4. Events of Default
The occurrence of any of the following events shall cause all
outstanding amounts under this facility to become immediately
due and payable:
The Obligor fails to make a repayment or payment of
principal, interest or other amount in respect of the loan
on the date it was due to be paid; or
The Obligor breaches any of the terms and conditions of the
Loan including any representation or confirmation given by
the Obligor in this loan agreement
Where a bankruptcy petition is filed against the Obligor.
Where the Obligor is unable to pay any other party within
the meaning of Section 1 of the Bankruptcy Act (Cap 30) Laws
of the Federation of Nigeria.
Where a situation arises which in the opinion of Blocka Cash
makes it inappropriate for Blocka Cash to continue to extend
the facility to the Obligor.
Where the Obligor defaults in the performance or observance
of any other term, condition or covenant herein and such
breach or default shall continue unremedied after seven
days’ notice shall have been given to the Obligor.
9. Governing Law
This loan agreement is governed by Nigerian law and the
courts of the Federal Republic of Nigeria have jurisdiction
in any matter arising from it.
**This offer is subject to a satisfactory credit report and
further verification checks.**
As required by law, Blocka Cash is mandated to disclose the
status of defaulting loans to relevant local or international
Credit Bureaus, Credit Monitoring Agencies and Regulatory