Kindly provide a sample resolution that a shareholder may pass to subordinate a loan granted to a company.
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Kindly provide a sample resolution that a shareholder may pass to subordinate a loan granted to a company.
Whereas ____ , shareholder, has loaned XYC Corp. $______ on __/__/__, and
In consideration of said shareholder's agreement that said loan be subordinated, as evidenced by the attached ____, dated __/___/__, and signed and agreed to by said ___, shareholder;
It is hereby resolved that said loan shall be subordinate to the following financial obligation(s) of said corporation: ________.
Resolved on ____/___/___ by the Board of Directors of XYX Corporation.
By: _______, corporate secretary.
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