Document:

cnv_Ex4_75

		
			Exhibit 4.75
		

		
			 
		

		
			ENGLISH SUMMARY OF VERBAL ALIMENTAIRE EXPRESS AGREEMENT BETWEEN CDISCOUNT S.A. (“CDISCOUNT” or “HOSTING SITE”) AND FRANPRIX HOLDING S.A.S., acting on its own behalf and on behalf of and for the account of the “Stores”, (“FPH” or the “Seller”)
		

		
			 
		

		
			SPECIFIC CONDITIONS GOVERNING THE PROVISION OF THE “C LE MARCHÉ” MARKETPLACE FOR THE “ALIMENTAIRE EXPRESS” SERVICE
		

		
			 
		

		
			Parties: Cdiscount and FRANPRIX HOLDING (each a “Party” and collectively the “Parties”)
		

		
			 
		

		
			Date: Retroactively takes effect on December 1, 2015. 
		

		
			 
		

		
			Background: CDISCOUNT produces and operates an e-sales site, located at www.cdiscount.com which offers its customers a large range of attractively priced products.
		

		
			 
		

		
			On the same site, CDISCOUNT hosts a technical Marketplace platform which enables professional sellers to offer their products for sale according to the conditions laid out in the General Conditions for the provision of the “C le Marché” Marketplace (hereafter referred to as the “General Conditions”).
		

		
			 
		

		
			In terms of its operations and its development strategy, Cdiscount intends to increase its offering within the “food” sector and to enter the fresh and perishable produce market.
		

		
			 
		

		
			With this in mind, Cdiscount intends to list those sellers on its “C le Marché” Marketplace that are able to offer a “Alimentaire Express” rapid delivery service, consisting of providing Buyers with the possibility of purchasing mainly food products online, and of having these delivered to the delivery address within one and half hours or within any other subsequent time slot agreed with the Buyer. There is a description of this offer below (henceforth referred to as the “Project”).
		

		
			 
		

		
			Implementation of the Project will enable Cdiscount to offer its clients a new, complementary range of fresh and perishable produce with a new dedicated “express” delivery service.
		

		
			 
		

		
			The FPH group markets several thousand products, chiefly within the food industry and has a large territorial network, concentrated in Paris.
		

		
			 
		

		
			FPH declares its interest in becoming the main partner of Cdiscount in the context of Project implementation.
		

		
			 
		

		
			FPH also states that it is able to put in place a delivery system which matches the “Alimentaire Express” offer, in the name of and for the account of the stores selected by FPH, in order to execute it, henceforth known as the “Stores”.
		

		
			 
		

		
			Under these conditions the Parties have approached each other in order to agree the present Agreement.
		

		
			 
		

		
			Summary of Major Terms: 
		

		
			 
		

		
			1. Presentation of the “ALIMENTAIRE EXPRESS” OFFER
		

		
			 
		

		
			The “ALIMENTAIRE EXPRESS” Cdiscount offer consists of providing Buyers with the possibility of purchasing a range of mainly food products, online, from the www.cdiscount.com site from a range of sellers registered on its “C Le Marché” Marketplace and of guaranteeing delivery, to the delivery address
		

		
			
		

		
			

		 

 

registered on the Site, of these purchased products within one and half hours or within any other subsequent time slot agreed with the Buyer, henceforth referred to as “The Offer”.
		

		
			 
		

		
			Initially this Offer is aimed at consumers requiring delivery within Paris as well as Neuilly-sur-Seine and Levallois-Perret (henceforth known as the “Start Up Territory”).
		

		
			 
		

		
			Parties may decide through a common agreement to expand into other territories, by means of a simple email exchange between the Parties validated by each of the Parties.
		

		
			 
		

		
			Cdiscount acts as web provider as required by the General Conditions.
		

		
			 
		

		
			The Stores, for their part, assume not only full responsibility as Sellers under the General Conditions but they also commit to make delivery to the home of the Buyer within one and half hours or any other subsequent time slot agreed with the Buyer.
		

		
			 
		

		
			A non-contractual (visual representation) explanation of the Offer has been enclosed in Appendix 1 to the Agreement.
		

		
			 
		

		
			2. OBJECT OF THE AGREEMENT
		

		
			 
		

		
			The present Agreement aims to determine the terms and conditions which govern the obligations of each Party with the aim of implementing the Project.
		

		
			 
		

		
			It is understood that there exists no exclusivity obligation between the Parties.
		

		
			 
		

		
			3. AGREEMENT documents
		

		
			 
		

		
			The relationship between the Parties in this Project is governed by:
		

		
			 
		

		
			- These Specific Conditions Governing the Provision of the "C Le Marché" Marketplace for the "Alimentaire Express" Service; 
		

		
			- The General Conditions for the provision of the “C le Marché” Marketplace. The version currently in force at the date hereof is annexed to the Agreement. In case of modification of the General Conditions, the new version comes into force between the Parties as indicated in the General Conditions. 
		

		
			 
		

		
			4. EFFECTIVE DATE – TERM
		

		
			 
		

		
			The Agreement is effective on December 1, 2015 and is valid for an indefinite time.
		

		
			 
		

		
			The Agreement can be terminated under the Conditions set forth in section “Termination”
		

		
			 
		

		
			5. TIMETABLE
		

		
			 
		

		
			The Parties commit with a start date for the Project on December 1, 2015.
		

		
			 
		

		
			6. COOPERATION OBLIGATIONS
		

		
			 
		

		
			The Parties commit themselves to work in close collaboration in order to optimize their cooperation and to ensure the quality of the Project.
		

		
			
		

		
			

		 

 

Therefore, the Parties agree that the success of their cooperation depends on an active collaboration and good faith between their teams and that the exchange of information on a timely matter may avoid the generation of incidents harmful to their respective interests.
		

		
			 
		

		
			Each Party therefore commit to provide to the other Party, on a timely matter, the necessary information reasonably required.
		

		
			In general terms, the Parties shall provide all useful information, which includes all information that may be relevant to their relation.
		

		
			In any case, the Parties must care for the preservation of each other’s image and interests.
		

		
			 
		

		
			7. PROJECT MONITORING 
		

		
			 
		

		
			The Parties shall establish a steering committee to ensure the smooth execution of the Project.
		

		
			 
		

		
			The steering committee will be responsible for arbitrating major decisions of the Project or resolve disagreements between the Parties.
		

		
			 
		

		
			The steering committee will meet regularly throughout the Project and/or exceptionally at the request of any Party. The Committee has the power to change the periodicity of the meetings.
		

		
			 
		

		
			The minutes of the steering committee will be drafted by Cdiscount or FPH in the form of a list of decisions/actions and statements and will be validated by email.
		

		
			 
		

		
			Any decision that could not be reached by the steering committee will be submitted to the respective management of the Parties for arbitration.
		

		
			 
		

		
			8. OBLIGATIONS OF THE PARTIES
		

		
			 
		

		
			8.1 Obligations of FPH
		

		
			 
		

		
			In addition to the obligations set forth in the General Conditions, FPH agrees to, under the terms of the Agreement and under a performance obligation:
		

		
			 
		

		
			- Complete the registration process of a minimum of 14 Stores in the Marketplace "C le Marché" on the effective date of the Agreement. The list of these 14 Stores is given in Appendix 2. This Appendix will be updated as and to the extent that changes are made to this list, simply by agreement between the Parties validated by e-mail;
		

		
			- Respect the Timetable of the Project;
		

		
			- Deliver the Products ordered by the Buyer on the Marketplace "C le Marché" within 1h30 maximum, unless the Buyer specifically requested a later slot. The Parties agree that in case of a delay due to Cdiscount’s  delay in transmitting to the Store the information of the Buyers’s order (the nature of the products to be delivered, the characteristics of the delivery (express or deferred) and full detail of the delivery address) beyond 30 minutes after the placing of the order, the delivery will be delayed for the same length of time and FPH will not incur in any responsibility. Cdiscount will be liable for potential refunds in case of cancellation by the Buyer for late delivery by the deadline requested by the latter.
		

		
			- Be responsible for a timely delivery to the Buyer by any third party hired by FPH and to include in its agreements with these third parties provisions to ensure compliance with all its obligations under the Agreement;
		

		
			
		

		
			

		 

 

- Manage the Marketplace Sellers "C le Marché" accounts in its name and on behalf of the Stores;
		

		
			 
		

		
			FPH recognizes that non-compliance with these obligations will result in the application of the measures set forth in the General Conditions.
		

		
			 
		

		
			8.2 Obligations of CDISCOUNT
		

		
			 
		

		
			CDISCOUNT, acting as the Hosting Site, agrees to use its best efforts to have an annual availability rate of the platform of 98% in order to enable FPH to use the platform 24hours a day.
		

		
			 
		

		
			CDISCOUNT also agrees to implement all the IT security measures necessary to protect the data of the Buyers and the Sellers.
		

		
			 
		

		
			CDISCOUNT agrees to inform the Store the information in connection with all orders placed by the Buyer, no later than 30 minutes after its validation in the system so that FPH has within that period at the latest all useful information (the nature of the products to be delivered, the characteristics of the delivery (express or deferred) and full detail of the delivery address) to honor the Buyer’s order.
		

		
			 
		

		
			CDISCOUNT agrees to mention on all products pages of FPH, in a visible and an unambiguous way, indications to the Buyer, which are indicated by FPH, relating to the conditions of the Offer, ie: the Start Up Territory eligible for delivery, hereinafter the "Offer Conditions".
		

		
			 
		

		
			CDISCOUNT is aware of the need to change the settings of its computer system to automate a reject response to any order that does not meet the Offer Conditions.
		

		
			 
		

		
			9. QUALITY, HYGIENE AND SAFETY 
		

		
			 
		

		
			In addition to the terms of the General Conditions related to the service quality on the Marketplace “C le Marché”, FPH guarantees and takes responsibility for the Stores for the perfect quality, hygiene and security of the Products. 
		

		
			 
		

		
			FPH also guarantees the perfect compliance with French and European regulations that apply to the Products, especially those related to the respect of the cold chain in storage and transportation, particularly the regulation CE n° 852/2004 from April 29, 2004, as amended, in relation to the alimentary products, the order from December 21, 2009, related to sanitary rules applicable to the activities of commercial retail, storage and transportation of products of animal origin or alimentary products containing it, the order from October 8, 2013 related to the sanitary rules applicable to the activities of commercial retail, storage and transportation of products of animal origin or alimentary products containing it, the order from October 8, 2013, related to the sanitary rules applicable to the activities of commercial retail, storage and transportation of products other than of animal origin or alimentary products containing it, and all other regulations applicable or that may follow. 
		

		
			 
		

		
			FPH will keep Cdiscount safe from any demand, claim, and/or suit from any third-party resulting from the non-compliance with any of those regulations.
		

		
			 
		

		
			The non-compliance with this section will cause the automatic termination of the Agreement without prejudice to any damages that may be claimed by Cdiscount.
		

		
			 
		

		
			FPH agrees to implement every Product warning and recall procedure in case of sanitary hazard with the same level of care that it has for its own physical stores.
		

		
			
		

		
			

		 

 

10. RIGHT OF CANCELLATION REGARDING SALES OF PRODUCTS
		

		
			 
		

		
			FPH agrees to accept any Products returned by the Buyer exercising the right of cancellation under the category "dry" products.
		

		
			 
		

		
			11. FINANCIAL CONDITIONS
		

		
			 
		

		
			In view of the following commitments of FPH under the Agreement:
		

		
			 
		

		
			- opening of a minimum of 14 Shops in the Start Up Territory by FPH;
		

		
			- maintenance of a territorial coverage through the Shops to meet delivery deadlines agreed with the Buyer in the Start Up Territory;
		

		
			- Publication and online maintenance of a minimum number of references for each individual Store in the category of "fresh" products according to the recommendations below,
		

		
			 
		

		
			Cdiscount grants to FPHs for a period of six (6) months, a commission fee of "0%" for all sales made by the Stores and free monthly subscription for all Stores (hereinafter the " Franchise Period").
		

