A Board Resolution For Restructuring Of Loan is a critical corporate document required when a company seeks to modify existing loan terms with its lenders in Malaysia. This document is typically needed during financial restructuring, when a company needs to adjust loan repayment terms, interest rates, or other loan conditions. The resolution must comply with the Companies Act 2016, Bank Negara Malaysia guidelines, and other relevant Malaysian regulations. It demonstrates proper corporate governance and decision-making, providing legal protection for both the company and its directors. The document records the board's careful consideration of the restructuring terms, confirms proper authorization, and typically includes details of the original loan, new terms, financial impact, and implementation authority. It's particularly important during economic challenges or when companies undergo significant operational changes requiring debt restructuring.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Present Directors: List of directors present at the meeting, confirming quorum requirements are met
3. Background: Overview of the existing loan arrangement and reasons for restructuring
4. Definitions: Key terms used in the resolution
5. Details of Original Loan: Specifics of the existing loan agreement including date, parties, amount, and key terms
6. Restructuring Terms: Detailed description of the proposed restructuring terms including new payment schedule, interest rates, and tenure
7. Board's Consideration: Statement of the board's deliberation and consideration of the restructuring proposal
8. Resolution: The formal resolution(s) being passed, clearly stating what is being approved
9. Authorization: Authorization for specific officers to execute documents and take necessary actions
10. Certification: Statement certifying that the resolution was duly passed and is in accordance with the company's constitution
1. Financial Impact Statement: Analysis of the financial impact of the restructuring on the company - include when the restructuring materially affects the company's financial position
2. Related Party Disclosure: Required if the loan involves related parties or directors' interests
3. Security Arrangements: Include when new or modified security arrangements are part of the restructuring
4. Regulatory Compliance Statement: Specific statement of compliance with banking or securities regulations - include for listed companies or when required by lenders
5. Risk Assessment: Evaluation of risks associated with the restructuring - include for material loan amounts or complex restructuring arrangements
1. Schedule 1: Original Loan Agreement: Copy or summary of the original loan agreement being restructured
2. Schedule 2: New Payment Schedule: Detailed schedule of revised payment terms and dates
3. Schedule 3: Security Documents: List and copies of security documents affected by the restructuring
4. Appendix A: Financial Projections: Financial forecasts showing ability to meet restructured obligations
5. Appendix B: Lender's Term Sheet: Term sheet or proposal from the lender for the restructuring
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate and Property Development
Manufacturing
Construction
Infrastructure
Oil and Gas
Telecommunications
Retail
Hospitality
Agriculture
Mining
Transportation and Logistics
Relevant Teams
Legal
Finance
Corporate Secretariat
Treasury
Risk Management
Compliance
Corporate Governance
Board Secretariat
Executive Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Finance Director
Corporate Secretary
Board Director
Managing Director
Treasury Manager
Financial Controller
Risk Management Officer
Compliance Officer
Corporate Governance Officer
Banking Relationship Manager
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