A Board Resolution For Authorization To Sign Lease Agreement is a crucial corporate governance document required under Philippine law when a company needs to formally delegate authority for executing lease agreements. This document is essential whenever a corporation plans to enter into a lease agreement, whether as a tenant or landlord, and needs to designate specific individuals with the power to negotiate, finalize, and sign such agreements. The resolution must comply with the Revised Corporation Code of the Philippines and typically follows a board meeting where the authorization is discussed and approved. It provides legal protection for both the corporation and the authorized signatories by clearly defining the scope of authority and ensuring proper corporate approval processes are followed. This type of resolution is particularly important in the Philippine business context, where formal documentation of corporate authorizations is strictly enforced.
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1. Title and Corporate Details: Full legal name of corporation, registration number, and registered address
2. Date and Venue: Date, time, and place of the board meeting
3. Attendance and Quorum: List of present board members and confirmation of quorum requirements being met
4. Background: Brief context about the lease agreement and reason for requiring board authorization
5. Recitals: Reference to relevant corporate powers under Articles of Incorporation and By-laws
6. Main Resolution: Specific authorization for designated person(s) to sign and execute the lease agreement
7. Scope of Authority: Details of what the authorized person(s) can negotiate, agree to, and execute
8. Certification: Secretary's certification of the resolution's authenticity and approval
9. Signatures: Signatures of the Corporate Secretary and Chairman/President as required
1. Additional Authorizations: Extra authorizations for related documents or actions, used when lease execution requires additional documentation
2. Specific Lease Terms: Key terms of the lease that the board specifically approves, used for high-value or strategic leases
3. Delegation of Powers: Authorization to delegate certain responsibilities, used in complex lease arrangements
4. Ratification: Ratification of prior actions related to the lease, used when some steps have been taken before formal approval
5. Conditions Precedent: Specific conditions that must be met before authorization becomes effective, used for conditional approvals
1. Schedule A - Lease Details: Summary of key lease terms and property details
2. Schedule B - Authorized Signatories: List of authorized persons with their positions and specific signing powers
3. Schedule C - Supporting Documents: List of relevant corporate documents referenced in the resolution
4. Appendix 1 - Board Meeting Minutes Extract: Relevant extract from the board meeting minutes where resolution was passed
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Retail
Manufacturing
Financial Services
Technology
Healthcare
Education
Hospitality
Logistics
Professional Services
Construction
Energy
Relevant Teams
Legal
Corporate Secretariat
Board of Directors
Executive Office
Compliance
Real Estate
Facilities Management
Risk Management
Corporate Governance
Administrative Services
Relevant Roles
Chief Executive Officer
Corporate Secretary
Board Director
Chairman of the Board
President
Chief Legal Officer
Legal Counsel
Chief Financial Officer
Compliance Officer
Real Estate Manager
Facilities Manager
Property Manager
Corporate Governance Officer
Risk Management Officer
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