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Board Resolution For Working Capital Loan
"Need a Board Resolution For Working Capital Loan to secure a S$2 million facility from DBS Bank for our manufacturing business expansion, with two directors as authorized signatories and pledge of company equipment as security."
1. Title and Date: Formal identification of the resolution and meeting date
2. Attendance Details: List of present directors and confirmation of quorum
3. Preamble: Company details and meeting context
4. Purpose: Statement of the need for working capital loan
5. Resolution Details: Specific terms of the loan approval including amount, lender, and key terms
6. Authorization: Designation of authorized signatories
1. Security Details: Additional section required when specific collateral is being pledged for the loan
2. Related Party Declarations: Section for disclosure of any interested directors or potential conflicts of interest
3. Special Conditions: Section for documenting any specific conditions or covenants imposed by the lender
1. Loan Term Sheet: Summary of key loan terms and conditions
2. Bank Facility Letter: Original offer letter from the bank
3. Security Documents: Details of any collateral or security arrangements
4. Financial Statements: Recent financial statements supporting the loan application
Authors
Board of Directors
Meeting
Resolution
Working Capital Facility
Facility Agreement
Facility Amount
Lender
Security
Authorized Signatories
Banking Day
Facility Documents
Interest Rate
Loan Purpose
Repayment Terms
Financial Year
Quorum
Corporate Seal
Constitution
Governing Law
Directors' Interest
Default Events
Borrowing Powers
Available Facility
Drawdown Period
Meeting Details
Purpose of Loan
Loan Amount
Borrowing Authority
Bank Details
Security Arrangements
Authorized Signatories
Execution Authority
Document Authentication
Director Powers
Financial Terms
Conflict Declaration
Board Approval
Certification
Record Keeping
Notice Requirements
Constitutional Compliance
Corporate Powers
Legal Compliance
Regulatory Compliance
Banking Arrangements
Collateral Approval
Covenant Compliance
Recording of Resolution
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