		
			 
		

		
			At the end of the Franchise Period, Cdiscount apply and will charge FPH derogatory commission rates as provided in Appendix 2 of the General Conditions, as follows: 
		

		
			 
		

		
			o between 1500 and 2499 online references per Store: 6% 
		

		
			o between 2500 and 3499 online references online per Store: 5% 
		

		
			o between 3500 and 4499 online references online per Store: 3% 
		

		
			o from 4500 online references by Store: 1.5%
		

		
			 
		

		
			At the end of the Franchise Period, Cdiscount shall send an invoice a single monthly subscription for all Stores.
		

		
			 
		

		
			The Parties recall that in accordance with the General Conditions, Cdiscount receives the payment for sales made by FPH.
		

		
			 
		

		
			In consideration for the above commitments by FPH, Cdiscount agrees to issue more frequent transfers in lieu of the 10-day reimbursement provided for in the General Conditions.
		

		
			 
		

		
			Accordingly, at minimum biweekly intervals, Cdiscount will proceed with the transfer of eighty (80)% of the amounts received for sales of the Products made by the Shops in the marketplace C le Marché.
		

		
			 
		

		
			The remaining balance shall be paid by Cdiscount in 10-day payment terms as defined in the General Conditions. Payment of amounts due to Shops shall be made to the bank account indicated by FPH, for which the RIB is attached in appendix 3. FPH shall and is solely responsible for the reimbursement to the Shops of the amounts paid by Cdiscount for their respective sales. Cdiscount cannot be held responsible for any consequences due to a delay or failure of FPH in this subject.
		

		
			 
		

		
			12. RESPONSABILITIES
		

		
			 
		

		
			Each Party is responsible for the obligations imposed on him under this Agreement.
		

		
			 
		

		
			Without prejudice to the application of General Conditions, FPH declares in particular that:
		

		
			 
		

		
			- it has the means and adequate skills to be able to implement the Project according to the agreed terms and promises made by FPH;
		

		
			- it guarantees the compliance with the Agreement and the General Conditions by the Stores.
		

		
			
		

		
			

		 

 

The Parties expressly agree that the responsibility of FPH is a performance obligation.
		

		
			 
		

		
			The Parties are free to subcontract and are solely responsible for their subcontractors, as shall remain responsible under the Project.
		

		
			 
		

		
			13. TERMINATION
		

		
			 
		

		
			The Parties agree that non-compliance with any obligations of FPH under Article 8 "Obligations of FPH" of this Agreement shall constitute misconduct, as defined in the General Conditions.
		

		
			 
		

		
			Conversely, failure to comply with one or more obligations by CDISCOUNT shall also constitute misconduct, if it is not cured within thirty calendar days following the sending of a notice by email. 
		

		
			 
		

		
			14. ENFORCEABILITY
		

		
			 
		

		
			FPH states that it acts in the name and on behalf of the Shops, following the mandate entrusted to it.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

General Conditions for Making Available the “C le Marché” Marketplace via the Hosting Site www.cdiscount.com
		

		
			 
		

		
			Consult here the English language version of the General Conditions for the Provision of the “C le Marché” marketplace on www.cdiscount.com
		

		
			 
		

		
			Click here to consult the General Terms and Conditions for Providing the “C le Marché” Marketplace on www.cdiscount.com.
		

		
			 
		

		
			Last updated: 16.06.2016
		

		
			 
		

		
			1.PREAMBLE
		

		
			 
		

		
			CDISCOUNT, in its capacity of hosting site (hereinafter the “Hosting Site”) shall make available a Marketplace technical marketplace named “C le Marché”, incorporated into its internet site www.cdiscount.com (hereinafter the “Marketplace C le Marché”), through which professional sellers (hereinafter the “Sellers”) can show and sell products or services (hereinafter the “Products”), on the site www.cdiscount.com, so that consumers in metropolitan France, including Corsica and Belgium, can purchase them online (hereinafter the “Purchasers”).
		

		
			 
		

		
			In this context, the Hosting Site shall not be a contracting party to the contract of sale. As a service- provider, it merely makes available  the  Marketplace  “C  le  Marché” and  the  audience  for  the site www.cdiscount.com. In no case is it a reseller of the Products offered by Sellers on the Marketplace C le Marché.
		

		
			 
		

		
			N.B.: the service provided by the Marketplace C le Marché is also available on internet sites other than the Hosting Site. The Seller shall have the option of subscribing to the service on one or more of these other sites (hereinafter the “Other Hosting Sites”).
		

		
			 
		

		
			2.FIELD OF APPLICATION – CHANGES TO THE CONDITIONS
		

		
			 
		

		
			The present General Conditions for Making Available the Marketplace C le Marché by the Hosting Site and the appendices thereto (hereinafter “the GCMA”) are designed to govern the legal relationship between the Hosting Site and the Seller for use of the Marketplace “C le Marché” service and the marketing of its Products by the Marketplace through this service.
		

		
			 
		

		
			The Seller undertakes, for any use of the Marketplace “C le Marché” service, to familiarize himself/herself/itself and comply with the rules stipulated in the present the General Conditions of  Use of the Marketplace destined for Purchasers (hereinafter the “ GCU”), as well as any other instructions or charter of good practice published on the Hosting Site for the attention of the Sellers.
		

		
			 
		

		
			The General Conditions applicable to Sellers shall be those shown on the on the date of registration on “C le Marché”.
		

		
			 
		

		
			The Hosting Site reserves the option of making changes to the present GCMA. Sellers shall be informed of any changes via e-mail (hereinafter “the Email for Cha GCMA”, sent by the Hosting Site ten (10) working days before the amended GCMA date of entry into force. The Seller shall be free to accept the
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

amended GCMA or terminate his/her/its use of the Marketplace C le Marché service, as per the present GCMA.
		

		
			 
		

		
			By accepting the present GCMA the Seller guarantees that the conditions of sale applied to the Purchasers comply with the legal and regulatory provisions and professional charters applicable to the present GCMA and the General Conditions of Use destined for the Purchasers.
		

		
			 
		

		
			N.B.: if the Seller has subscribed to the Marketplace C le Marché service on several hosting internet sites, the closure of his/her/its Seller account will result in it being impossible for the Seller to use the Marketplace C le Marché service on the Hosting Site and on all the Other Hosting Sites to which he/she/it may have subscribed for the said service.
		

		
			 
		

		
			3.ACCEPTANCE/EXCLUSION OF THE SELLER IN THE CONTEXT OF THE “C LE MARCHE” SERVICE USER
		

		
			 
		

		
			3.1.  Registration Conditions
		

		
			 
		

		
			The following may register as Sellers on the Marketplace C le Marché:
		

		
			 
		

			
	
			
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			individuals acting in their full legal capacity and aged at least 18 years of age;

			
	
			
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			corporate entities, registered in the Register of Commerce and Companies for companies whose registered office is on French Territory and with any equivalent register for companies whose registered office is within the Territory of the European Union or outside the European Union, and acting in the context of their usual business activity, regularly declared as such with the tax and social security authorities.

		
			 
		

		
			To register with the Service, the Seller must initially complete accurately and exhaustively the application form for a “C le Marché” account. The Hosting Site reserves the right to request any supporting documentation such as, but not restricted to:
		

		
			 
		

			
	
			
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			a Kbis [company registration] extract dating that is no more than three (3) months old or equivalent registration certificate for any entity not in possession of a Kbis

			
	
			
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			Siret [tax] number

			
	
			
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			Identity card of the person or persons entitled to represent the company

			
	
			
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			Bank details for a banking institution located in one of the countries in the Single Euro Payment Area (“SEPA”)

		
			 
		

		
			The Seller undertakes to attest to the accuracy of the information provided and must notify the Hosting Site spontaneously of any change to this information.
		

		
			 
		

		
			Attention! Any Seller whose “C le Marché” account has been closed due to failure to comply with the present GCMA or the GCMA of a Different Site may not submit a new request for account opening for a period of three months following the date of closure of the account. The Hosting Site reserves the right to accept or reject any new application.
		

		
			 
		

		
			Any Seller whose “C le Marché” account was closed twice may no longer submit another request to open a “C le Marché” account.
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

3.2.  Validation of the Seller’s registration
		

		
			 
		

		
			Upon receipt of the form requesting the opening of an account, an acknowledgement of receipt of the application will be sent to the Seller, to the email address entered in the said form.
		

		
			 
		

		
			A second email will then be sent to the Seller containing an identifier as well as a temporary password so that he/she/it can access his/her/its “C le Marché” Interface to finalise his/her/its registration with the service. When the Seller gains access to his/her/its interface, he/she/it must:
		

		
			 
		

			
	
			
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			Complete the information requested accurately and exhaustively, then

			
	
			
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			select the Hosting Site and, if so desired, Other Hosting Sites on which it wishes to benefit from the Marketplace C le Marché service,

			
	
			
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			Familiarise himself/herself/itself with:

			
	
			
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			the GCMA and

			
	
			
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			GCU applicable to the Hosting Site – and, if applicable, the Other Hosting Sites –

			
	
			
				 (iv)
			

			
	
			
			and validate them. On this occasion, the Seller formalises his/her/its acceptance of the GCMA and GCU applicable to the Hosting Site, and where applicable those applicable to the Other Hosting Sites.

		
			 
		

		
			The Hosting Site reserves the option of checking the information provided by the Seller through the “C le Marché” interface and automatically deduct payment from the Seller’s bank card or debit the latter’s bank account for amount due to the Hosting Site (subscription, commission), something that the Seller acknowledges and accepts by subscribing to the Marketplace C le Marché service. The Hosting Site further reserves the option of requiring the signature of a standing order of the type used in the SEPA using the model enclosed with the present document, and the Seller acknowledges and accepts this from the outset.
		

		
			 
		

		
			At any event the Hosting Site reserves the right to validate or reject any request for registration.  Once the Seller has completed his/her/its registration, he/she/it may proceed to market his/her/its Products in the “C le Marché” Marketplace.
		

		
			 
		

		
			During the 60 (sixty) calendar days following the publication of its first (1st) offer in the Marketplace C le Marché, the Seller will be subject to a trial period and is considered as a “Seller on probation”.
		

		
			 
		

		
			The criteria for approving the Seller consisting of compliance with all of his/her/its obligations under the GCMA.
		

		
			 
		

		
			In the context of its subscription to Other Hosting Sites as applicable, the Seller shall benefit from a single interface through which to administer his/her/its catalogues and sales for all of the Other Hosting Sites.
		

		
			 
		

		
			Should, within this period, the Seller shall have failed to comply with all of the minimum levels of service stated in Appendix 1 to this document or any of his/her/its contractual obligations, the Hosting Site may proceed without prior notice to close the Seller’s “C le Marché” account. The Seller will be informed of the closure of his/her/its account via email and may make a single application solely under the conditions provided in item 3.1 “Registration Conditions”.
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

3.3.  Change to the registration
		

		
			 
		

		
			Sellers are required to notify the Hosting Site of their own accord, via their “C le Marché” Seller account, of any change to the information communicated at the time of their registration and shall be liable for any failure to comply with this obligation.
		

		
			 
		

		
			If false information was provided at the time of registration or if a Seller fails to notify of a change, the Hosting Site may proceed to lawful cancellation thereof, under the conditions indicated in item 3.7 “Sanctions in the case of failure by the Seller to meet his/her/its obligations” of this document, of the said Seller’s registration in the Marketplace C le Marché, it being specified that the current subscript shall remain due until the end of the next expiry date.
		

		
			 
		

		
			The Hosting Site reserves the right at any time to check the information provided.
		

		
			 
		

		
			3.4.  Limitation of access to the Marketplace C le Marché
		

		
			 
		

		
			The Hosting Site shall be solely entitled to determine the content, appearance, design, functionalities and all the other aspects of the Hosting Site (including the right to re-design, modify, withdraw or change any content, aspect, design, functionality and other aspects thereof), and to prohibit or restrict access to the site and to any other component, aspect, portion or characteristics thereof (including the products for sale), and to delay or suspend the placing for sale, to refuse to allow the same or to withdraw from sale and to ask the Seller to sell one or other of his/her/its Products.
		

		
			 
		

		
			In particular, as soon as the Hosting Site receives an alarm produced by any third party, it reserves the right to impose on all or part of the Sellers, restrictions on selling that could affect their cost and/or frequency, when it is necessary to protect the Sellers, the Purchasers, other Sellers, the Hosting Site and/or any third party from fraudulent, illegal or inappropriate  conduct that could cause them damage.
		

