Przytok Golfsp. z o.o.

Manner of representation

In the case of a one-person management board, the company is represented by one member of the management board. In the case of a multi-member management board, each member of the management board is entitled to independently make declarations of will on behalf of the company, except for making the following decisions, which require a joint declaration of will by 2 (two) members of the management board or 1 (one) member of the management board jointly with a commercial proxy: - incurring liabilities entailing expenses or performing such acts by the company as would result in the creation of a liability whose value is equal to or exceeds PLN 20,000 (twenty thousand zlotys); - incurring any loans, credits, civil-law and bill-of-exchange guarantees, pledges, transfers of ownership by way of security, and establishing any other security interests for third parties; - selling any tangible and intangible components of the company's assets with a value exceeding PLN 20,000 (twenty thousand zlotys).