Board Resolution to Lease Motor Vehicle

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO LEASE MOTOR VEHICLE

Date: {{date}}

At a duly convened meeting of the Board of Directors of {{company_name}}, held at {{meeting_location}} on {{meeting_date}}, the following resolution was unanimously adopted:

RESOLUTION

WHEREAS, the Board of Directors deems it necessary and beneficial for the operations of {{company_name}} (hereinafter referred to as 'the Company') to lease a motor vehicle for business purposes;

WHEREAS, a proposal has been presented to the Board for the leasing of a {{vehicle_make_model}} (hereinafter referred to as 'the Vehicle') from {{leasing_company_name}} (hereinafter referred to as 'the Lessor');

BE IT RESOLVED, that the Company enters into a lease agreement for the Vehicle with the Lessor, subject to the terms and conditions outlined in the proposed lease agreement attached hereto as Annexure A.

AUTHORISATION

BE IT FURTHER RESOLVED, that {{authorised_officer_name}} (ID/Passport No: {{authorised_officer_id_passport_no}}), holding the position of {{authorised_officer_title}}, is hereby authorized and empowered, for and on behalf of the Company, to negotiate, approve, execute, and deliver all necessary documents, including but not limited to the lease agreement, any ancillary agreements, and any related forms or undertakings, required to effectuate the leasing of the Vehicle.

LEASE TERMS

The key terms of the lease agreement shall include, but not be limited to, the following:

a) Lease Commencement Date: {{lease_start_date}}

b) Lease Duration: {{lease_duration_months}} months

c) Monthly Lease Payment: {{currency}} {{monthly_lease_payment}} (excluding VAT)

d) Excess Mileage Charge: {{currency}} {{excess_mileage_charge}} per km above {{annual_mileage_limit}} km per annum

e) Option to Purchase: {{option_to_purchase_details}} (e.g., 'No option to purchase at end of term' or 'Yes, at a pre-determined residual value of {{currency}} {{residual_value}}')

BUDGET ALLOCATION

BE IT FURTHER RESOLVED, that the necessary funds for the monthly lease payments, insurance, maintenance, and any other associated costs related to the Vehicle shall be allocated from the Company's operational budget.

CERTIFICATION

I, the undersigned, {{secretary_name}}, being the duly appointed Company Secretary of {{company_name}}, do hereby certify 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 {{meeting_date}}, and that such resolution is in full force and effect and has not been revoked or amended.

Signature Block

_______________________________________

{{secretary_name}}

Company Secretary

{{company_name}}

Date: {{date}}