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    samnd Posts: 1, Reputation: 1
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    #1

    Jul 3, 2012, 01:40 AM
    Sample Resolution on Subordination of loan
    Kindly provide a sample resolution that a shareholder may pass to subordinate a loan granted to a company.
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    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Jul 3, 2012, 05:08 AM
    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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