		
			 
		

		
			The Hosting Site shall not be held liable in a case in which the Hosting Site prevents a sale from being made on the Marketplace C le Marché, if it is liable to exceed the selling limit determined by the Hosting Site.
		

		
			 
		

		
			3.5.  Registration period
		

		
			 
		

		
			Sellers are allowed to register for an unlimited period.
		

		
			 
		

		
			3.6.  Cancellation/Closure of a seller’s “C le Marché” without fault
		

		
			 
		

		
			3.6.1.Cancellation at the Seller’s convenience.
		

		
			 
		

		
			A Seller may end his/her/its registration on the Marketplace C le Marché at any time, by clicking the button marked “cancel my subscription” to be found on his/her/its Seller interface.
		

		
			 
		

		
			The closure of the account in question becomes effective during the 24 hours following the request for cancellation of the subscription by the Seller.
		

		
			 
		

		
			If the button marked “cancel my subscription” that actually implements the cancellation, is not pressed the cancellation will not be taken into account (even if the Seller has sent a message asking the Hosting Site to cancel it). Consequently, the subscription costs will continue to run and any commission generated shall be due from the Seller until notification of cancellation under the conditions specified here.
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

3.6.2.Cancellation for the convenience of the Hosting Site
		

		
			 
		

		
			The Hosting Site has the option to cancel the Seller’s registration with three months’ notice starting from the date on which the Seller is sent a registered letter with acknowledgement of receipt notifying him/her/it of the cancellation.
		

		
			 
		

		
			3.6.3.Cancellation for inactivity
		

		
			 
		

		
			If the Seller becomes inactive, namely through a lack of transactions performed by the Seller over a period of one (one) year from the date of the last transaction, the Hosting Site reserve the right to suspend and/or cancel the Seller’s account through mere notification to the Seller.
		

		
			 
		

		
			3.7.  Sanctions if the Seller fails to comply with his/her/its obligations
		

		
			 
		

		
			3.7.1.Failure to comply with the levels of service
		

		
			 
		

			
	
			
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			Failure by the Seller to comply with any of the minimum levels of service minimum indicated in Appendix 1 shall result in the cancellation of the Seller’s Account following despatch of an official notification sent via email by the Hosting Site to the Seller and that has remained unproductive at the end of a period of thirty (30) calendar days.

		
			 
		

			
	
			
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			The Hosting Site reserves the right to suspend or cancel the Seller’s account immediately in the case of major failure to comply with the indictors that are the subject of the levels of service (for example: an abnormally high number of claims by Purchasers).

		
			 
		

		
			3.7.2.Other failures by the Seller to comply with his/her/its obligations
		

		
			 
		

		
			Any failure to perform or poor performance by the Seller of his/her/its obligations under the GCMA may result in the following penalties:
		

		
			 
		

			
	
			
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			The immediate, temporary or definitive retraction of litigious offers by the Seller.

			
	
			
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			The immediate or temporary suspension of the Seller’s account;

			
	
			
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			The immediate, temporary or definitive suspension of the payment of any amounts received on behalf of the Seller’s account;

			
	
			
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			the lawful cancellation of the Seller’s account, without formalities, without notice, or with notice of less than 30 days, in the case of a serious and/or repeated offence.

			
	
			
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			Cancellation of a Seller account after the deadline provided in an official notification remains unproductive for a period of 30 days.

		
			 
		

		
			3.8.  Consequences of the cancellation of the Seller’s registration:
		

		
			 
		

		
			If either of the Parties cancels and does so for any reason whatsoever, any amounts due from the Seller on the date on which the cancellation comes into effect shall become due immediately. The Seller shall lose the status of Seller and consequently:
		

		
			 
		

			
	
			
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			All of the Product offers shall be withdrawn from the Marketplace of the Hosting Site and all of the Other Hosting Sites with which it may have registered, on the date on which the cancellation came into effect,

		
			 
		

			
	
			
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			the Seller space shall become inaccessible when processing of orders still being processed on the date on which the contract was cancelled has been completed and all of the claims concerning orders placed with him/her/it via the Hosting Site or any other Site at which he/she/it may have  registered have been resolved,

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

			
	
			
				 ·
			

			
	
			
			When the Seller space becomes inaccessible, the Hosting Site reserves the right to provide the Seller’s details to a Purchaser to a new person.

		
			 
		

			
	
			
				 ·
			

			
	
			
			Unless there is a cancellation that is due to an error by the Hosting Site, the subscription fees for the month in which the cancellation occurs shall remain due in full.

		
			 
		

			
	
			
				 ·
			

			
	
			
			All of the amounts corresponding to orders and claims on the date of closure of the accounts shall be retained for a period of (three) 3 months maximum so that the Hosting Site can proceed to check the state of the Seller’s account and the partial or total reimbursement of the Purchasers, as applicable.

		
			 
		

		
			IN ALL CASES OF CLOSURE OF THE REGISTRATION OF A SELLER, AND REGARDLESS OF WHICH PART IS ON HIS/HER/ITS INITIATIVE, THE SELLER IS REQUIRED TO COMPLETE THE FULFILMENT OF ANY ORDER PLACED BY A PURCHASER THAT WAS IN PROGRESS ON THE DATE OF CLOSURE AND TO COVER HIS/HER/ITS AFTER-SALES OBLIGATIONS (LEGAL AND CONTRACTUAL) RELATING THERETO AND ESPECIALLY THE CORRECT HANDLING OF CLAIMS UNTIL THEY ARE RESOLVED.
		

		
			 
		

		
			3.9.  Effects of the cancellation or suspension of a Seller’s account on the registrations of the Seller on Other Hosting Sites:
		

		
			 
		

		
			If the Seller has subscribed to a Marketplace C le Marché service at one or more Other Hosting Sites under the conditions defined above, all of the obligations and sanctions provided in the present GCMA shall be applicable in full thereto.
		

		
			 
		

		
			In particular, the closure or suspension of his/her/its Seller account for any reason whatsoever shall make it impossible for the Seller to use the Marketplace “C le Marché” service at the Hosting Site and on all the Other Hosting Sites to which it has subscribed for such a service.
		

		
			 
		

		
			4.ROLE OF THE HOSTING SITE
		

		
			 
		

		
			4.1.The Sellers and the Hosting Site are only contractually linked to the extent that the Hosting Site makes available to Sellers, in the context of the present GCMA, a platform making it possible to perform sales.
		

		
			 
		

		
			In this respect, no contract of sale exists between the Hosting Site and the Purchaser; the contract of sale is established between the Seller and the Purchaser.
		

		
			 
		

		
			4.2.The Hosting Site is not involved in negotiation and performance of the contracts entered into between a Seller and a Purchaser in the Marketplace C le Marché and is therefore not required to intervene in any disputes that may arise between the Seller and the Purchaser.
		

		
			 
		

		
			In the interests of defending the visitors to his/her/its site and his/her/its brand image, the Hosting Site nevertheless reserves the right to intervene in the resolution of any dispute and the Seller undertakes to comply with the solution that may be found through the intervention of the Hosting Site.
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

In this respect, the Seller expressly recognises and accepts from the outset that in the case of a breach of any of the obligations under the present GCMA, such as, unrestrictedly, the absence of delivery or availability of Products, delay in delivery or availability, delivery or provision of non-compliant Products, the absence of a reply or an unsatisfactory reply, the absence of handling within a reasonable time of two (2) working days for Purchasers’ claims or any conduct that could adversely affect the Purchaser, the Hosting Site reserves the right, without the Seller being able to dispute it and depending on the case:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			either to reimburse the cost of the order to the Purchaser,

			
	
			
				 ·
			

			
	
			
			or to pay a credit note to the Seller into a deposit account,

			
	
			
				 ·
			

			
	
			
			or to refuse to make any payment to the Seller,

		
			 
		

		
			IN PARTICULAR:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			IN THE CASE OF CLAIM FROM A PURCHASER CONCERNING  A PARCEL THAT WAS NOT RECEIVED, AND WITHOUT PRESENTATION BY THE SELLER OF A PROOF OF DELIVERY FROM THE FORWARDER AND INCLUDING ELEMENTS THAT MAKE IT POSSIBLE TO IDENTIFY THE PURCHASER WITHIN THE ABOVEMENTIONED PERIOD OF SEVEN CALENDAR DAYS FOLLOWING THE REQUEST BY THE HOSTING SITE OF SUCH PROOF, THE HOSTING SITE SHALL PROCEED TO REIMBURSE THE PURCHASER AND SHALL CHARGE THE REIMBURSEMENT BACK TO THE SELLER, AS A PRIORITY BY OFFSETTING IT AGAINST ANY AMOUNT DUE OR HELD BY THE HOSTING SITE FOR THE SAID SELLER. TO THIS END IT IS UP TO THE SELLER TO ENSURE THAT IT RETAINS ALL INFORMATION ESPECIALLY THE FOLLOW-UP NUMBERS SO AS TO BE ABLE TO PROVIDE WRITTEN PROOF OF DELIVERY.

		
			 
		

			
	
			
				 ·
			

			
	
			
			IN THE CASE OF A DEMAND CONCERNING  A BREAKAGE,  THE SELLER UNDERTAKES TO CONFIRM IN WRITING TO THE PURCHASER THAT HE/SHE/IT HAS TAKEN ACCOUNT OF THE REQUESTS WITHIN A MAXIMUM PERIOD OF TWO WORKING DAYS SPECIFYING THE CONDITIONS AND THE PERIOD OF TIME REQUIRED FOR REPAIR OF THE PRODUCT WHICH MUST BE COMPLIANT WITH THE LEGISLATION. IN THE ABSENCE OF WRITTEN CONFIRMATION WITHIN THIS DEADLINE AND/OR REPAIR OF THE PRODUCT WITHIN THIRTY (30) CALENDAR DAYS FROM THE PURCHASER INDICATING THE BREAKAGE TO THE SELLER AND IF THE PURCHASER HAS NOT RECEIVED ANY REIMBURSEMENT FROM THE SELLER, THE HOSTING SITE SHALL ITSELF PROCEED TO MAKE THE REIMBURSEMENT AND SHALL CHARGE THE REIMBURSEMENT BACK AS A PRIORITY BY OFFSETTING IT AGAINST ANY AMOUNT DUE OR HELD BY THE HOSTING SITE ON BEHALF OF THE SAID SELLER.

		
			 
		

			
	
			
				 ·
			

			
	
			
			IN THE ABSENCE OF A REPLY FROM THE SELLER TO THE PURCHASER’S CLAIM WITHIN A PERIOD OF TWO WORKING  DAYS  FOLLOWING A CLAIM  MADE BY A PURCHASER, THE HOSTING SITE SHALL ARBITRATE IN FAVOUR OF THE PURCHASER AND RESERVES THE RIGHT TO PROCEED TO MAKE REIMBURSEMENT FOR THE PRODUCT AND TO CHARGE THIS REIMBURSEMENT BACK TO THE SELLER, AS A PRIORITY THROUGH OFFSETTING AGAINST ANY AMOUNT DUE OR HELD BY THE HOSTING SITE ON BEHALF OF THE SAID SELLER.

		
			 
		

			
	
			
				 ·
			

			
	
			
			IN ALL CIRCUMSTANCES, THE SELLER UNDERTAKES TO PROVIDE WRITTEN CONFIRMATION TO THE HOSTING SITE OF WHAT HE/SHE/IT HAS TAKEN INTO ACCOUNT, DEALT WITH AND SATISFACTORILY CLOSED THE CUSTOMER’S REQUEST AND HAS DONE SO IN ACCORDANCE WITH THE PROCEDURE SET UP BY THE HOSTING SITE FOR COMMUNICATIONS WITH THE PURCHASER. OTHERWISE, THE HOSTING SITE SHALL NOT BE HELD LIABLE FOR ANY REIMBURSEMENT MADE ERRONEOUSLY TO THE PURCHASER.

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

N.B.: a reply from the Seller that is designed to make the Purchaser wait or indicating that a reply will be sent to him/her within a certain time limit shall not be considered a reply within the meaning of the previous paragraph.
		

