A Board Resolution For Credit Facility is a crucial corporate governance document required when a company in South Africa seeks to obtain credit facilities from a financial institution. This document is mandated by the Companies Act 71 of 2008 and must comply with both corporate governance requirements and banking regulations. It is typically used when a company needs to secure new financing, renew existing facilities, or modify current credit arrangements. The resolution must demonstrate that the board has properly considered the facility terms, confirms the company's authority to enter into the arrangement, and designates specific individuals to execute the necessary documentation. It serves as evidence to third parties, particularly banks, that the company has followed proper internal procedures and has the necessary authority to enter into the credit facility.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Meeting Details: Date, time, place of meeting, and confirmation of quorum
2. Attendance: List of directors present and absent, and any other attendees
3. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met
4. Background: Purpose of the credit facility and business rationale
5. Facility Details: Specific details of the credit facility including amount, term, and key conditions
6. Board Considerations: Key factors considered by the board including financial impact and risk assessment
7. Resolutions: Specific decisions made by the board regarding the facility
8. Authorization: Named individuals authorized to execute documents and take actions
9. Certification: Certification by company secretary or chairman of the validity of the resolution
1. Prior Resolutions: Reference to any previous relevant board resolutions - include if this resolution amends or replaces previous decisions
2. Security Details: If specific security or collateral is being provided, include details of the security arrangements
3. Financial Covenants: If the facility includes specific financial covenants, detail these requirements
4. Conditions Precedent: If there are specific conditions that must be met before the facility can be drawn, include these
5. Related Party Disclosures: Include if any directors have conflicts of interest to declare
1. Schedule A - Facility Terms: Detailed terms and conditions of the credit facility as provided by the lender
2. Schedule B - Security Details: Details of any security or collateral being provided
3. Appendix 1 - Authorized Signatories: List of authorized signatories with specimen signatures
4. Appendix 2 - Supporting Documents: List of supporting documents including facility letter from bank, term sheet, or security documents
Relevant legal definitions
Board
Company
Companies Act
Credit Facility
Facility Agreement
Facility Amount
Lender
Security
Authorized Signatories
Finance Documents
Facility Letter
Material Adverse Effect
Business Day
Group
Security Documents
Designated Account
Financial Year
Governing Law
Interest Rate
Term
Resolution
Quorum
Meeting
Directors
Company Secretary
MOI
Related Party
Subsidiary
Holding Company
Company
Companies Act
Credit Facility
Facility Agreement
Facility Amount
Lender
Security
Authorized Signatories
Finance Documents
Facility Letter
Material Adverse Effect
Business Day
Group
Security Documents
Designated Account
Financial Year
Governing Law
Interest Rate
Term
Resolution
Quorum
Meeting
Directors
Company Secretary
MOI
Related Party
Subsidiary
Holding Company
Clauses
Meeting Constitution
Notice and Quorum
Authority and Capacity
Corporate Powers
Facility Approval
Security Arrangements
Document Execution
Authorized Signatories
Financial Terms
Conditions Precedent
Board Confirmation
Director Interests
Legal Compliance
Banking Arrangements
Resolution Implementation
Certification
Notice and Quorum
Authority and Capacity
Corporate Powers
Facility Approval
Security Arrangements
Document Execution
Authorized Signatories
Financial Terms
Conditions Precedent
Board Confirmation
Director Interests
Legal Compliance
Banking Arrangements
Resolution Implementation
Certification
Relevant Industries
Banking and Financial Services
Manufacturing
Retail
Mining and Resources
Technology
Real Estate
Agriculture
Healthcare
Construction
Transport and Logistics
Energy
Telecommunications
Professional Services
Relevant Teams
Legal
Finance
Treasury
Corporate Secretariat
Risk Management
Compliance
Corporate Finance
Executive Management
Board of Directors
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Finance Director
Treasury Manager
Financial Manager
Corporate Finance Manager
Board Director
Managing Director
Commercial Director
Risk Manager
Compliance Officer
Find the exact document you need
Resolution To Open Bank Account
A South African corporate resolution authorizing the opening and operation of a bank account, designating signatories and banking powers.
find out more
Authorised Signatory Resolution
A South African corporate resolution document that officially appoints and defines the powers of authorized signatories for a company.
find out more
Board Resolution For Increase In Salary Of Director
A South African board resolution document that formally approves and records a director's salary increase in compliance with local company law.
find out more
Board Resolution For Tender Participation
A South African corporate governance document authorizing company participation in tender processes and delegating related powers to specified individuals.
find out more
Board Resolution For Giving Loan To Other Company
A formal board resolution under South African law authorizing an inter-company loan, including loan terms and statutory compliance confirmations.
find out more
Board Resolution For Appointment Of Director In Private Company
A South African law-compliant board resolution document that formally records the appointment of a new director to a private company's board.
find out more
Board Resolution For Applying Loan From Bank
A South African corporate resolution authorizing the company to apply for and obtain a bank loan, including specific approvals and authorizations required under local law.
