Scribd Logo
Upload

Welcome to Scribd!

  • Credit Facilities

    Uploaded by

    Kuria Karatu
    12 views1 page
    The board of directors of XXXX (Kenya) Limited held a meeting where they resolved to: 1) Borrow up to KShs. 3,000,000 from Xxxx Commercial Bank Limited based on arrangements made. 2) Authorize the directors to create a first fixed and floating debenture for KShs. 3,000,000 over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of Xxxx Commercial Bank Limited. 3) Execute all necessary documents required by the bank in connection with the debenture.

    Original Description:

    Original Title

    credit facilities

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The board of directors of XXXX (Kenya) Limited held a meeting where they resolved to: 1) Borrow up to KShs. 3,000,000 from Xxxx Commercial Bank Limited based on arrangements made. 2) Authorize the directors to create a first fixed and floating debenture for KShs. 3,000,000 over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of Xxxx Commercial Bank Limited. 3) Execute all necessary documents required by the bank in connection with the debenture.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    12 views1 page

    Credit Facilities

    Uploaded by

    Kuria Karatu
    The board of directors of XXXX (Kenya) Limited held a meeting where they resolved to: 1) Borrow up to KShs. 3,000,000 from Xxxx Commercial Bank Limited based on arrangements made. 2) Authorize the directors to create a first fixed and floating debenture for KShs. 3,000,000 over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of Xxxx Commercial Bank Limited. 3) Execute all necessary documents required by the bank in connection with the debenture.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    XXXX (KENYA) LIMITED

    DIRECTORS’ RESOLUTION

    AT A MEETING OF THE BOARD OF DIRECTORS HELD AT NAIROBI


    ON THE … … … DAY OF … … … … … 2001 AT … … … A.M/P.M.
    PRESENT WERE:

    THE CHAIRMAN REPORTED that arrangements had been made with Xxxx
    Commercial Bank Limited, Victor House, Kimathi Street, Nairobi to grant to the
    Company credit facilities not exceeding the sum of Kenya Shillings Three Million
    (K.Shs.3,000,000.00).

    IT WAS RESOLVED that the Company should borrow from the Bank in manner
    aforesaid sums not exceeding Kenya Shillings Three Million (K.Shs.3,000,000.00).

    IT WAS FURTHER RESOLVED that the Directors be and are hereby authorised to
    create a first fixed and floating Debenture for Kenya Shillings Three Million
    (K.Shs.3,000,000.00) over all the assets undertaking goodwill receivables and inventory
    both present and future and uncalled share capital of the company in favour of Xxxx
    Commercial Bank Limited and to execute all the necessary documents as may be
    required by the Bank in this connection.

    The above is certified a true copy of


    the Resolution of the Board of Directors

    _______________________ ______________________
    DIRECTOR DIRECTOR/SECRETARY

    You might also like