		
			 
		

		
			Any reply sent by the Seller to the Purchaser and/or any subsequent reimbursement performed directly by the Seller to the Purchaser is required to be confirmed in writing to the Hosting Site. If not, the reply or reimbursement shall be considered not to have been performed.
		

		
			 
		

		
			4.3.The Seller specifically recognises that the Hosting Site has under no circumstances the status of a reseller of the Products he/she/it offers in the Marketplace C le Marché. Consequently, the Hosting Site shall not assume:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			Any cost connected with the purchase of Products sold by the Sellers via the Marketplace C le Marché;

			
	
			
				 ·
			

			
	
			
			No cost connected with the financing of the Seller’s stock, to the loss of stock or unsold items;

			
	
			
				 ·
			

			
	
			
			No cost connected with sales promotion;

			
	
			
				 ·
			

			
	
			
			No investment specific to the Products and more widely to the Seller’s business.

		
			 
		

		
			5.ROLE OF THE SELLER
		

		
			 
		

		
			The Seller may freely decide which Products it wishes to offer on the Marketplace C le Marché and the conditions of sale thereof. The Seller shall nevertheless comply with the following obligations as well as any of the provisions of Appendix 1 especially concerning forbidden items.
		

		
			 
		

		
			5.1.  Identifier/Password:
		

		
			 
		

		
			The Seller is prohibited from stating or suggesting in the name of his/her/its shop as well as in its comments or any external hypertext, a link to the Marketplace C le Marché. The Seller’s pseudonym shall not be represented by a domain name (such as jean-pierre.com). His/her/its identifier as well as the comments accompanying his/her/its offer should not include such references as “www”, “.fr”, “.com”, “.net”, etc. Furthermore, the Seller agrees to refrain from using a shop name that could create a risk of confusion with the Hosting Site, especially by using the term “discount” in his/her/its shop name as provided in the Seller space. Should a Seller fail to comply with these conditions, the Hosting Site may suspend the C le Marché Seller’s account until the Seller makes the necessary changes. Under such circumstances, the Seller’s offers will be withdrawn from the Hosting Site and the Other Hosting Sites on which he/she/it may have registered. If the Seller refuses to make this change, the Hosting Site reserves the right to proceed to closure of the account under the conditions of the GCMA for failure to perform.
		

		
			 
		

		
			A Seller may access his/her/its account for the first time by using a temporary password of which it will be informed upon registration. It is up to the Seller to replace this password with a password of his/her/its choice upon first connection to his/her/its Seller account.
		

		
			 
		

		
			The Seller makes it possible to create a Product catalogue and manage the placing online of its Products, to validate the availability of Products for each order placed by a Purchaser, to track the dispatch of its consignments, and to review the history of the sales it has performed via the Marketplace C le Marché.
		

		
			 
		

		
			The use of this account and the password associated with it is strictly personal and restricted to the duration of the contract between the Hosting Site and the Seller.
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

Sellers shall be solely liable for the security of their identifier and password. Disclosure to a third party is not permitted. The identifier can only be used to obtain access to the Marketplace C le Marché and the services offered on it. The Seller is solely liable for all of the actions performed in its name. If unauthorised persons have learned their identifier and/or password, the Seller is required to change it/them as soon as possible.
		

		
			 
		

		
			5.2.  Conditions of sale equivalent to those implemented in the context of the Seller’s distribution network:
		

		
			 
		

		
			The Seller shall be free to decide which Products are sold at the Hosting Site via the Marketplace C le Marché excluding Products that are forbidden in application of Appendix 1.
		

		
			 
		

		
			The Seller must nevertheless implement the distribution conditions equivalent to those it implements in the context of its distribution network. The Seller must check before placing Products on sale that:
		

		
			 
		

			
	
			
				 a.
			

			
	
			
			Its customer service assured for the Products he/she/it sells via the Marketplace C le Marché is at least as reactive, as high quality and as available as the customer service he/she/it offers when he/she/it sells the same Products via any channel other than the Marketplace C le Marché;

		
			 
		

			
	
			
				 b.
			

			
	
			
			the content, product information and any other information as defined in Appendix 1 concerning the Products supplied, shall be at the same level of quality and detail at least as the information concerning the highest quality, displayed or used when it sells the same Products through any channel other than the Marketplace C le Marché.

		
			 
		

		
			5.3.  General obligations of the Seller:
		

		
			 
		

		
			The Seller undertakes:
		

		
			 
		

			
	
			
				 a.
			

			
	
			
			To process the Purchasers’ orders within forty-eight (48) working hours of their being placed

		
			 
		

			
	
			
				 b.
			

			
	
			
			To comply with the maximum preparation and delivery deadlines provided in Appendix 3

		
			 
		

			
	
			
				 c.
			

			
	
			
			To proceed to the despatch of the Products, corresponding to the effective delivery of the parcel to the forwarder, or making such Products available at a collection point in compliance with the dates indicated to Purchasers by the Seller on the Marketplace C le Marché. Any order that has not been sent or made available at a collection point on the dates indicated on the Marketplace C le Marché may be cancelled by the Hosting Site at the request of the Purchaser.

		
			 
		

			
	
			
				 d.
			

			
	
			
			To deliver the Products or have these delivered within the dates chosen by the Seller according to the various choices specified in Appendix 3

		
			 
		

			
	
			
				 e.
			

			
	
			
			To use courteous and respectful language in communications with the Purchaser

		
			 
		

			
	
			
				 f.
			

			
	
			
			To correspond with the Purchaser exclusively in French;

		
			 
		

			
	
			
				 g.
			

			
	
			
			To assume any obligation for which it is liable under the Code of Consumption, especially – without this list being restrictive – the obligation to communicate information concerning his/her/its identity, an obligation to provide pre-contractual and post-contractual information, obligations connected with the legal guarantees of   compliance and hidden

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

defects, obligations linked to right of retraction or compliance with the rules concerning unfair commercial practices;
		

		
			 
		

			
	
			
				 h.
			

			
	
			
			To draw up all of the information it publishes on the Marketplace C le Marché, whether they concern the Products, the general conditions of sale, etc., in French.

		
			 
		

			
	
			
				 i.
			

			
	
			
			Only to offer for sale on the Marketplace C le Marché Products that he/she/it has in stock and that are actually available.

		
			 
		

			
	
			
				 j.
			

			
	
			
			To reply to any query or claim from a Purchaser within 24 working hours following reception and a maximum two (2) working days after the said query or claim under the conditions stated above.

		
			 
		

		
			Furthermore, the Seller undertakes not to:
		

		
			 
		

			
	
			
				 a.
			

			
	
			
			copy, reproduce, modify, create derivative works, distribute or disclose to the public any Hosting Site content without the specific prior written consent of the Hosting Site or, as applicable, that of any third party involved;

			
	
			
				 b.
			

			
	
			
			disrupt or attempt to disrupt the smooth running of the Hosting Site or the activities taking place thereon;

			
	
			
				 c.
			

			
	
			
			circumvent the exclusion protocols of robots or any other measure used to prevent or limiter the access to the Hosting Site;

			
	
			
				 d.
			

			
	
			
			publish content or objects in inappropriate categories or domains on the Hosting Site;

			
	
			
				 e.
			

			
	
			
			be in breach of the laws, third party rights or the provisions of the present GCMA;

			
	
			
				 f.
			

			
	
			
			use the platform if he/she/it is not legally competent to sign contracts, if he/she is aged under 18 or if his/her/its account has been suspended temporarily or for an indeterminate period;

			
	
			
				 g.
			

			
	
			
			fail to deliver the items bought, unless the Purchaser does not comply with the conditions of sale or delivery or if the Seller is unable to check his/her identity;

			
	
			
				 h.
			

			
	
			
			circumvent or manipulate the structure of the commission, the invoicing process or the amounts due to the Hosting Site;

			
	
			
				 i.
			

			
	
			
			publish content that is false, erroneous, misleading or defamatory (including personal information);

			
	
			
				 j.
			

			
	
			
			transfer his/her/its “C le Marché” Seller account and identifier to a third party without the prior written consent of the Hosting Site;

			
	
			
				 k.
			

			
	
			
			fail to take security measures to protect his/her/its password;

			
	
			
				 l.
			

			
	
			
			use the platform using the identifier of another person;

			
	
			
				 m.
			

			
	
			
			distribute or publish unsolicited advertising (spam), chain e-mails or pyramid systems;

			
	
			
				 n.
			

			
	
			
			insert any correspondence, presentation or advertising in the parcels sent to Purchasers or separately from the parcels;

			
	
			
				 o.
			

			
	
			
			distribute viruses or other technologies on the Hosting Site that are liable to damage the Hosting Site or the interests or ownership of the Hosting Site users;

			
	
			
				 p.
			

			
	
			
			copy, modify or distribute content on the Hosting Site that has been taken from other sites that are protected by copyright and trademarks;

			
	
			
				 q.
			

			
	
			
			collect in any manner information about the users of the Marketplace C le Marché (especially other Sellers, Purchasers or even any other visitors), including e-mail addresses, without their consent.

			
	
			
				 r.
			

			
	
			
			mention his/her/its own internet site in any correspondence with Purchasers and not to direct a Purchaser to his/her/its own internet site nor to any third-party site, including for the purpose of providing answers to claims made by Purchasers; in general, and unless there is a prior agreement in writing to the contrary from the Hosting Site, the Seller agrees to refrain from corresponding with the Purchaser other than through his/her/its Seller Account in the Marketplace C The Marché.

		
			 
		

		
			
		

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

			
	
			
				 s.
			

			
	
			
			damage the image of the Hosting Site in any manner whatsoever, especially by making false, offensive, defamatory or libellous statements about the Hosting Site, on any medium or using any means (social networks, discussions with customers, etc.);

			
	
			
				 t.
			

			
	
			
			to perform any action or operation designed to circumvent the system for calculating the rate of service quality provided in the present GCMA;

			
	
			
				 u.
			

			
	
			
			provide untrue or incomplete information at the time of registration or subsequently, especially, and without this list being exhaustive, false identity of the Seller, false information about his/her/its company, wrong parcel tracking number, false country of despatch or any other information or omission liable to adversely affect the transparency of the transactions offered by the Seller on the Marketplace C le Marché or of such a nature as to reduce the exercise of any of the Purchasers’ legal or contractual rights, those of any public body or any third party.

		
			 
		

		
			5.4.  Licences – Copyright:
		

		
			 
		

		
			The Seller grants Hosting Site, gratis, the non-exclusive right to use, reproduce and display its trademarks and logos, and, any other graphics or texts supplied by the Seller as well as the non- exclusive rights to use, reproduce, represent, modify, adapt and create content derived therefrom and this shall be for the whole world, on any medium, for the term of protection of the copyright and for any type of usage connected with the Marketplace C le Marché and the Hosting Site.
		

		
			 
		

		
			The Seller grants the Hosting Site the right to resize the content he/she/it supplies, especially in the in which the constraints of online presentation or ergonomics make this necessary.
		

		
			 
		

		
			The Hosting Site shall supply the matrices for the product files (structure, fields, field hierarchy, etc.) and it retains exclusive ownership thereof. The Seller agrees to  refrain from reproducing these matrices for its own account or that of a third party. As long  as the wording  and/or captions incorporated by the Seller into the product files are of an original nature, the Seller shall retain ownership of the said texts. The following content, in a non-exhaustive list, is considered not to be original. The technical descriptions of the products and their appearance, the descriptions of warranties, services and/or accessories connected with the products.
		

		
			 
		

		
			Rules for placing on sale:
		

		
			 
		

		
			Small ads that do not comply with the selling procedures for the Products as enclosed herewith may result in the retraction of the small ads in question or the suspension of the Seller’s account.
		

		
			 
		

		
			During this period, the Seller shall no longer be entitled to propose the sale of its products for which the small ads are non-compliant.
		

		
			 
		

		
			In no case may the Hosting Site’s liability be challenged in this respect.
		

		
			 
		

		
			6.PAYMENT
		

		
			 
		

		
			6.1.  Product Payment by the Purchaser
		

		
			 
		

		
			The Purchaser shall pay for the Product purchased on the Hosting Site via the Marketplace C le Marché using the means of payment offered on the Hosting Site (credit or debit card accepted at the Site, payment in several instalments, etc.).
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

The Hosting Site reserves the possibility of applying charges to the Purchasers depending on the payment method chosen.
		

