This precedent has been authored by Michael Hodgson, Partner, Dibbs Abbott Stillman, Anthony McFarlane, Lawyer, Dibbs Abbott Stillman and updated by Jane Garber-Rosenzweig, Prinicipal, Gable Lawyers. Previous versions of this were authored A J Munton, Partner, Corrs Chambers Westgarth, Adam J Levine, Partner, Middletons and Caitlin Armstrong, Lawyer, Dibbs Abbott Stillman. Introductory note This precedent is a resolution of the directors of the company to borrow funds on terms and conditions of a loan agreement tabled at the meeting of directors.