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Board Resolution For Working Capital Loan
"Need a Board Resolution For Working Capital Loan to secure a S$2 million facility from DBS Bank for our manufacturing business expansion, with two directors as authorized signatories and pledge of company equipment as security."
1. Title and Date: Formal identification of the resolution and meeting date
2. Attendance Details: List of present directors and confirmation of quorum
3. Preamble: Company details and meeting context
4. Purpose: Statement of the need for working capital loan
5. Resolution Details: Specific terms of the loan approval including amount, lender, and key terms
6. Authorization: Designation of authorized signatories
1. Security Details: Additional section required when specific collateral is being pledged for the loan
2. Related Party Declarations: Section for disclosure of any interested directors or potential conflicts of interest
3. Special Conditions: Section for documenting any specific conditions or covenants imposed by the lender
1. Loan Term Sheet: Summary of key loan terms and conditions
2. Bank Facility Letter: Original offer letter from the bank
3. Security Documents: Details of any collateral or security arrangements
4. Financial Statements: Recent financial statements supporting the loan application
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