		
			 
		

		
			The Seller undertakes to accept the payment method chosen by the Purchaser.
		

		
			 
		

		
			Where the chosen payment method has charges applied to it by the Hosting Site, the Seller undertakes to invoice these charges to the Purchaser and forward them in full to the Hosting Site, concomitant with the payment of the commission due to the Hosting Site.
		

		
			 
		

		
			The Seller shall send an invoice to the Purchaser, either in the parcel, or through sending it to the Purchaser’s postal address, or via email.
		

		
			 
		

		
			The Seller shall not reimburse the Purchaser away from the Hosting Site. He/she/it must use his/her/its account to make all reimbursements or adjustments for sales it has made via the Marketplace C le Marché; on its order, the Hosting Site shall re-credit the Purchaser accordingly.
		

		
			 
		

		
			The Seller shall cover the cost of returning the Product in the case of a reference error for which the Seller is liable, for updating a legal guarantee of compliance, or if a Product proves to have been damaged when unpacked or for any other reason for which the law requires a Seller to cover the costs of return of an item.
		

		
			 
		

		
			The Hosting Site shall be responsible for the collection of funds paid by the Purchasers to the Seller and shall cover the costs of non-payment due to credit card fraud (i.e. fraudulent purchases due to the theft or unauthorised use of information about credit cards). The Seller, for its part, shall remain responsible for all other costs and expenses linked to such fraud such as the cost of recovering the Products.
		

		
			 
		

		
			It is nevertheless agreed that the Hosting Site shall not cover the costs of non-payment that are due to credit card fraud:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			In connection with any of the Seller’s products that were not despatched in strict compliance with the selling and despatch procedures enclosed with the present conditions;

			
	
			
				 ·
			

			
	
			
			or in any case in which the Hosting Site shall have alerted the Seller of the risk of fraud.

		
			 
		

		
			The Seller shall accept all other risks of fraud, theft or loss the cost of which is not transferred to the Hosting Site under the present GCMA.
		

		
			 
		

		
			6.2.  Repayment of the proceeds of sales to the Seller
		

		
			 
		

		
			(ii)Payments are made by the Hosting Site on the 5th, 15th and 25th  of each month, by bank transfer to a bank account in the name of the Seller as soon as a sale becomes definitive (where the right of retraction has expired and not exercised) and that it has not been the subject of any claim not resolved by the Purchaser:
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Date of despatch of orders*

					
					
						Date of invoicing

					
					
						Date of issue of payment

				
	
					
						Between 1st and 10th

					
					
						10th

					
					
						25th

				
	
					
						Between the 11th and 20th

					
					
						20th

					
					
						5th   of the following month

				
	
					
						Between 21st and 30th

					
					
						the last day of the month

					
					
						15th   of the following month

				

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

 
		

		
			*Attention: the seller undertakes that the date of despatch stated by him/her/it is the date on which the product was actually handed over to the forwarder.
		

		
			 
		

		
			The Seller shall ensure that its bank account details have been provided correctly (especially the IBAN number). If the Seller has provided incorrect bank details on its “C le Marché” account, he/she/it cannot engage the liability of the Hosting Site for non-payment of the proceeds of his/her/its sales.
		

		
			 
		

		
			(iii)Note, for the first payment, or as the result of a change to the bank account details, the date of payment shall be delayed for a maximum of 20 calendar days in relation to the dates stated above. The payments will thus be made according to the following schedule:
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Date of despatch of orders*

					
					
						Date of invoicing

					
					
						Date of issue of payment

				
	
					
						Between 1st and 10 th

					
					
						10th

					
					
						15th   of the following month

				
	
					
						Between 11 th   and 20th

					
					
						20th

					
					
						25 th of the following month

				
	
					
						Between 21 st and 30 th

					
					
						the last day of the month

					
					
						5  th of the month M+2

				

		
			 
		

		
			(iii) FURTHERMORE, SHOULD THE INFORMATION AVAILABLE AT THE HOSTING SITE, ESPECIALLY WITH RESPECT TO CLAIMS BY THE PURCHASERS, LEAD TO THE CONCLUSION THAT THE SALES ACHIEVED BY THE SELLER RISK CAUSING AN ABNORMAL NUMBER OF CLAIMS, THE HOSTING SITE RESERVES THE RIGHT TO DELAY PAYMENT OF THE AMOUNTS DUE TO THE SELLER UNTIL THE RESULT IS KNOWN OF ANY INVESTIGATION AND/OR SEARCH AND ANY CLAIMS HAVE BEEN RESOLVED IN RELATION TO THE ACTIONS AND/OR PERFORMANCE BY THE SELLER OF ITS OBLIGATIONS IN THE CONTEXT OF THIS CONTRACT.
		

		
			 
		

		
			7.AMOUNTS DUE TO THE HOSTING SITE
		

		
			 
		

		
			In addition to costs that may be liable to be paid back to the Hosting Site by the Seller in application of article 6.1 above, the amounts due to the Hosting Site are specified in Appendix 2. This price grid constitutes an integral part of the present GCMA.
		

		
			 
		

		
			Commission on sales performed that are due from the Seller to the Hosting Site fall due as soon as the Purchaser has paid the price of sale for payment in full or by the first due date for payments in several instalments.
		

		
			 
		

		
			The commission remains acquired by the Hosting Site including under circumstances in which the sale is cancelled or unpaid for any reason for which the Hosting Site is not liable.
		

		
			 
		

		
			The commission is paid back to the Seller, however, in circumstances in which the Purchaser cancels the order before despatch or exercises his/her right of retraction after delivery of the Product.
		

		
			 
		

		
			The amounts due to the Hosting Site are liable to become the subject of permanent or temporary change, especially on the occasion of events of a promotional nature (such as, days on which sales are
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

free) or the launch of new services. These changes will come into effect on the date indicated in the communication concerning the temporary promotional event or the new service at the site.
		

		
			 
		

		
			The amounts due to the Hosting Site are based on the current price list shown in Appendix 2 of this document. The amounts due to the Hosting Site applicable to a sale are those stated in the applicable price list at the time the Purchaser placed an order for the Product in question (unless an agreement constituted an exemption was entered into between the Hosting Site and the Seller).
		

		
			 
		

		
			Consequently, before entering an item for sale on the Hosting Site via the Marketplace C le Marché, each Seller must check the updated amounts of commission applicable and other amounts that may be due to the Hosting Site. All of the amounts due to the Hosting Site shall be payable immediately and the payment is deducted via offsetting – whether or not the legal conditions for offsetting are all present – by cheque or automatic deduction.
		

		
			 
		

		
			Should the Seller fail to make payment, and as long as the Hosting Site obtains an enforcement order, the Seller undertakes to reimburse Hosting Site for all of the costs resulting from the recovery of the amounts in question and it authorises the Hosting Site to debit the designated payment card or bank account for the amounts due.
		

		
			 
		

		
			Any interest applicable to the amounts paid by Purchasers between the date of payment by Purchasers and the date of payment to the Sellers shall remain acquired by the Hosting Site.
		

		
			 
		

		
			Unless stated to the contrary, all the amounts due to the Hosting Site are indicated in euros (EUR) to include all taxes. It is the Seller’s responsibility to pay all of the amounts and taxes applicable that are the result of the use of the Hosting Site and Services within the deadlines and by means of a valid method of payment.
		

		
			 
		

		
			8.OFFSETTING/ALLOCATION THROUGH CONVENTIONAL PAYMENT
		

		
			 
		

		
			Offsetting shall legally take place between the amounts due from the Seller to the Hosting Site and those due from the Hosting Site to the Seller.
		

		
			 
		

		
			Consequently, the Seller specifically agrees that offsetting the amounts due from the Seller to the Hosting Site , whether under the present GCMA or through any other commercial relationship that the Parties may maintain elsewhere, with all the amounts due from the Hosting Site to the Seller and/or any other amounts that the Hosting Site holds for and on behalf of the Seller, for whatever reason, is paid automatically and immediately.
		

		
			 
		

		
			9.SELLER’S LIABILITIES AND WARRANTIES
		

		
			 
		

		
			9.1.  Liabilities with respect to the Hosting Site and/or third parties.
		

		
			 
		

			
	
			
				 a.
			

			
	
			
			The Hosting Site cannot be held liable for disputes (especially actions for counterfeiting, forgery or passing off) concerning the information communicated by the Sellers on the Marketplace C le Marché (texts, images, photographs, trademarks, logos, etc.), if the Hosting Site has not been notified of the illicit content that has been made available on the Site.

		
			 
		

		
			Since the Hosting Site is not involved in the sale entered into between the Sellers and the Purchasers, its liability cannot be sought in case of a dispute connected with the Products and their sale and in particular involving a Purchaser or an administration.
		

		
			 
		

		
			
		

		
			

		 

 

		

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Sellers shall be solely liable for damages and liability, whether direct or indirect, material or non- material, caused to Purchasers and to any other third party due to the content they place on line on t the Marketplace C le Marché, Products and Services they offer thereon and the sales they enter into therein. Consequently, the Sellers waive the right to involve the liability of the Hosting Site in the case of a legal action or litigation (especially for counterfeiting, forgery or passing off or for an attack on distribution network, legal action by a Purchaser, an administration, etc.) concerning the information communicated by the Sellers on the Marketplace C le Marché (text, images, photographs, trademarks, logos, etc.) concerning the Products or the sale thereof.
		

		
			 
		

			
	
			
				 b.
			

			
	
			
			Most of the information contained on the Hosting Site is updated in realtime and is protected by intellectual property rights or these are assigned by the users or by a third party through a licence. The Seller acknowledges and agrees not to use a robot, spider, scraper or any other automated process to access the Hosting Site for any reason whatsoever, without the express, prior and written consent of the Hosting Site, otherwise it will be held liable in respect of the Hosting Site.

		
			 
		

		
			9.2.  Warranties by the Seller
		

		
			 
		

		
			a.Against the actions of third parties other than the Purchasers
		

		
			 
		

		
			The Seller declares and warrants to the Hosting Site:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			That he/she/it is the owner of the intellectual and/or industrial property rights that enable it to make available the information communicated (text, images, photographs, trademarks, logos, etc.) to the Hosting Site, to publish them on the Marketplace C le Marché and the latter are not liable to harm any third-party rights throughout the world and do not constitute, in whole or in part, counterfeiting, forgery or passing off nor unfair competition;

			
	
			
				 ·
			

			
	
			
			That he/she/it is the owner of the rights necessary for the sale of the Products via the Marketplace C le Marché and that these Products do not infringe any third-party rights throughout the world, and especially their sale in the Marketplace C le Marché does not harm a selective or exclusive distribution network and they do not wholly or partially constitute counterfeiting, forgery or passing off nor unfair competition.

		
			 
		

		
			If all or part of the Product or the content provided by the Seller becomes the subject of a dispute, claim or legal action by a third party for counterfeiting, forgery or passing off or is in breach of any other third-party right, the Seller undertakes to inform the Hosting Site accordingly in writing and without delay.
		

		
			 
		

		
			The Hosting Site reserves the right to withdraw the Product or the Seller’s content as soon as it receives written notification informing it of the potentially fraudulent nature or otherwise prejudicial nature for a third party of the said Product or content. At any event, the Seller undertakes to provide a reply to any third party availing itself of a breach of its rights within eight days and to resolve any dispute resulting from this incident as soon as possible and at the latest within one month of the date of communication of the claim by the Hosting Site or within one month from the claim when this is addressed directly to the Seller. The Seller shall maintain the Hosting Site company and its administrators free of any costs they may be required to pay for the defence of their interests and for compensation to a third party for a transaction or legal decision.
		

		
			 
		

		
			b.Against the actions of third parties having the legal status of Purchasers
		

		
			 
		

		
			The Seller acknowledges that the Hosting Site is not a party to the sales into which he/she/it enters with the Purchasers on the Marketplace C le Marché. Consequently, the Seller shall keep the Hosting Site and its administrators free of any costs that it may be required to commit for the defence of its
		

		
			 
		

		
			
		

		
			

		 

 

		

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interests and  to compensate any Purchaser under an amicable agreement, settlement or court judgment.
		

