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Board Resolution For Borrowing
"Need a Board Resolution For Borrowing to authorize our Singapore tech startup to secure a SGD 2 million working capital facility from DBS Bank, to be presented at our board meeting on March 15, 2025, with our CEO and CFO as authorized signatories."
1. Title and Date: Identification of the company and date of resolution
2. Attendance: List of directors present and confirmation of quorum
3. Chairperson: Identification of meeting chair
4. Purpose: Statement of borrowing purpose and amount
5. Resolution Details: Specific terms of borrowing and authorization
6. Authorization: Powers granted to specific officers to execute documents
1. Declaration of Interests: Required when directors have relevant interests in the borrowing arrangement
2. Security Details: Details of any security/collateral to be provided when borrowing requires security arrangements
3. Special Conditions: Any specific conditions or requirements imposed by the lender
1. Term Sheet: Key terms of the proposed facility
2. Security Documents List: List of required security documents
3. Authorized Signatories: List of persons authorized to execute documents
Authors
Board of Directors
Directors
Borrowing
Facility
Facility Agreement
Security
Authorized Signatories
Financial Institution
Lender
Principal Amount
Interest Rate
Repayment Terms
Security Documents
Collateral
Corporate Seal
Resolution Date
Meeting
Quorum
Articles of Association
Constitution
Governing Law
Business Day
Term
Material Adverse Change
Authority and Powers
Amount and Terms
Security and Collateral
Authorized Signatories
Execution of Documents
Bank Account Authority
Declaration of Interest
Certification
Compliance with Constitution
Corporate Powers
Financial Limits
Document Authentication
Recording and Filing
Regulatory Compliance
Board Approval
Quorum Confirmation
Meeting Details
Implementation Authority
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