date
Permitted Security Interest
Principal Amount
Relevant Jurisdiction
Repayment Schedule
Secured Assets
Secured Obligations
Security
Security Interest
Security Period
Stamp Duty
Trust
Trust Property
Trustee
Trustee Acts
Trust Period
Trust Powers
Trust Premises
Interest
Security Creation
Trust Declaration
Payment Terms
Default
Acceleration
Representations and Warranties
Trustee Powers
Trustee Duties
Security Enforcement
Assignment
Notices
Costs and Expenses
Indemnification
Amendments
Severability
Counterparts
Further Assurance
Stamp Duty
Registration
Waiver
Confidentiality
Force Majeure
Governing Law
Dispute Resolution
Entire Agreement
Banking and Financial Services
Real Estate
Construction
Manufacturing
Agriculture
Oil and Gas
General Commerce
Infrastructure Development
Telecommunications
Mining
Legal
Finance
Treasury
Risk Management
Compliance
Credit Administration
Corporate Secretariat
Asset Management
Property Administration
Security Administration
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Secretary
Trust Officer
Credit Manager
Risk Manager
Commercial Director
Treasury Manager
Compliance Officer
Security Trustee
Financial Controller
Banking Relationship Manager
Property Manager
Asset Manager
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