Afrihood

Afribond (Elite Class) Sales Contract


AFRIBOND PURCHASE AGREEMENT

 

BETWEEN

 

 

AFRIHOOD DEVELOPMENT COMPANY LIMITED

REGISTRATION NUMBER: 1814937

(Hereinafter referred to as “The Issuer”)

 

And

 

 

{{billing_last_name}} {{billing_first_name}}

(Hereinafter referred to as “The Purchaser”)

 

 

RECORDAL

This Bond ({{product_20195_name}}) Purchase Agreement (hereinafter referred to as Afribond) is made and entered into on the {{order_date}} this Agreement is executed electronically by and between the parties.

Afribond is a one-off bond offering used by the issuer to raise funds from the purchaser for capital-intensive projects. Afribond is available for sale over a short window period and closes when the target amount is reached. The Issuer agrees to sell, and the Purchaser agrees to purchase Afribond as described in the Schedule of Particulars, subject to the terms and conditions of this Agreement.

 

SCHEDULE OF PARTICULARS

PARTIES

 

ISSUER
Afrihood Development Company Limited
7th Floor, Mulliner Towers,
38, Alfred Rewane Road,
Ikoyi, Lagos State, Nigeria
Telephone: +2347062888927
Email: [email protected]

{{order_date}}

PURCHASER
{{billing_last_name}} {{billing_first_name}}
Telephone: {{billing_phone}}
Address: {{billing_address_1}} {{billing_address_2}}
City: {{billing_city}}
State: {{billing_state}}
Email: {{billing_email}}

 

THE SUBJECT MATTER

  • Unit Price: N1,000,000,000

  • Number of Units: {{product_20195_quantity}}

  • Total Bond Purchase Price: {{order_total}}

  • Returns: 25%

 

BANK DETAILS

Payments should be made by draft or transfer to:

  • Bank: Stanbic IBTC Bank PLC

  • Account Name: Afrihood Development Company

  • Account Number: 0044442234

  • Reference: AfriBond

 

STANDARD TERMS AND CONDITIONS

1. INTERPRETATION

  • Agreement or bond purchase agreement means the Schedule of Particulars and the Standard Terms and Conditions executed by the Issuer and the Purchaser.
  • Total Bond Purchase Price means the amount the bond purchaser will pay.
  • Maturity date means the date on which the bond issuer repays the bond principal and interest.
  • Returns mean the rate at which the bond issuer will pay interest to the bond purchaser.
  • Closing date refers to the date when all terms and conditions are met, and the transaction is completed.
  • Business Day means any day other than a Saturday, Sunday, or a public holiday in Lagos State, Nigeria.

     

2. PURCHASE AND SALE OF AFRIBOND; USE OF PROCEEDS

  • Agreement to Issue, Sell, and Purchase Afribond Units: The Issuer will sell, and the Purchaser will purchase, Afribond units for the Total Bond Purchase Price as specified.
  • Closing and Delivery: The purchase and sale (The Closing) shall occur online or at The Issuer’s head office within 3 business days after all conditions are met. The signed copy of this Agreement shall serve as the sole evidence of the bond ownership and entitlement to repayment.
  • Use of Proceeds: Proceeds shall be used for general working capital and business purposes.

 

3. REPRESENTATIONS AND WARRANTIES OF ISSUER

  • Afrihood is duly registered and in good standing under Nigerian law.
  • The Issuer has the authority to execute and deliver this Agreement.
  • Board Approval: The Board has approved the transaction.
  • No Defaults: The Issuer is not in violation of any agreements or laws affecting its business.

 

4. REPRESENTATION AND WARRANTIES OF THE PURCHASER

  • The Purchaser is knowledgeable and experienced in bond purchases.
  • The Purchaser will not dispose of Afribond Units without the Issuer's consent.
  • The execution of this Agreement will not result in any violation or conflict with any law or agreement to which the Purchaser is a party.

5. COVENANTS

  • Both parties will use their best efforts to satisfy all conditions promptly.
  • The Issuer will maintain its assets and business operations in good condition until the Closing Date.

6. MATURITY

  • Afribond shall mature 12 months from the date of purchase, at which time the Issuer will repay the principal and accrued interest.

7. RETURNS

  • The returns for Afribond purchase shall be 25%.

8. INDEMNIFICATION

  • The Issuer will indemnify the Purchaser against any losses resulting from a breach by the Issuer.

9. ASSIGNMENT

  • This Agreement cannot be transferred without the prior written consent of the other party.

10. NOTICES

  • All communications shall be sent to the addresses provided above.

11. MODIFICATIONS

  • This Agreement may only be modified in writing, signed by both parties.

12. HEADINGS

  • Headings are for convenience and do not form part of this Agreement.

13. SEVERABILITY

  • If any provision is found to be unenforceable, the remaining provisions shall continue in effect.

14. GOVERNING LAW

  • This Agreement shall be governed by Nigerian law.

15. COUNTERPARTS

  • This Agreement may be executed in multiple counterparts, each constituting an original.

16. ENTIRE AGREEMENT

  • This Agreement constitutes the entire understanding between the parties.

17. NO THIRD-PARTY BENEFICIARIES

  • This Agreement is for the benefit of the parties and their successors, not third parties.

 

IN WITNESS WHEREOF, the parties have executed this Agreement under seal.

The Common Seal of Afrihood Development Company Limited is affixed in the presence of:

 

Name: Olufemi Shield
(Managing Director)

 

 

Name: Adekoya Israel
(Client Account Manager)

This Agreement has been read and understood. I acknowledge this date I have signed under seal. Representations herein are true to my knowledge.

                                                                                                              

THIS AGREEMENT HAS BEEN READ AND FULLY UNDERSTOOD BY ME AND I ACKNOWLEDGE THIS DATE I HAVE SIGNED UNDER SEAL. Any representations contained herein are true to the best of my knowledge information and belief.

 

SIGNED, SEALED AND DELIVERED, I have hereunto set my hand and seal:

{{billing_last_name}} {{billing_first_name}}

June 19, 2024

 

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Signature Certificate
Document name: Afribond (Elite Class) Sales Contract
lock iconUnique Document ID: dd0f798b3488800f9598c060e24e9fb81a8d1a6d
Timestamp Audit
February 8, 2023 09:11 WATAfribond (Elite Class) Sales Contract Uploaded by Afrihood Development Company Limited - [email protected] IP 197.211.58.117
February 8, 2023 11:54 WATAdekoya Israel - [email protected] added by Olufemi Shield - [email protected] as a CC'd Recipient Ip: 197.211.58.21
February 8, 2023 11:54 WATOlufemi Shield - [email protected] added by Olufemi Shield - [email protected] as a CC'd Recipient Ip: 197.211.58.21
May 1, 2024 14:03 WATAdekoya Israel - [email protected] added by - as a CC'd Recipient Ip: 197.211.59.1
May 1, 2024 14:03 WATOlufemi Shield - [email protected] added by - as a CC'd Recipient Ip: 197.211.59.1
May 3, 2024 11:28 WATAdekoya Israel - [email protected] added by - as a CC'd Recipient Ip: 197.253.28.22
May 3, 2024 11:28 WATOlufemi Shield - [email protected] added by - as a CC'd Recipient Ip: 197.253.28.22
May 27, 2024 19:19 WATAdekoya Israel - [email protected] added by - as a CC'd Recipient Ip: 197.211.58.117
May 27, 2024 19:19 WATOlufemi Shield - [email protected] added by - as a CC'd Recipient Ip: 197.211.58.117