SECTION 27

At the time he deposits the declaration provided for in Article 25 above or no later than fifteen days following the said deposit, the debtor shall file a composition proposal specifying the measures and conditions envisaged for the recovery of the company, in particular: - Modalities for continuing the operation of the company such as request or the grant of time limits and debt remissions, partial transfer of assets specifying the property to be transferred; transfer or management lease of a branch of activity forming a business; transfer or management lease of the entire company. Such modalities shall not be restrictive and exclusive of each other; - The persons to execute the composition agreement and all the commitments entered into by them and needed for the recovery of the company; modalities for maintaining and financing the company, and payment of debts contracted prior to the decision to commence proceedings as well as, where necessary, the guarantees provided to ensure its execution; these commitments and guarantees may consist, in particular, in subscribing to an increase of the registered capital of the company by old or new members, the opening of credits by banks or other financial institutions, the continuous execution of contracts concluded prior to the decision to commence proceedings and the provision of securities; - layoffs for economic reasons which shall be carried out under the conditions stipulated by Articles 110 and 111 of this Uniform Act; and - the replacement of managers.