Board Resolution Format for Leave and License Agreement

Posted by on sep 28, 2023 in Okategoriserade | No Comments

As a professional, I’m going to walk you through the board resolution format for a leave and license agreement.

A leave and license agreement is a legal contract drawn up between the property owner (licensor) and the tenant (licensee) for the purpose of renting out the property temporarily. This agreement outlines the terms and conditions of the rental arrangement, including the duration of the agreement, rent amount, security deposit, maintenance obligations, and termination clauses. But before a leave and license agreement can be executed, a board resolution must be passed by the licensor’s board of directors.

The board resolution is a formal document that authorizes the licensor to enter into a leave and license agreement with the licensee. Here’s what the board resolution format typically looks like:

1. Heading: The heading should include the name of the licensor and the date of the resolution.

2. Introduction: The introduction should state the purpose of the resolution, which is to authorize the licensor to enter into a leave and license agreement with the licensee.

3. Approval of the Agreement: The resolution should state that the board has reviewed and approved the terms of the leave and license agreement.

4. Authorization: The board resolution should authorize the licensor to execute the leave and license agreement with the licensee.

5. Signatures: The resolution should be signed by the board members who are present at the meeting.

It’s important to note that the board resolution must be passed by a majority vote of the board of directors. Once the resolution is passed, the licensor can then execute the leave and license agreement with the licensee.

In conclusion, if you’re a licensor looking to execute a leave and license agreement, make sure you follow the proper protocol and have a board resolution passed by your board of directors. This will give you the legal authority to enter into the rental agreement and protect you in case of any disputes.