Model Format of Borrowing Resolution for a Corporation

Model Format of Borrowing Resolution for a Corporation

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Borrowing Resolution for a Corporation
Borrowing Resolution for a Corporation

A special meeting of the Board of Directors of ______ , Inc., was held on ________, at , , pursuant to, and, upon a motion made regularly and in proper order, and seconded, the board of directors of _______, agreed:

That the corporation shall borrow the original principal sum of Rs.
(_______&/100 rupees) from ____________ bank, under
such terms and conditions, including the pledging of collateral for the loan, and the opening or maintaining of deposit accounts, and such other terms as may be needful or required.

That the promissory notes, and any other certifications of indebtedness as well as any other warranties, bonds, indentures, and other agreements which may be required by ________, may be signed on behalf of the corporation by its President,
____________________….

Note: This is just the part of the agreement. To get it drafted completely by legal experts, kindly contact the expert team of Aapka Consultant by clicking here

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