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Resolution: Corporate Resolution For Borrowing

Corporate resolution to borrow from bank

In order to get a loan at a bank, the corporation must authorize the borrowing. This form can be used for this purpose. Please note that some banks will insist that their form be used although this form is adequate.

CORPORATE RESOLUTION FOR BORROWING

A special meeting of the Board of Directors of ________________________, Pty Ltd., was held on __________ of __________, 20 ___, 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 $---- (& no/100 dollars) 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 _______________ Bank, may be signed on behalf of the corporation by its President, __________________.

_______________________ Pty Ltd. by:

____________________________________

SECRETARY

____________________________________

Attest, President