BDN Puchałasp. j.

Manner of representation

1. Each partner has the right to represent the company independently and to make declarations of will on its behalf, subject to paragraph 2. 2. In the matters indicated below, joint representation by all partners is required: a) disposing of the company’s assets in any manner, for consideration or gratuitously, on the basis of any legal act (unilateral, bilateral or multilateral), in particular selling, leasing or lending the components of such assets, except where the disposition consists in payment of the company’s liabilities connected with the company’s current operations; b) encumbering the company’s assets in any manner; c) establishing any security interests on behalf of the company; d) contracting loans or credits on behalf of the company, irrespective of the amount.