Board Resolution authorizing

corporate officer to obtain a

bank loan
Posted on August 28, 2012 by ALVIN CLARIDADES

3 Votes

BOARD RESOLUTION AUTHORIZINGCORPORATE OFFICER

REPUBLIC OF THE PHILIPPINES }
MAKATI CITY } S.S.
SECRETARYS CERTIFICATE
I, Mary Joy Baybay, Filipino, of legal age, with office address at 1434
AyalaAvenue, Makati City, after being sworn in accordance with law, do
hereby depose andstate as follows:
1. That I am the incumbent Corporate Secretary of Disk Drives Unlimited,
acorporation duly organized and existing under Philippine laws, with principal
office at1434 Ayala Avenue, Makati City,;
2. That during the special meeting of the Board of Directors held on 5
January2007, wherein a quorum was present and acted throughout, after
being informed of thenecessity of obtaining loans and/or credit
accommodation with any banking/ lendinginstitution, to generate funds for
the purpose of expanding the business of exportinghard disk drives, the
Board approved the following resolution, to wit:
RESOLUTION NO. BD-028-2007
RESOLVED, as it is hereby resolved, that the corporation be empoweredand
authorized to apply for, negotiate, obtain loans from HOWARDBANKING INC.,
including the renewal, extension and/or increase, rolloveror restructuring
thereof, and/or of its existing credit facilities in suchamount(s) and under
such terms and conditions as may be mutuallyagreed upon, and to secure

and guarantee the payment of the aforesaidloan or credit facilities by means

of mortgage, pledge, assignment or anyother form of encumbrance upon any
and all properties or assets of thecorporation of whatever kind or nature, real
or personal, as may besufficient or required for the purpose.
RESOLVED FURTHER, as it is hereby resolved, that ISIDRO BARRIOS,the
President, be authorized to sign, execute, and deliver any and alldocuments
including but not limited to loan application, disclosurestatement, purpose
sheet, application for letters of credit, promissory note,draft, surety
agreement, trust receipt, mortgages, pledge, assignment, andthe like,
including the renewals/extensions/increase/amendments/restructuring
thereof, in orderto effectuate the foregoing matters.

NAME
POSITION
SIGNATURE
Isidro Barrios
President

RESOLVED FINALLY that HOWARD BANKING INC. be furnished a copyof the

foregoing resolutions for its guidance and may continue to rely onthe
authority conferred thereon, including the renewal, increase, roll-overand/or
restructuring thereof, unless and except to the extent that theforegoing
resolutions shall be revoked or modified by the receipt of anysubsequent
resolution/s of the Board of Directors of the Corporation.

3. That the foregoing Resolution remains valid and has not in any manner
beennovated, revoked, nor repealed to date.
AFFIANT FURTHER SAYETH NAUGHT.
Issued this 20th day of March 2007 at Makati City.