		
			 
		

		
			10.PROTECTION OF PERSONAL DATA
		

		
			 
		

		
			10.1.  The Sellers have been explicitly informed by the Hosting Site, of the nature, extent and finality of the collection, processing and use of the data of a personal nature needed for their registration the extent and outcome of the collection, processing and use of the data of a personal nature necessary for their registration and the performance of the operations.
		

		
			 
		

		
			The Sellers specifically accept the collection, processing and use of the data of a personal nature. In particular, such data may be disclosed to the partners of the Hosting Site for canvassing purposes via email, post or telephone.
		

		
			 
		

		
			The Seller may consult and change his/her/its data at any time and may object to such disclosure by writing, with proof of identity, to:
		

		
			 
		

		
			Cdiscount.com/SGPN 
		

		
			PB 90200
		

		
			93472 Neuilly sur Marne
		

		
			 
		

		
			It is possible to be reimbursed for the stamp used to exercise the aforementioned rights when so requested in the letter. Reimbursement will be based on current prices, to the order of one stamp per envelope.
		

		
			 
		

		
			10.2.  In the absence of express permission, the Sellers undertake not to use, in any form whatsoever, the data concerning other Sellers or Purchasers who can be consulted at the site or of which they become aware by using the Marketplace C le Marché, unless such usage is used to engage in and complete sales via the Marketplace C le Marché.
		

		
			 
		

		
			In particular, it is forbidden to use this information for advertising purposes and/or for unsolicited e- mails, unless the recipient of such e-mails gives prior consent, or for other means of contact that are undesirable or are for other illegal purposes.
		

		
			 
		

		
			10.3.  The Seller acknowledges  and accepts that when he/she/it places an item for sale on the Marketplace C le Marché site, his/her/its personal information, especially his/her/its surname and first name and his/her/its first name if it is chosen as the name of the shop, shall be posted on the Hosting Site and shall thus be visible by any potential Purchaser.
		

		
			 
		

		
			10.4.  The Hosting Site reserves the right, in the case of the presumption of a reprehensible act, to communicate the data to the Seller in question (for example, contacts, IP address and information about his/her consultation of the site and content published) to the co-contractor, other third parties or the competent investigation authorities.
		

		
			 
		

		
			10.5.  With respect to Purchasers, the Seller shall only have access to the information that is strictly necessary for the fulfilment of orders. He/she/it undertakes to ensure the confidentiality and integrity of this data, especially by the setting up of any physical and logical means that is sufficient to ensure the security of the data.
		

		
			 
		

		
			It agrees to refrain from using Purchasers’ data for purposes other than the fulfilment of the orders.
		

		
			 
		

		
			
		

		
			

		 

 

		

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11.LIABILITY OF THE HOSTING SITE
		

		
			 
		

		
			The Hosting Site shall implement all of the resources available to it to ensure the performance of the services that are the subject of the present Conditions but does not guarantee that the Hosting Site, including the Marketplace C le Marché and the services associated therewith, shall be permanently available.
		

		
			 
		

		
			The Hosting Site shall not be responsible for information concerning the Product that is the subject f the sale, especially the veracity, accuracy and completeness of the description thereof.
		

		
			 
		

		
			The Hosting Site shall be liable for any direct and foreseeable damage within the limits of the selling price that is the subject of the dispute.
		

		
			 
		

		
			Under no circumstance may the Hosting Site be held liable for any indirect damage such as loss of earnings or profit, losses or alterations to data, damage to the image, etc.
		

		
			 
		

		
			The above liability restriction shall be inapplicable:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			In the case of dishonesty or gross negligence by the Hosting Site;

			
	
			
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			In the case of corporeal damage, claims based on liability due to defective products;

			
	
			
				 ·
			

			
	
			
			Due to the Purchasers.

		
			 
		

		
			 
		

		
			12.PARTICULARITIES  OF  ORDERS  DESPATCHED  AND  DELIVERED VIA  THE  “C  LOGISTIQUE” SERVICE
		

		
			 
		

		
			Certain provisions of the present GCMA shall not be applicable to a Seller who has subscribed to the C Logistique service.
		

		
			 
		

		
			The exemptions to the present GCMA are specifically provided for in the C Logistique contract.
		

		
			 
		

		
			13.FINAL PROVISIONS
		

		
			 
		

		
			13.1.Independence
		

		
			 
		

		
			The Hosting Site and the Seller shall under no circumstances be considered as associates/partners in a shared enterprise of any kind.
		

		
			 
		

		
			The Seller shall exercise its in the Marketplace C le Marché in complete independence and at its own risk.
		

		
			 
		

		
			The Hosting Site draws the Seller’s attention to the fact that:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			the Marketplace C le Marché benefits from high netsurfer traffic. The significance of this traffic is liable to have a material impact on the Seller’s business.

			
	
			
				 ·
			

			
	
			
			The Seller must ensure that it remains capable of meeting its legal and contractual obligations, especially with respect to the quality of service stated in Appendix 1, and it is fully aware that failure to comply with these obligations could result in the closure of his/her/its account under the conditions of the present GCMA.

		
			
		

		
			

		 

 

		

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			Consequently:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			The Seller shall at all times ensure that its offers are adequately stocked and that he/she/it is capable of processing the orders it receives, in order to ensure compliance with his/her/its legal and contractual obligations as Seller.

		
			 
		

			
	
			
				 ·
			

			
	
			
			The Seller being solely responsible for its activity in the Marketplace C le Marché, both prior to sales (especially the choice of offers placed on line and the volume of business generated) and thereafter (especially compliance with the delivery deadlines and processing customer requests), the Hosting Site shall not be held liable for the commercial success or lack thereof or any situation of economic dependency.

		
			 
		

			
	
			
				 ·
			

			
	
			
			Since the Hosting Site is not involved in the management of the Seller’s volume of business in the Marketplace “C le Marché”, it is up to the Seller to balance the volume of business it does on the Marketplace “C le Marché” in relation to its overall activity. The strategic choice made by the Seller in depriving itself of an alternative, of placing itself in a situation of economic dependency, shall therefore be made consciously and at its own risk; the Hosting Site’s liability shall not be sought in this respect.

		
			 
		

		
			13.2.Transfer
		

		
			 
		

		
			The Seller may not assign its rights and obligations as defined in the present document to any third party, in any form whatsoever, and especially by taking a holding in a company, sale of the goodwill, management lease or assignment of the contract, unless the Hosting Site has specifically given its prior written consent.
		

		
			 
		

		
			13.3.Dissociation
		

		
			 
		

		
			Any clause herein that is declared null and void or illegal by a competent judge shall be deprived of its effect, but its nullity shall not adversely affect any other stipulations nor affect the validity of the present GCMA as a whole or their effects in law.
		

		
			 
		

		
			13.4.Non-waiver – tolerance
		

		
			 
		

		
			The fact that the Hosting Site has not required the application of a provision of any kind to be found in the present GCMA or that it may have tolerated a failure to perform by the Seller in the context of its activities in the Marketplace, whether permanently or temporarily, shall in no case be considered as a waiver of the rights of the Hosting Site to avail itself thereof.
		

		
			 
		

		
			13.5.Force majeure
		

		
			 
		

		
			The Parties shall not be held liable or considered to have failed to meet the requirements of the present GCMA, in the case of any delay or failure to perform where the cause of the delay or failure to perform is connected to a case of force majeure, as defined by French case law.
		

		
			 
		

		
			13.6.Notifications
		

		
			 
		

		
			Excluding a case in which the GCMA provides for a special formulation to be used for notifications, any notification may be made via e-mail to the address indicated by the Hosting Site on the Marketplace C
		

		
			 
		

		
			
		

		
			

		 

 

		

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le Marché or sent in writing to the following address: C le Marché /, 120-126 Quai de Bacalan CS 11584, 33067 Bordeaux Cedex
		

		
			 
		

		
			13.7.Litigation
		

		
			 
		

		
			The present GCMA are subject to French law, without prejudice, to the benefit of Purchasers, to the essential provisions applicable thereto.
		

		
			 
		

		
			ANY DISPUTE THAT MAY ARISE BETWEEN A SELLER AND THE HOSTING SITE IN CONNECTION WITH THE PRESENT GCMA SHALL BE SUBJECT TO THE COMPETENCE OF THE COURTS WITHIN THE JURISDICTION OF THE BORDEAUX COURT OF APPEAL EVEN IN A CASE OF A PLURALITY OF DEFENDANTS, A CALL UPON THE WARRANTY, EMERGENCY PROCEEDINGS OR A MOTION OR APPLICATION TO THE COURT.
		

		
			 
		

		
			 
		

			
					
						 

					
						 

					
						 

				
	
					
						 

					
						 

					
						APPENDIX 1 – PROCEDURES FOR SELLING THE SELLER’S PRODUCTS

					
						 

					
						 

				

		
			 
		

		
			The General Conditions of Availability on the Marketplace C le Marché, especially the present Appendix 1, shall govern the procedure for placement of the Products by the Seller for sale on the Hosting Site via the Marketplace “C le Marché”, compliance with which makes it possible to guarantee the trust and satisfaction of Purchasers as well as the security and good progress of sales on the site.
		

		
			 
		

		
			In order to guarantee the quality of the “customer experience” of Purchasers when they make their purchases, the Hosting Site ensures the monitoring of several quality of service indicators detailed hereunder. All of the deadlines on which the quality of service indicators are calculated are performed in calendar days.
		

		
			 
		

		
			All indicators are calculated daily within the periods defined as follows:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			“Rate 1” = activity from the last sixty (60) days

			
	
			
				 ·
			

			
	
			
			“Rate 2” = activity from the last thirty (30) days

		
			 
		

		
			The calculation terms are detailed in Articles A3 “Expected level of service with respect to product availability”, B2 “Expected levels of service in respect of delivery” and D2 “Expected level of service in the matter of claims”.
		

		
			 
		

		
			The Seller shall be made aware of the daily situation on his/her/its C le Marché interface at Rate 1.
		

		
			 
		

		
			As soon as Rate 1 communicated to it is less than the minimum level of service defined below, the Seller undertakes to spontaneously implement any action that may enable it to regain the expected level of service.
		

		
			 
		

		
			At any event, if Rate 1 is insufficient, the Hosting Site may give notice or lawfully cancel the Seller’s registration under the conditions provided in the GCMA.
		

		
			 
		

		
			If formal notice is given, at the end of the correction period provided  under  the  article entitled “Penalties in cases of non-compliance with his/her/its obligations by the Seller” with the GCMA, the Hosting Site shall subsequently calculate a Rate 2, at the end of the said correction period,
		

		
			 
		

		
			
		

		
			

		 

 

		

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so as to be able to assess the result of the actions taken by the Seller to bring its effective rate to the expected level of service level and whether it is appropriate to cancel his/her/its registration.
		

		
			 
		

		
			At any event, if Rate 2 does not meet the levels of service defined below, the Hosting Site may lawfully cancel the Seller’s registration under the conditions provided in the GCMA.
		

		
			 
		

		
			N.B.: When a Seller has subscribed to a service on Marketplace C le Marché on this Hosting Site as well as other Hosting Sites, the levels of quality of service are measured on the basis of all of the sales performed by the Seller on the Hosting Site as well as on the whole of the Other Hosting Sites. The Seller thus obtains a unique measurement of each level of quality of service.
		

		
			 
		

		
			The Hosting Site reserves the option, however, of subsequently setting up measurements of quality of service levels that are specific to its site.
		

		
			 
		

		
			In such circumstances, the Hosting Site shall inform the Seller accordingly under the conditions provided for in the present GCMA.
		

		
			 
		

		
			A.Items offered for sale:
		

		
			 
		

		
			A1. The Seller guarantees that it is entitled to sell the items offered, that these items are not subject to third party rights that might prevent the sale thereof, that the Products are permitted for remote selling and that they comply with the applicable legislative provisions, that in particular they do not infringe any copyright, trademark rights, a selective or exclusive distribution network or any other third-party rights, that they are reliable and comply with legal requirements (including any marking or labelling requirement), especially with respect to product safety (for example, EU standards).
		

