Legal Forms
To search for a particular term please use the following search box.
Important Notice : Lawyerintl.com strongly recommends that you seek independent legal advice from a qualified lawyer before using any of the forms on this site, in order that you can verify the forms are suitable for your needs.
Borrow Capital
BORROW CAPITAL
WHEREAS, the Corporation is in need of additional capital, and
WHEREAS, [Name of Lender], has agreed to loan to the Corporation the sum of $ [Amount of Money] U.S. Dollars, and
WHEREAS, such borrowing appears to be advantageous to the Corporation as it is on better terms than would be available elsewhere; be it
RESOLVED, that the Corporation borrow the sum of $ [Amount of Money] from Name of Lender], and that said sum be repaid in or within [Amount of Years] years with interest thereon at [Percentage] % per year on the unpaid balance, as more fully set forth in a promissory note and collateral loan documents as have been presented to and reviewed by this Board.
The undersigned hereby certifies that [he/she] is the duly elected and qualified Secretary and the custodian of the records and books and seal of the [Name of Corporation] corporation. The undersigned also certifies that this corporation has been duly formed in accordance with the laws of [State of Jurisdiction]. Furthermore, the undersigned certifies that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with the applicable laws and the Bylaws of the [Name of Corporation] Corporation on [Date of Meeting], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the [Name of Corporation] Corporation on [Date signed]
A True Record.
Attest.
Secretary