Board Resolution for Approval of Lease Agreement

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Document Overview

It is a formal decision made by the Board of Directors of a company authorizing the company to enter into a lease agreement for premises. The resolution records the Board’s approval of the lease terms - such as rent, duration, and conditions and gives authority to specific directors or officers to negotiate, sign, and execute the lease on behalf of the company.

Purpose:
1. To formally authorize the company to lease premises necessary for its operations.
2. To record the Board’s decision in compliance with company law and governance requirements.
3. To empower directors/officers to execute the lease agreement and related documents.
4. To protect the company and its directors, ensuring there is clear evidence that the lease was properly considered and approved.
5. To satisfy landlords and lawyers, since they usually require a certified board resolution before finalizing a lease with a company.

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Board Resolution for Approval of Lease Agreement

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