Edukomsp. z o.o.

Manner of representation

In the case of appointing a multi-member management board, each member of the management board is authorised independently to make declarations on behalf of the company, except for the following legal transactions, for which joint action of two members of the management board or a member of the management board jointly with a commercial proxy is required: disposal of a right or incurring an obligation to render a performance with a value exceeding PLN 20,000.00 (twenty thousand zlotys), or release from such an obligation; in the case of recurring agreements with the same contractor or agreements for periodic performances, the value of the obligations for one calendar year is aggregated; taking out a bank loan; sale or encumbrance of the company's real property or fixed asset; sale, lease, tenancy, paid or unpaid use of an organised part of the enterprise or of the company's enterprise; granting commercial procuration, acquisition or taking up by the company of shares or stocks in other companies; granting by the company of a donation, surety or guarantee, and establishment of mortgages; issuing a bill of exchange on behalf of the company or granting a bill-of-exchange surety.