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A Board Resolution For Renewal Of Credit Facility is a crucial corporate governance document used when a company needs to formally approve the continuation of an existing credit arrangement with a financial institution. Under Swiss law, particularly the Swiss Code of Obligations, such resolutions must demonstrate proper corporate authorization and decision-making processes. The document is typically required when an existing credit facility is approaching its expiry date and the company wishes to continue the arrangement. It contains essential information including the facility details, renewal terms, board's consideration of the company's financial position, and specific authorizations for executing the renewal documentation. This resolution is particularly important in the Swiss context, where corporate governance requirements are stringent and financial institutions require clear evidence of proper corporate authorization. The document serves multiple purposes: it fulfills corporate governance requirements, provides authorization for the renewal process, and forms part of the company's official records and the bank's compliance documentation.

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Company Details: Full legal name of the company, registration number, and registered office address

3. Meeting Details: Confirmation of proper meeting convocation, quorum present, and meeting chair

4. Background: Brief description of the existing credit facility, reason for renewal, and reference to original facility agreement

5. Review of Terms: Summary of the key terms of the credit facility being renewed, including amount, interest rate, and duration

6. Declaration of Interest: Statement regarding any directors' interests in the transaction

7. Board Considerations: Confirmation that the board has considered the company's financial position and the appropriateness of the renewal

8. Resolution: The formal decision of the board to renew the credit facility, including specific authorizations

9. Authorization: Specific naming of authorized persons to execute necessary documents and take required actions

10. Certification: Statement certifying the resolution as true and accurate, typically signed by the Chairman or Company Secretary