Board Resolution Approving Acquisition of Business Assets

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Board Resolution Approving Acquisition of Business Assets

Board Resolution Approving Acquisition of Business Assets

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION APPROVING ACQUISITION OF BUSINESS ASSETS

WHEREAS, it is deemed to be in the best interest of {{company_name}} (the “Company”) to acquire certain business assets (the “Assets”) from {{seller_company_name}} (the “Seller”), which Assets are more fully described in the Asset Purchase Agreement attached hereto as Schedule A;

WHEREAS, the Board of Directors has reviewed and considered the terms and conditions of the proposed acquisition, including the valuation of the Assets and the financial implications thereof;

RESOLUTION TO APPROVE ACQUISITION

RESOLVED, that the acquisition of the Assets from {{seller_company_name}}, as contemplated by the Asset Purchase Agreement substantially in the form reviewed by the Board and presented at this meeting, be and it hereby is approved, ratified, and confirmed in all respects.

FURTHER RESOLVED, that the {{total_purchase_price}} be paid to {{seller_company_name}} for the acquisition of the Assets, payable in accordance with the terms of the Asset Purchase Agreement.

AUTHORIZATION OF OFFICERS

RESOLVED, that the {{title_of_officer_1}} ({{officer_name_1}}) and {{title_of_officer_2}} ({{officer_name_2}}) of the Company be and they hereby are authorized, empowered, and directed to execute and deliver, for and on behalf of the Company, the Asset Purchase Agreement and all other agreements, instruments, certificates, and documents as may be necessary or advisable to consummate the acquisition of the Assets, and to perform all such acts and things as may be necessary or advisable to carry out the intent of these resolutions.

FURTHER RESOLVED, that any actions taken by such officers prior to the date of adoption of this resolution that are within the authority conferred by this resolution are hereby ratified, confirmed, and approved as actions of the Company.

EFFECTIVE DATE

This Resolution shall be effective as of the date of its adoption by the Board of Directors.

CERTIFICATION

The undersigned, Secretary of {{company_name}}, hereby certifies that the foregoing is a true and correct copy of a resolution duly adopted by the Board of Directors of the Company at a meeting held on {{date_of_meeting}}, at which a quorum was present and acting throughout, and that such resolution is in full force and effect and has not been amended, modified, or rescinded.

Dated this {{day}} day of {{month}}, {{year}}.

_____________________________

{{secretary_name}}

Company Secretary

{{company_name}}