		
			 
		

		
			A2. Prohibited items: in particular, the following items – quoted as an example and not restricted to this list – may not, or only in the context of strict restrictions, be offered for sale:
		

			
	
			
				 a)
			

			
	
			
			items for which the advertising, offer, marketing or sale adversely affects intellectual property rights (copyright, royalties and similar rights), industrial property rights (trademarks, patents, designs and models) and any other applicable right (especially rights to the image, rights to respect for privacy, right of the personality);

			
	
			
				 b)
			

			
	
			
			items that are discriminatory or that incite to violence (including weapons in categories A to D as defined by law, toys and replicas of weapons, etc.), or to racial, religious or ethnic hatred;

			
	
			
				 c)
			

			
	
			
			live animals;

			
	
			
				 d)
			

			
	
			
			stolen goods;

			
	
			
				 e)
			

			
	
			
			advertising, including in the form of links;

			
	
			
				 f)
			

			
	
			
			medication, drugs of any kind, items liable to encourage the use of drugs or substances presented as having the same effects as substances or plants classified as drugs;

			
	
			
				 g)
			

			
	
			
			items liable to present a danger to health, safety or the environment;

			
	
			
				 h)
			

			
	
			
			other items that can be neither offered nor marketed legally, or for which the offer or sale are liable to harm public policy, morality or the rights of other Sellers or third parties

			
	
			
				 i)
			

			
	
			
			Products of an erotic or pornographic nature.

		
			 
		

		
			Availability of Products placed on sale: The Seller undertakes that all of the Products that it places on line on the Marketplace C le Marché are in stock and immediately available for sale. In this respect, the Seller undertakes to update its stock in real time and withdraw from “C le Marché” any Product that has become unavailable.
		

		
			 
		

		
			
		

		
			

		 

 

		

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The Marketplace C le Marché information system will automatically block the placing on line of any Product for which the Seller indicates an absence of stock on the Hosting Site and on any other Site as applicable.
		

		
			 
		

		
			A3. Expected level of service with respect to product availability 
		

		
			 
		

		
			The Seller undertakes to comply with a:
		

		
			 
		

		
			(i)rate “of acceptance of orders” equal to or greater than 95% calculated as follows:
		

		
			 
		

		
			[total number of Products ordered by Purchasers and accepted by the Seller/total number of Products transmitted for acceptance to the Seller by the Hosting Site*] x 100
		

		
			 
		

		
			This rate is calculated for Rate 1 or Rate 2 over the abovementioned periods.
		

		
			 
		

		
			If there is no response from the Seller within two days following transmission of the order to the Seller, it is automatically cancelled which shall have the equivalent impact on the abovementioned rate.
		

		
			 
		

		
			(ii)rate “of dispatch of Products” equal to or greater than 95% calculated as follows:
		

		
			 
		

		
			[total number of Products dispatched by the Seller/total number of Products accepted by the Seller for the Hosting Site * by the Seller)] x 100
		

		
			 
		

		
			This rate is calculated for Rate 1 or Rate 2 over the abovementioned periods.
		

		
			 
		

		
			If there is no response from the Seller within two days following transmission of the order to the Seller, it is automatically cancelled which shall have the equivalent impact on the abovementioned rate.
		

		
			 
		

		
			A4. Description of Product offered for sale: The Seller undertakes to describe as exactly and precisely as possible the Product that he/she/it is placing online on the Marketplace C le Marché, in accordance with the regulations that may be applicable (especially regulations relating to home electrical and food products, etc.), the provisions of the present GCMA and the indications shown on the Seller C le Marché interface.
		

		
			 
		

		
			The Seller shall supply each of his/her/its Products, in the format required by the Hosting Site, with compulsory minimum of information, correct and complete, as well as any useful update so that the information communicated is accurate and complete at all times.
		

		
			 
		

		
			The Seller shall also supply photographs of the Product in the format required by the Hosting Site. It shall ensure that no logo other than that of the brand of the Product, no name, no URL address, etc... shall be shown on the photographs he/she/it publishes on the Marketplace C le Marché. Should one or more photographs not match the format indicated by the Hosting Site or contain one or more of the statements abovementioned, the Hosting Site shall proceed to remove the Seller’s offer from the Hosting Site and any Other Site to which the Seller shall have subscribed through the Marketplace C le Marché service, without prejudice to any other action or penalty provided in the GCMA.
		

		
			 
		

		
			The Hosting Site warns the Seller of the fact that the compulsory minimum information required of him/her/it only constitutes a minimum for the Product to be identifiable and that it is up to the Seller
		

		
			 
		

		
			
		

		
			

		 

 

		

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to provide and place on line any additional information needed for compliance with the previous paragraphs.
		

		
			 
		

		
			For each of the Products the seller place online at the Marketplace C le Marché, he/she/it undertakes to:
		

		
			 
		

			
	
			
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			Check the accuracy of the terms in the product file to which the Product refers, check in particular all of the information of which the product file consists (caption, name and brand of the Product. Etc.);

			
	
			
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			Check that the features of the Product (including packaging), the offer as well as the sales procedures comply with all current legislation (including the branding and labelling requirements).

			
	
			
				 ·
			

			
	
			
			Update the information conveyed in the Product files especially with respect to changes to the regulations applicable to the Seller

			
	
			
				 ·
			

			
	
			
			Ensure that the Products for sale do not adversely affect any third party rights, public policy or morality and are not of a pornographic or suggestive nature.

		
			 
		

		
			The Hosting Site reserves the right to remove any content that does not comply with these directives and any offer or associated product file.
		

		
			 
		

		
			The Seller shall not have the right to provide any information about any Product for which the sale is prohibited or seek to place it for sale in the Marketplace C le Marché, nor provide a URL link to be used or to request that such links be used on the Hosting Site.
		

		
			 
		

		
			A5 When stating the selling price, the Seller is required to indicate the cost of despatch that it intends to apply to the Purchaser. The Seller undertakes to calculate and include in its price any customs duty and import or export costs, duty or other direct or indirect taxes imposed by the competent authorities and connected with the contract of sale. The Hosting Site’s liability may not be incurred in this respect.
		

		
			 
		

		
			B.Despatch and delivery of the order
		

		
			 
		

		
			B1. Tracking. After concluding a contract of sale, the Seller undertakes to deliver the Product that is the subject of the sale and transfer ownership to the Purchaser.
		

		
			 
		

		
			The Seller shall be required to deliver the Product to the address indicated by the Purchaser in the conditions provided in Appendix 3 of the present GCMA.
		

		
			 
		

		
			As soon as he/she/it shall have proceeded to the despatch or making available at a collection point for the Product, the Seller shall confirm this to the Hosting Site via his/her/its Seller account, through the standard communications functions of the Seller account, and provide the data for tracking the parcel in the case of deliveries in tracking and recorded delivery mode directly on the order form. The Seller is required to complete a link or valid tracking number.
		

		
			 
		

		
			The Hosting Site shall relay this information to the Purchaser. Note that repayment to the Seller of funds collected by the Hosting Site from the Purchaser as provided for in article 6.2 “Repayment of the proceeds of sales to the Seller” of the present GCMA, may only be performed once the despatch or availability of the Products has been confirmed by the Seller.
		

		
			 
		

		
			In the absence of receipt by the Hosting Site of confirmation of the despatch of the Products on the maximum delivery date stated to the Purchaser when taking the order, the said order shall be automatically cancelled by the Hosting Site and the amount thereof reimbursed to the Purchaser.
		

		
			 
		

		
			
		

		
			

		 

 

		

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Any consignment despatched by the Seller after this deadline may in no case constitute the subject of a repayment via the Hosting Site of the amount of an order despatched after the deadline.
		

		
			 
		

		
			The Seller expressly acknowledges being solely liable for checking the status of his/her/its order (the order, once cancelled, being in the “Rejected” or “Cancelled” category), before the despatch thereof: he/she/it may not claim any compensation from the Hosting Site for an order having a cancelled or rejected status, such despatch being performed on the sole initiative of the Seller and on its entire liability.
		

		
			 
		

		
			B2. Expected levels of service in respect of delivery
		

		
			 
		

		
			The Seller undertakes to comply with a rate for “compliance with delivery dates” equal or greater than 95% calculated as follows:
		

		
			 
		

		
			[Total of orders despatched before the maximum delivery date stated to the Purchaser when the order is placed/{Total orders despatched} + {total orders not despatched for which the maximum date of delivery stated to the Purchaser when placing his/her order is exceeded}] x100
		

		
			 
		

		
			This rate is calculated for Rate 1 or Rate 2 over the abovementioned periods.
		

		
			 
		

		
			As soon as Rate 1 of which it is informed drops below the minimum level of service abovementioned, the Seller undertakes to implement spontaneously any action required in order to once again reach the minimum level of service.
		

		
			 
		

		
			At any event, if Rate 1 falls below the minimum level of service abovementioned, the Seller’s registration on “C le Marché” may be lawfully cancelled under the conditions provided in the article entitled “Penalties in cases of non-compliance with his/her/its obligations by the Seller” in the GCMA.
		

		
			 
		

		
			In this respect, once the period of one month for correction allowed by the abovementioned official notification, the Hosting Site shall calculate a Rate 2 accordingly, corresponding to the effective rate of “despatch of orders prior to the maximum delivery date indicated to the Purchaser when it placed an order on the Hosting Site*” at the end of the said period allowed for correction, in order to be able to assess the result of actions performed by the Seller to bring its effective rate up to the minimum level of service minimal and if necessary cancel its registration:
		

		
			 
		

		
			Rate 2 = [{Total orders despatched in the course of the previous 30 days before the maximum delivery date stated to the Purchaser when placing the order} / [{Total orders despatched during the previous 30 days} + {total orders not despatched  during the previous 30 days and orders during the previous 30 days for which the maximum delivery date stated to the Purchaser when he/she placed the order has been exceeded}] x100
		

		
			 
		

		
			C.Payment by the Purchaser
		

		
			 
		

		
			The Purchaser shall pay the purchase price of the Product, as well as any associated costs (especially, where applicable, the cost of carriage from the Hosting Site which collects the funds on behalf of the Seller. Payment may only be made via bank card.
		

		
			 
		

		
			D.Seller’s Guarantee
		

		
			 
		

		
			
		

		
			

		 

 

		

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D1. Procedures
		

		
			 
		

		
			Unless the Seller has subscribed to the C Logistique service, he/she/it is liable for: any error in despatch, delay in delivery, lack of delivery or partial delivery, wrong delivery, theft or error or action connected with the management and delivery of its Products.
		

		
			 
		

		
			The Seller shall be solely liable for all of the information it places on line (without this list being exhaustive: visuals of the Products, descriptions of the Products, prices of the Products, cost of carriage, special offers, information concerning the delivery or collection of a product, about the guarantees, etc.). Any non-compliance of the Products especially of information placed on line by the Seller and all the applicable standards (labelling, security, etc.), any fault, or any recall of any of the Products. As soon as the Seller becomes aware of a recall of any of its Products, it shall immediately inform the Hosting Site accordingly.
		

		
			 
		

		
			The Seller shall deal, without the intervention of the Hosting Site, with any disputes that may arise connected with the information placed on line and/or the sales he/she/it makes. The Hosting Site advises Sellers to cooperate with the Purchaser if a dispute arises and to jointly seek an amicable solution. The Hosting Site shall not be required to intervene in a dispute between Sellers or require that they comply with the present GCMA.
		

		
			 
		

		
			In the interest of protecting visitors to its site and its brand image, the Hosting Site nevertheless reserves the right to intervene in the resolution of any dispute that is not resolved within a period of three (3) working days.
		

		
			 
		

		
			The Hosting Site reserves the right to claim damages with interest from the Seller if, due to unsatisfactory performance of the contract of sale, the Hosting Site is required to compensate the Purchaser in any manner whatsoever.
		

		
			 
		

		
			The Seller undertakes to accept any request for retraction formulated by the Purchasers in compliance with article L. 121-21 of the Code of Consumption and especially to inform the Purchasers without delay of a return address. The Hosting Site shall itself proceed to reimburse the Purchaser. The Seller shall reimburse the Hosting Site without delay for reimbursements  thus made in favour of the Purchasers, it being specified that the Hosting Site may compensate these reimbursements with any amount that it owes to the Seller (whether or not the legal conditions for compensation are present).
		

