A Company Resolution To Borrow Money From Bank is essential when a corporation seeks to obtain financing from a banking institution in the United States. This document serves as formal evidence that the company's board has approved the borrowing and has authorized specific individuals to execute loan documents. It typically includes details about the loan amount, purpose, authorized signatories, and any security being offered. The resolution must comply with both federal banking regulations and state corporate laws, and is usually required by banks before they will proceed with any lending arrangement.
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1. Title and Date: Formal identification of the resolution and date of adoption
2. Company Information: Legal name, registration details, and address of the company
3. Recitals: Background information explaining the purpose of borrowing and reference to relevant board meeting
4. Resolution Statement: Formal declaration of the board's decision to borrow including amount and general purpose
5. Authorization Details: Specific terms of borrowing and designation of authorized persons to execute loan documents
6. Certification: Statement certifying the resolution's validity and compliance with company bylaws
1. Collateral Description: Detailed description of any assets being pledged as security for the loan
2. Special Conditions: Any specific conditions, covenants, or requirements imposed by the bank or agreed by the company
1. Schedule A - Authorized Signatories: List of persons authorized to execute loan documents with their titles and signing powers
2. Schedule B - Borrowing Terms: Detailed terms of the proposed borrowing including amount, interest rate, and repayment schedule
3. Schedule C - Corporate Documents: Copies of relevant corporate documents including bylaws, certificates of incorporation, and existing board resolutions
Relevant legal definitions
Company
Board of Directors
Resolution
Authorized Signatories
Borrowing
Loan Agreement
Loan Documents
Lending Institution
Security
Collateral
Authorized Amount
Interest Rate
Term
Principal Amount
Corporate Officer
Corporate Seal
Loan Facility
Secretary's Certificate
Banking Relationship
Guarantees
Security Documents
Default
Material Adverse Change
Business Day
Effective Date
Board of Directors
Resolution
Authorized Signatories
Borrowing
Loan Agreement
Loan Documents
Lending Institution
Security
Collateral
Authorized Amount
Interest Rate
Term
Principal Amount
Corporate Officer
Corporate Seal
Loan Facility
Secretary's Certificate
Banking Relationship
Guarantees
Security Documents
Default
Material Adverse Change
Business Day
Effective Date
Clauses
Authority and Power
Authorized Amount
Purpose of Borrowing
Designation of Signatories
Security and Collateral
Execution Authority
Banking Relationship
Compliance
Board Approval
Officer Authorization
Document Execution
Certification
Attestation
Term and Duration
Facility Type
Corporate Seal
Recording
Notice Requirements
Amendment Authority
Governing Law
Further Assurance
Ratification
Authorized Amount
Purpose of Borrowing
Designation of Signatories
Security and Collateral
Execution Authority
Banking Relationship
Compliance
Board Approval
Officer Authorization
Document Execution
Certification
Attestation
Term and Duration
Facility Type
Corporate Seal
Recording
Notice Requirements
Amendment Authority
Governing Law
Further Assurance
Ratification
Relevant Industries
Relevant Teams
Relevant Roles
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