SECTION 1-3

For the purpose of this Uniform act, the following expressions shall be defined as follows: - “insolvency”: the status of the debtor who is unable to pay its due debts out of its available assets, excluding situations where reserves of credit or payment moratoria granted by creditors enable the debtor to settle due debts; - “dispute”: any difficulty, conflict, dispute, litigation, claim or demand of commercial or civil nature, namely in terms of contracts arising between parties with respect to their contractual relations; - “company”: any natural person or legal entity subject to the provisions of this Uniform act pursuant to Article 1-1 above; - “establishment”: any place of exploitation or operations where the debtor carries out, in a non-transitory manner, an economic activity of production, processing, marketing or supply of goods or services with human and physical resources; - “foreign State”: any State not party to the OHADA Treaty; P. 7 of 139 - “State party”: any State party to the OHADA Treaty; - “Legal notice gazette”:on the one hand, the official gazette, newspapers authorized for this purpose by competent authorities, the national Register of Commerce and Securities and, on the other hand, national daily newspapers showing actual subscriptions, depositaries or vendors, under additional conditions for publications for more than six (06) months and evidence of nationwide circulation; - “foreign jurisdiction”: authority, judicial or otherwise, empowered to oversee, monitor or acquaint with a bankruptcy proceedingsundertaken in a foreign State; - “Judicial administrator”: the expert in preventive settlement cases and trustee in reorganization or assets liquidation; - “Small enterprise”: any sole proprietorship, company or other legal entity governed by private law whose number of employees is less than or equal to twenty (20), turnover does not exceed fifty million (50,000,000) CFA francs, excluding taxes for twelve (12) months prior to the action before the competent court pursuant to this Uniform act; - “foreign bankruptcy procedure”: bankruptcy judicial, administrative or other proceedings, including an interim proceedingsgoverned by insolvency law or foreign state bankruptcy procedures in the framework of which the assets and affairs of the debtor are subject to oversight or monitoring by a foreign court for the purposes of reorganization or assets liquidation of the debtor; - “secondary foreign bankruptcy procedure”: a foreign bankruptcy, other than the main foreign bankruptcy procedure open in a foreign State where the debtor has an establishment, as defined above, without making it its main business center; - “main foreign bankruptcy procedure”: a foreign bankruptcy procedure in a foreign State where is located the debtor’s main business center, including its registered office, its center of operations, its principal place of business or, where appropriate, his principal residence; - “main bankruptcy procedure”: a bankruptcy procedure undertaken pursuant to this Uniform act on the territory of a State party where the debtor has his principal place of business, or the legal entity, its registered office; - “secondary bankruptcy procedure”: a bankruptcy procedure undertaken pursuant to this Uniform act in the territory of a State party where the debtor has no principal place of P. 8 of 139 business or the legal entity, its registered office, after the opening of a main bankruptcy procedure in the territory of a State party; - “territorial bankruptcy procedure”: a bankruptcy procedure undertaken pursuant to this Uniform act on the territory of a State Party where the debtor has no principal place of business or the legal entity, its registered office, insofar as the main bankruptcy procedure is not open on the territory of a State party; - “foreign representative”: a person or a body, appointed on an interim basis, authorized in a foreign bankruptcy proceedings to administer the reorganization or assets or business liquidation of the debtor, or to act as a representative of the foreign bankruptcy procedure; - “super priority salaries”: compensation of any kind, irrespective of their name, which, within the limit of the elusive fraction defined by the laws and regulations of each State Party, are payable to workers and apprentices for twelve (12) months of work preceding the decision to open reorganization or assets liquidation proceedings.