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The resolution also grants authority to provide collateral, including mortgaging, pledging, transferring, endorsing, or otherwise encumbering company property as security for loans or indebtedness. It further permits execution of required security documents and financing statements, and authorizes subordination of certain existing and future obligations and security interests to DFCU Financial.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/llc-resolution-to-borrow-grant-collateral-subordinate-debt/282449/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/llc-resolution-to-borrow-grant-collateral-subordinate-debt/282449.png","ImageObject",442,249,{"name":88,"@type":89},"Mimi","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-19","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",10,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"Who is authorized to act for the company under this resolution?","Question",{"text":109,"@type":110},"Any one of the authorized persons listed as members may enter into agreements with the lender and take actions on behalf of the company, binding the company.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What actions can the authorized persons take regarding borrowing?",{"text":114,"@type":110},"They may borrow money from time to time from the lender, on terms agreed between the company and the lender.",{"name":116,"@type":107,"acceptedAnswer":117},"How does the resolution address collateral and subordinate debt?",{"text":118,"@type":110},"It authorizes granting security by encumbering company property as collateral, executing related security documents, and subordinating the company’s obligations and certain security interests to the lender.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},282449,1790076705,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":9},2336477974920,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","LIMITED LIABILITY COMPANY RESOLUTION TO BORROW / GRANT COLLATERAL  \n/ SUBORDINATE DEBT  \nCompany:   Lender: DFCU Financial  \nPO Box 6048  \nDearborn, MI 48121-9853  \nWE, THE UNDERSIGNED, DO HEREBY CERTIFY THAT:  \nTHE COMPANY'S EXISTENCE. The complete and correct name of the Company is   (\"Company\") . The Company is a limited liability company which is, and at all times shall be, duly organized, validly existing, and in good standing under and by virtue of the laws of the State of Michigan. The Company is duly authorized to transact business in all other states in which the Company is doing business, having obtained all necessary filings, governmental licenses and approvals for each state in which the Company is doing business. Specifically, the Company is, and at all times shall be, duly qualified as a foreign limited liability company in all states in which the failure to so qualify would have a material adverse effect on its business or financial condition. The Company has the full power and authority to own its properties and to transact the business in which it is presently engaged or presently proposes to engage. The Company maintains an office at     . Unless the Company has designated otherwise in writing, the principal office is the office at which the Company keeps its books and records. The Company will notify Lender prior to any change in the location of the Company's state of organization or any change in the Company's name. The Company shall do all things necessary to preserve and to keep in full force and effect its existence, rights and privileges, and shall comply with all regulations, rules, ordinances, statutes, orders and decrees of any governmental or quasi-governmental authority or court applicable to the Company and the Company's business activities.  \nRESOLUTIONS ADOPTED. At a meeting of the members of the Company, duly called and held on   , at which a quorum was present and voting, or by other duly authorized action in lieu of a meeting, the resolutions set forth in this Resolution were adopted. MEMBERS. The following named persons are members of   :  \nNAMES TITLES AUTHORIZED ACTUAL SIGNATURES  \nY X   \n____________________ ____________________ _______________________________________________  \nY X   \n____________________ ____________________ _______________________________________________  \nY X   \n____________________ ____________________ _______________________________________________  \n    Y X    \nACTIONS AUTHORIZED. Any one (1) of the authorized persons listed above may enter into any agreements of any nature with Lender, and those agreements will bind the Company. Specifically, but without limitation, any one (1) of such authorized persons are authorized, empowered, and directed to do the following for and on behalf of the Company:  \nBorrow Money. To borrow, as a cosigner or otherwise, from time to time from Lender, on such terms as may be agreed upon between the Company and Lender, such sum or sums of money as in their judgment should be borrowed, without limitation.  \nExecute Notes. To execute and deliver to Lender the promissory note or notes, or other evidence of the Company's credit accommodations, on Lender's forms, at such rates of interest and on such terms as may be agreed upon, evidencing the sums of money so borrowed or any of the Company's indebtedness to Lender, and also to execute and deliver to Lender one or more renewals, extensions, modifications, refinancings, consolidations, or substitutions for one or more of the notes, any portion of the notes, or any other evidence of credit accommodations.  \nGrant Security. To mortgage, pledge, transfer, endorse, hypothecate, or otherwise encumber and deliver to Lender any property now or hereafter belonging to the Company or in which the Company now or hereafter may have an interest, including without limitation all of the Company's real property and all of the Company's personal property (tangible or intangible), as security for the payment o","cbCaiahW6JfeSUko","https://ap.wps.com/l/cbCaiahW6JfeSUko","pdf",24988,"English","# Resolutions Adopted\n## Members and Authorized Actions\n## Borrow Money\n## Execute Notes\n## Grant Security\n## Execute Security Documents\n## Subordination","[{\"question\":\"Who is authorized to act for the company under this resolution?\",\"answer\":\"Any one of the authorized persons listed as members may enter into agreements with the lender and take actions on behalf of the company, binding the company.\"},{\"question\":\"What actions can the authorized persons take regarding borrowing?\",\"answer\":\"They may borrow money from time to time from the lender, on terms agreed between the company and the lender.\"},{\"question\":\"How does the resolution address collateral and subordinate debt?\",\"answer\":\"It authorizes granting security by encumbering company property as collateral, executing related security documents, and subordinating the company’s obligations and certain security interests to the lender.\"}]","LLC Resolution to Borrow / Grant Collateral - Subordinate Debt | PDF",1789574959]