copies of the resolutions of the board of directors of the Subsidiary Borrowers and the resolutions of the executive board of directors of PSL, certified as true and correct copy by the authorized signatory(ies) of the Subsidiary Borrowers or PSL,as the case may be, duly adopted and in full force and effect, authorizing inter alia, the borrowing in accordance with the terms of this Agreement as well as the execution and delivery of this Agreement and all notices, certificates and other documents required pursuant to or in connection therewith;