[INSERT COMPANY NAME]
(INSERT COMPANY NUMBER)
(Incorporated in Malaysia)
CIRCULAR RESOLUTIONS OF DIRECTORS MADE PURSUANT TO ARTICLE [INSERT NUMBER] OF THE COMPANY’S ARTICLES OF ASSOCIATION
We, the undersigned, being all of the directors of [INSERT COMPANY NAME], for the time being, do, at this date, pursuant to the authority given by Article [INSERT NUMBER] of the Company’s Article of Association, resolve:
CREDIT FACILITY
- That the Company do authorize [INSERT DIRECTOR’S NAME], a director of the Company to accept for and on behalf of the Company, the following Credit Facility granted to [INSERT DIRECTOR’S NAME] by [INSERT BANK NAME(INSERT BANK NUMBER)] of [INSERT BANK’s Address](hereinafter referred to as “the Bank”) on such terms and conditions as stipulated in the Bank’s Letter of Offer dated [INSERT DATE] under Reference No. [INSERT NUMBER] and any supplemental letters of offer issued by the Bank from time to time (“Letter of Offer”) upon the terms and conditions and such other terms and conditions as the Bank and [INSERT DIRECTOR’S NAME] may mutually agree from time to time:-
Facility
Flexi-Mortgage (“FM”) Facility of Ringgit Malaysia [INSERT AMOUNT] (RM [INSERT AMOUNT]) only (“the FM Limit”) comprising the following:-
- a Fixed Loan (“Fixed Loan”) of Ringgit Malaysia [INSERT AMOUNT] (RM[INSERT AMOUNT] ) only, as the same may be reduced from time to time by repayment or prepayment (which principal limit of the Fixed Loan as reduced from time to time is hereinafter referred to as “the FL Limit”) and
- a Mortgage Line (“Mortgage Line”) of up to the difference between Ringgit Malaysia Zero (RM0.00) only (“the Maximum ML Limit”) and the FL Limit (which principal limit of the Mortgage Line as increased from time to time is hereafter referred to as “the ML Limit”).
- That the aforesaid Credit Facility be secured by way of the following:
- A 3rd-Party 1st legal charge for Ringgit Malaysia [INSERT AMOUNT] (RM [INSERT AMOUNT] only) is to be created over a/an [INSERT TYPE OF BUIDLING] known as Parcel No. [INSERT NUMBER] Type [INSERT TYPE], [INSERT LOCATION] together with car-park(s) and accessory parcel(s) (if any) upon issuance of individual title to the property.
Pending issuance of title, an all monies loan agreement cum assignment and power of attorney are to be created as interim security.
- That [INSERT DIRECTOR’S NAME] be and is hereby empowered to sign the Letter of Offer and all other relevant documents pertaining thereto and/or such other security documents as may be required to be executed for and on behalf of the Company;
- That the Common Seal of Company be affixed unto the Deed of Assignment and all other relevant documents that may be necessary in the presence of the two(2) directors of the Company in accordance with the Articles of Association of the Company.
BOARD OF DIRECTORS
…………………………….. ……………………………
Name : Name:
Dated this [INSERT DATE]