find out more
Board Resolution For Forfeiture Of Shares
A South African board resolution document authorizing the forfeiture of shares from a defaulting shareholder, in compliance with the Companies Act 71 of 2008.
find out more
Board Resolution For Dormant Company
A South African board resolution document confirming and recording a company's dormant status under the Companies Act.
find out more
Special Resolution For Taking Loan
A South African company document recording shareholders' special resolution to approve and authorize a significant loan transaction, required under the Companies Act 71 of 2008.
find out more
Resolution For Appointment Of New Trustee
A South African legal document recording the formal appointment of a new trustee to an existing trust, requiring Master of High Court approval.
find out more
Board Resolution For Subscription Of Shares
A South African board resolution document authorizing and approving the issuance of new shares to specified subscribers.
find out more
Special Resolution Of Directors
A formal South African corporate document recording major board decisions requiring special resolution status under the Companies Act 71 of 2008.
find out more
Board Resolution For Funding
A South African corporate document recording board approval for company funding arrangements, compliant with the Companies Act and corporate governance requirements.
find out more
Board Resolution For Change In Shareholding Pattern
A South African board resolution document that formally approves and records changes in company shareholding structure, compliant with Companies Act requirements.
find out more
Board Resolution For Appointment Of Legal Representative
A South African corporate document recording the board's formal resolution to appoint a legal representative with specified powers to act on behalf of the company.
find out more
Board Resolution Change Of Directors
A South African board resolution documenting changes in company directorship, compliant with Companies Act 71 of 2008 and CIPC requirements.
find out more
Board Resolution Change Of Address
A South African board resolution document that formally approves and records a change in a company's registered address, complying with Companies Act requirements.
find out more
Directors Resolution For Dividends
A South African corporate resolution documenting the board's decision to declare dividends, including payment details and statutory compliance confirmations.
find out more
Change Of Directors Resolution
A South African corporate resolution document that formally records and implements changes to a company's board of directors, in compliance with the Companies Act.
find out more
Board Resolution For Private Limited Company
A formal document under South African law recording decisions made by a private company's board of directors during an official board meeting.
find out more
Board Resolution For Joint Venture
A formal board resolution under South African law documenting the board's approval and authorization of a joint venture arrangement, including key terms and delegated authorities.
find out more
Board Resolution For Declaration Of Dividend
A South African corporate resolution documenting the board's decision to declare and pay dividends to shareholders, ensuring compliance with Companies Act requirements.
find out more
Board Resolution For Closure Of Business
A South African corporate resolution document recording the board's formal decision to close business operations, including implementation plans and compliance requirements.
find out more
Appointment Of Auditor Resolution
A South African corporate resolution document that formally appoints an external auditor in compliance with the Companies Act and relevant regulations.
find out more
Resolution To Appoint A Director
A formal corporate resolution under South African law documenting the appointment of a new director to a company's board of directors.
find out more
Board Resolution For Sale Of Company
A South African corporate resolution documenting board approval and authorization for the sale of a company, in compliance with the Companies Act 71 of 2008.
find out more
Board Resolution For Partnership
A South African corporate governance document recording board decisions and authorizations regarding partnership arrangements, compliant with local company law.
find out more
Board Resolution For Issue Of Shares
A South African corporate document recording the board's formal decision to issue new shares, complying with Companies Act 71 of 2008 requirements.
find out more
Board Resolution For Dissolution Of Committee
A South African corporate resolution documenting the board's decision to dissolve a committee, in compliance with the Companies Act and corporate governance requirements.
find out more
Board Resolution For Buy Back Of Shares
A South African board resolution authorizing a company's repurchase of its own shares, complying with Companies Act requirements and corporate governance standards.
find out more
Board Resolution For Approval Of Annual Budget
A South African board resolution document for formal approval of a company's annual budget, compliant with local corporate law and governance requirements.
find out more
Board Resolution For Appointment Of Compliance Officer
A South African board resolution document formalizing the appointment of a Compliance Officer and defining their role and responsibilities.
find out more
Board Resolution For Acquisition Of Shares
A South African corporate document recording the board's formal authorization for a share acquisition, compliant with the Companies Act 71 of 2008.
find out more
Board Resolution Approving Sale Of Shares
A South African corporate document recording board approval for the transfer of company shares, compliant with Companies Act 71 of 2008.
find out more
Board Resolution Appointing Corporate Secretary
A South African board resolution document formalizing the appointment of a Company Secretary in accordance with the Companies Act 71 of 2008.
find out more
Allotment Of Shares Board Resolution
A formal board resolution under South African law documenting the approval and terms of new share issuance to specified recipients.
find out more
Unanimous Resolution Of The Board
A South African board resolution document recording unanimous decisions made by all company directors under the Companies Act 71 of 2008.
find out more
Resolution To Open Bank Account For Association
A South African legal document authorizing the opening and operation of a bank account for an association, specifying account parameters and authorized signatories.
find out more
Resolution Appointing New Board Members
A South African corporate resolution document recording the formal appointment of new directors to a company's board, in compliance with the Companies Act 71 of 2008.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)