Board Minutes Resolving to Issue Loan Notes
These template board minutes can be used to record a board meeting at which a company’s board resolves to approve and issue loan notes to named subscribers.
Loan notes require a company to execute a deed constituting or creating the loan notes and then issue the loan notes to subscribers, evidenced by a certificate with the conditions of the loan notes attached.
Before a company issues loan notes, its articles of association and any other relevant contractual arrangements (for example, financing arrangements) should be checked to confirm whether there are restrictions on its ability to issue loan notes.
What do Board Minutes Resolving to Issue Loan Notes cover?
These minutes record (among other things) that completed application forms for the loan notes have been received and that any pre-emption rights on issue of the loan notes have been waived by existing shareholders.
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