Topleveltennis.Comsp. z o.o.

Manner of representation

In the case of a one-person management board, the President of the Management Board is independently authorised to make declarations of will on behalf of the company. In the case of a multi-member management board, each member of the management board is authorised to make declarations of will on behalf of the company, except for making the following decisions, which require the joint action of at least two members of the management board, or a member of the management board together with a commercial proxy: - incurring liabilities involving expenses or carrying out such actions by the company as would result in a liability whose value is equal to or exceeds PLN 100.00,00 (one hundred thousand złoty); - incurring any loans or credits, granting civil-law and bill-of-exchange guarantees, creating pledges, transfers of ownership by way of security, and establishing any other security interests in favour of third parties; - selling any tangible and intangible assets of the company's property with a value exceeding PLN 100,000.00 (one hundred thousand złoty); - issuing bills of exchange of any kind and concluding pledge agreements; - concluding lease agreements and other agreements for a period longer than one year, as well as agreements in which the notice period is longer than six months.