KSJ Stec Zarządzanie Nieruchomościamisp. k.

Manner of representation

1. Each general partner is authorised to make declarations independently in matters not exceeding the ordinary activities of the company, whereby a matter not exceeding the scope of the ordinary activities of the company means consenting to a legal act resulting in the incurring of an obligation or disposal of a right with a value not exceeding PLN 1,000,000 (in words: one million złoty). 2. Each general partner is authorised independently to make declarations concerning the company’s property and non-property rights and obligations and to sign documents on behalf of the company resulting in the disposal of a right whose value does not exceed PLN 1,000,000 (one million złoty), inclusive, or the creation of an obligation to render a performance worth up to PLN 1,000,000 (one million złoty), inclusive. 3. The joint action of all general partners is required to make declarations concerning the company’s property and non-property rights and obligations and to sign documents on behalf of the company resulting in the disposal of a right whose value exceeds PLN 1,000,000 (one million złoty), or the creation of an obligation to render a performance worth more than PLN 1,000,000 (one million złoty).