Board Resolution Approving Loan of Funds

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Board Resolution Approving Loan of Funds

Board Resolution Approving Loan of Funds

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION APPROVING LOAN OF FUNDS

DATE: {{date}}

Pursuant to the Articles of Incorporation and Bylaws of {{company_name}} (the “Company”), a duly convened meeting of the Board of Directors of the Company was held on {{meeting_date}} at {{meeting_time}}, at {{meeting_location}}.

ATTENDEES

The following Directors were present:

QUORUM

It was noted that a quorum was present and the meeting was duly constituted and competent to transact business.

APPROVAL OF LOAN

WHEREAS, the Board of Directors deems it to be in the best interest of the Company to provide a loan to {{borrower_name}} (the “Borrower”) for the amount of {{loan_amount}} ({{loan_amount_words}}) {{currency}} (the “Loan”), subject to the terms and conditions outlined herein.

WHEREAS, the purpose of this Loan is {{loan_purpose}}.

NOW, THEREFORE, BE IT RESOLVED, that the Company hereby approves the provision of a loan to {{borrower_name}} in the principal amount of {{loan_amount}} {{currency}}.

TERMS AND CONDITIONS OF THE LOAN

BE IT FURTHER RESOLVED, that the Loan shall be subject to the following key terms and conditions:

1. Interest Rate: The Loan shall bear interest at a rate of {{interest_rate}}% per annum.

2. Repayment Schedule: The Loan shall be repaid in {{number_of_installments}} installments, commencing on {{first_repayment_date}} and concluding on {{final_repayment_date}}, as per the attached repayment schedule (Exhibit A).

3. Security/Collateral: The Loan shall be {{secured_unsecured}}. If secured, the collateral provided shall be {{collateral_description}}.

4. Default Provisions: In the event of default, the Company shall have the right to enforce the terms of the Loan Agreement, including but not limited to, demanding immediate repayment of the outstanding balance and/or seizing collateral.

5. Other Covenants: {{other_covenants}}

AUTHORIZATION

BE IT FURTHER RESOLVED, that {{authorized_officer_name}}, in their capacity as {{authorized_officer_title}}, be and is hereby authorized, empowered, and directed to execute and deliver any and all documents, agreements, and instruments, including but not limited to, a Loan Agreement, Promissory Note, and Security Agreement, as may be necessary or desirable to effectuate the terms of this Resolution, and to take all such further action as they may deem necessary or appropriate to consummate the Loan.

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 on the date first above written, and that such resolution has not been modified, amended, or rescinded and is in full force and effect.

SIGNATURE BLOCK

___________________________

{{secretary_name}}

Company Secretary

{{company_name}}