Board minutes: corporate guarantor
Minutes of a meeting of the board of directors of a company to approve a corporate guarantee
BackgroundÂ
The directors of a company which is entering into a corporate guarantee should approve the guarantee at a duly convened board meeting.Â
For a guarantee of a borrower’s obligations under a loan or facility agreement, the lender is also likely to require that the guarantee is approved by the board of the corporate guarantor and that a copy of the meeting minutes is provided to the lender as a pre-condition to the first advance under the loan or facility being made.
About these Board minutes: corporate guarantor
These minutes are for a meeting of the board of directors of a company at which a corporate guarantee is approved.
Document features:
- Declaration of director’s interest (if applicable)
- Resolution to approve guarantee
Explanatory guidance
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