Novyasp. z o.o.

Manner of representation

The management board represents the company as follows: - if a one-person management board is appointed, the President of the Management Board is authorised to represent the company independently and individually; disposal of a right or incurring an obligation in an amount exceeding fifty thousand (50,000.00) złoty requires a prior resolution of the partners’ meeting; - in the case of a multi-member management board: 1) each member of the company’s management board is authorised to represent the company independently and individually in all court and out-of-court actions and to make declarations of will on behalf of the company concerning the company’s proprietary rights and obligations, if as a result of such actions an obligation to perform arises in an amount up to fifty thousand (50,000.00) złoty; disposal of a right or incurring an obligation in an amount exceeding fifty thousand (50,000.00) złoty requires a prior resolution of the partners’ meeting; 2) if as a result of such actions an obligation to perform arises in an amount exceeding fifty thousand (50,000.00) złoty, the joint action of two (2) members of the management board is required, one of whom must be the President of the Management Board; disposal of a right or incurring an obligation in an amount exceeding fifty thousand (50,000.00) złoty requires a prior resolution of the partners’ meeting.