A Board Resolution For Working Capital Loan is a crucial corporate document required when a company operating in Qatar seeks to obtain working capital financing from a bank or financial institution. This document is mandatory under Qatar Commercial Companies Law and banking regulations to demonstrate proper corporate authorization for borrowing. The resolution must be drafted in compliance with local corporate governance requirements and should clearly state the board's approval of the loan terms, designation of authorized signatories, and any security arrangements. It serves as a key document in the loan documentation package and is typically required by Qatari banks before disbursing any funds. The resolution should reflect the company's constitutional documents and any specific requirements of the lending institution.
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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 notice, quorum present, and meeting validity
4. Directors Present: List of directors attending the meeting and those absent
5. Chairman: Identification of the meeting's chairman
6. Loan Purpose: Clear statement of the working capital loan purpose and business justification
7. Loan Terms: Key terms including amount, interest rate, tenure, and security (if any)
8. Bank Details: Identity of the lending bank/financial institution
9. Board Approval: Formal resolution language approving the loan facility
10. Authorized Signatories: Designation of authorized persons to execute loan documents
11. Closing: Signatures of chairman and company secretary, date of signing
1. Related Party Disclosure: Required if any directors have interests to declare in the transaction
2. Security Details: Include if specific assets are being pledged as security for the loan
3. Financial Covenants: If specific financial ratios or conditions are being agreed to
4. Corporate Benefit Statement: Detailed statement of how the loan serves corporate interests, recommended for larger facilities
5. Previous Resolutions: Reference to any previous relevant board resolutions if this is an amendment or renewal
6. Risk Assessment: Brief analysis of the risks and mitigation strategies, recommended for larger facilities
1. Schedule 1 - Facility Terms: Detailed breakdown of all loan terms and conditions
2. Schedule 2 - Authorized Signatories: Detailed list of authorized persons with specimen signatures
3. Schedule 3 - Security Details: If applicable, detailed description of assets being pledged
4. Appendix A - Bank Term Sheet: Copy of the bank's term sheet or facility letter
5. Appendix B - Financial Projections: If required, showing ability to service the debt
6. Appendix C - Powers of Attorney: If specific powers of attorney are being granted
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