RESOLVED WHEREAS, this Board of Directors has discussed and determine that it is in the best interests of this Corporation to obtain new funding through a lending relationship with [LENDING INSTITUTION NAME]. Therefore it is RESOLVED that the Corporation is authorized and directed to enter into a loan agreement, [OPTIONAL and security agreement attaching [ASSETS] of the Corporation as collateral]. The form of the agreement(s) are attached as Schedule 1. The final terms of the loan Agreement shall be within the following parameters: Minimum Maximum Borrowing amount ______ ______ Borrowing amount ______ ______ Interest Rate ______ ______ Commence Date ______ ______ Termination Date ______ ______
RESOLVED FURTHER That any officer of the Corporation is hereby authorized and directed and empowered to negotiate and sign and execute, any and all documents required in connection with the Loan, for and on behalf of this corporation, and in its name, allowing for necessary changes as the officers may determine are in the best interests of this Corporation notwithstanding the fact that they must be within the parameters outlined above.