		
			 
		

		
			D2. Expected level of service in the matter of claims
		

		
			 
		

		
			The Seller undertakes to comply with a maximum rate for “orders with claims” made on the Hosting Site equal or less than 5% calculated as follows:
		

		
			 
		

		
			[Total number of claims recorded against the Seller in the various sections of the Hosting Site*/total number of orders accepted by the Seller] x100
		

		
			 
		

		
			This rate is calculated for Rate 1 or Rate 2 over the abovementioned periods.
		

		
			 
		

		
			Note: a “Claim” for the present purposes shall be taken to mean any manifestation of dissatisfaction by a Purchaser, especially, and without this list being restrictive, demands of Purchasers concerning an error in the reference for the Product delivered, a missing Product or accessory, a Product that does not match its description, a Product that is not working, a Product not despatched, an order despatched but not received by the Purchaser, a damaged Product. Only three categories of requests are exclusively excluded, requests for information about the Product, any request for changes to the Purchaser’s personal details or a request for an invoice.
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

E.Product categories
		

		
			 
		

		
			The Hosting Site shall present the Seller’s Products classified in the corresponding product categories at Hosting Site, among its own products and Products offered by Sellers registered on the Marketplace C le Marché. The Hosting Site shall alone determine the procedures and conditions for presentation and promotion of Products.
		

		
			 
		

		
			The Hosting Site reserves the right, at its sole discretion, to restrict access to selling in selected categories at any time.
		

		
			 
		

		
			F.Evaluation
		

		
			 
		

		
			The Hosting Site may implement mechanisms that will enable Purchasers to assess  the Seller’s Products and/or performance, and these assessments may be made available to the public on the Hosting Site on which the sale was performed and at any Other Site on which the Seller may have registered for the Marketplace C le Marché service.
		

		
			 
		

		
			The following criteria shall be taken into account to assess the performance of Sellers:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			The rate and time taken to accept orders;

			
	
			
				 ·
			

			
	
			
			The rate of despatch within the deadlines provided in the present GCMA;

			
	
			
				 ·
			

			
	
			
			The number of positive/negative/neutral assessments received;

			
	
			
				 ·
			

			
	
			
			Detailed assessments of the Seller;

			
	
			
				 ·
			

			
	
			
			The number of disputes closed in favour of the Purchaser for an item not received or an item received that  did not match its description at all;

			
	
			
				 ·
			

			
	
			
			The number of disputes that resulted in compensation for the Purchaser.

		
			 
		

		
			G.Carriage
		

		
			 
		

		
			The Seller is responsible for delivering the Product. Consequently, it is up to the Seller alone to determine the cost of despatch.
		

		
			 
		

		
			In the case of offers for immediate collection by the Seller, no delivery charge is applied, since the products are directly available at the collection point.
		

		
			 
		

		
			H.Credit Card Fraud
		

		
			 
		

		
			Unless there is a stipulation to the contrary, the Hosting Site shall cover bad debts resulting from credit card fraud as indicated in article 6.1 of the GCMA.
		

		
			 
		

		
			In this context, and in order to prevent such fraud, the Seller acknowledges and accepts that the Hosting Site, at its sole discretion, may retain for examination, refuse to handle, restrict the despatch destinations, stop and/or cancel any of the sales performed by the Seller. The Seller may assign the reimbursement to any Purchaser at the Hosting Site who shall make the corresponding replay to the Purchasers in question. Assuming that the bad debt is covered by the Hosting Site in application of article 6.1 of the GCMA, the Hosting Site shall compensate the Seller to the amount of reimbursement realised by the latter to the benefit of the Purchaser.
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

 
		

		
			I.Sales and Deliveries
		

		
			 
		

		
			The Seller undertakes to:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			sell and deliver its Products, in compliance with its legal and contractual obligations and its own conditions of sale that it places online at the Marketplace “C le Marché”.

			
	
			
				 ·
			

			
	
			
			not to unilaterally cancel Sales;

			
	
			
				 ·
			

			
	
			
			cancel and reimburse an order if the Purchaser exercises his/her right of retraction as covered in the General Conditions of Use of the Marketplace C le Marché destined for Purchasers;

			
	
			
				 ·
			

			
	
			
			supply the Hosting Site through its C le Marché interface with information concerning the stage of processing the order and the despatch (including monitoring it as soon as this is made possible through the despatch method used), by using the procedure indicated by the Hosting Site;

			
	
			
				 ·
			

			
	
			
			including a delivery note specific to the order with each despatch of Products;

			
	
			
				 ·
			

			
	
			
			identify itself as the Seller of the Product on all packing notes or other information inserted into the Products and as the addressee to whom the Purchaser may return the Product in question;

			
	
			
				 ·
			

			
	
			
			to only use the Seller interface for all correspondence with the Purchasers and not to communicate with the Purchasers via any written or electronic correspondence.

		
			 
		

		
			J.Returns and reimbursements
		

		
			 
		

		
			The Seller undertakes to accept returns, repairs, exchanges and reimbursements for its Products in accordance with the legal and contractual warranties attached to its Products, under the present General Conditions and the General Conditions of Use of the Marketplace C le Marché destined for Purchasers as well as any other rules online at “C le Marché” at the time the order was placed by the Purchaser. In particular, the Seller agrees to refrain from demanding any cancellation, return, retraction etc. charge from the Purchaser in order to comply with the legislation and the Hosting Site’s policy in terms of customer satisfaction and experience.
		

		
			 
		

		
			The Seller shall inform the Hosting Site as soon as possible of any event affecting the order (cancellation, reimbursements), specifying the Products concerned.
		

		
			 
		

		
			The Seller shall proceed to reimburse the Purchaser through its Seller interface.
		

		
			 
		

		
			In addition to the legal rules applicable concerning the right of retraction and the legal guarantees for the products provided in the Code of Consumption and the Civil Code, the Seller shall pay special attention to the following cases in which it becomes involved in accordance with its legal obligations to reimburse the Purchaser for the cost of sending back the Products:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			Delivery or making available a product different from the Product ordered (reference error);

			
	
			
				 ·
			

			
	
			
			Delivery or making available a damaged Product;

			
	
			
				 ·
			

			
	
			
			Product stopped working within six months of receipt thereof.

		
			 
		

		
			In the above cases the Seller undertakes unreservedly and unconditionally, either to:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			replacer the item

			
	
			
				 ·
			

			
	
			
			repair it

			
	
			
				 ·
			

			
	
			
			offer a price reduction for the item or total reimbursement if the Purchaser wishes to cancel the contract of sale

		
			 
		

		
			The Seller undertakes to deal with after sales service requests in the context of the warranty even if the sales agreement is no longer active.
		

		
			 
		

		
			Reimbursements shall in no case take place more than ten (10) days after a request for reimbursement by the Purchaser or cancellation of the order.
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

In the case of absence of reimbursement or repeated and unjustified delays in reimbursement, the Hosting Site shall have the option of terminating the Seller’s registration on the Marketplace C le Marché in accordance with the GCMA or to apply any of the penalties provided for in the present GCMA.
		

		
			 
		

			
					
						 

					
						 

					
						 

				
	
					
						 

					
						 

					
						APPENDIX 2 – AMOUNTS DUE TO THE HOSTING SITE

					
						 

					
						 

				

		
			 
		

		
			A.Fixed costs: Subscription to “C le Marché”
		

		
			 
		

		
			Through their contribution to the costs of the Marketplace C le Marché service on the Hosting Site, Sellers who are professionals or who are acting as professionals, undertake to pay the sum of €39 exclusive of tax to the Hosting Site. This amount falls due at the start of the month.
		

		
			 
		

		
			The Hosting Site shall have the option of reviewing the amount of this contribution. In such a case, it shall inform the Seller accordingly with 15 days’ notice, the Seller being free to accept or terminate his/her/its cooperation with the Hosting Site under the conditions covered in item 2 “Field of application – changes to the conditions” of the GCMA.
		

		
			 
		

		
			B.Variable costs: Grid showing commission applicable per category
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			List of commission applicable as from 1 September 2015

		
			 
		

		
			(a)  The commission due to the Hosting Site from each Seller for each Product sale he/she/it achieves on the Marketplace C le Marché, and subject to the sale to the Purchaser being definitive especially with respect to the legal option of retraction, are in the amount of 15% with the exception of the categories of Products listed hereunder to which the following rates of commission apply:
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Categories*

					
					
						    

					
					
						Commission
rate

					
					
						 

				
	
					
						Jewellery

					
					
						 

					
20 
					
					
						%

				
	
					
						D.I.Y.

					
					
						 

					
12 
					
					
						%

				
	
					
						High Tech, IT and Household electrical goods - Accessories

					
					
						 

					
12 
					
					
						%

				
	
					
						Musical instruments (excluding Accessories)

					
					
						 

					
12 
					
					
						%

				
	
					
						Tyres and Vehicles

					
					
						 

					
10 
					
					
						%

				
	
					
						Game consoles and video games

					
					
						 

					
8 
					
					
						%

				
	
					
						Household electrical goods - Appliances

					
					
						 

					
6.8 
					
					
						%

				
	
					
						High Tech – Sound, GPS, Car Audio, Photography, Video cameras, Lenses, Flashes

					
					
						 

					
6.8 
					
					
						%

				
	
					
						IT – Peripheral devices, hardware, networks, memories/storage

					
					
						 

					
6.8 
					
					
						%

				
	
					
						IT & High Tech – Computers, tables, PC screens, printers & scanners, video projectors

					
					
						 

					
4.8 
					
					
						%

				
	
					
						Drones

					
					
						 

					
4.8 
					
					
						%

				
	
					
						Televisions

					
					
						 

					
4.8 
					
					
						%

				
	
					
						Cell phones/Smartphones

					
					
						 

					
6.8 
					
					
						%

				
	
					
						All other categories

					
					
						 

					
15 
					
					
						%

				

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

The rate of commission applies to the amounts inclusive of tax for sales performed, including carriage, and the commission thus calculated is exclusive of VAT.
		

		
			 
		

		
			*The belonging of a Product to a certain category is determined and may be changed by Cdiscount.
		

		
			 
		

		
			Example:
		

			
	
			
				 ·
			

			
	
			
			Product price in the electrical appliances category: €99 inc. tax

			
	
			
				 ·
			

			
	
			
			Delivery costs: €4.99 inc. tax

			
	
			
				 ·
			

			
	
			
			Rate de commission: 6.5% ex. tax

		
			 
		

		
			Amount of Commission ex. tax: ((99 + €4.99) x 6.5%) = €6.76 ex. tax
		

		
			To which VAT applies, namely: €6.76  +  (€6.76  x  20%  (VAT))  =  €8.11  commission  inc.  tax. The Hosting Site shall have the option of revising this price list, such changes being governed by article 2 of the GCMA.
		

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

 
		

			
					
						 

					
						 

					
						 

					
						 

					
						 

				
	
					
						 

					
						 

					
						APPENDIX 3 – IMPERATIVE DELIVERY CONDITIONS

					
						 

					
						 

				

		
			 
		

		
			 
		

		
			The Seller must freely define the terms of delivery (standard, express, etc.) and despatch deadlines for its Products within the maximum deadlines defined in the present Appendix.
		

		
			 
		

		
			The Seller must inform the Purchaser of the minimum and maximum Product delivery deadlines. The time between these two deadlines must not exceed 15 days under any circumstances.
		

		
			 
		

		
			1.Product preparation
		

		
			 
		

		
			For all Product categories, the preparation period must not exceed 10 (ten) working days.
		

		
			 
		

		
			2.Delivery
		

		
			 
		

		
			The Seller must comply with the maximum delivery deadlines provided hereinafter, including the aforementioned preparation period:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			Origin of the item despatched: France

		
			 
		

			
					
						10 days

					
					
						    

					
					
						20 days

					
					
						    

					
					
						30 days

					
					
						 

				
	
					
						Food

					
					
						 

					
					
						Cars

					
					
						 

					
					
						Garden-DIY

					
					
						 

				
	
					
						Luggage

					
					
						 

					
					
						Electrical appliances

					
					
						 

					
					
						Furniture

					
					
						 

				
	
					
						Shoes

					
					
						 

					
					
						Baby items

					
					
						 

					
					
						Homewares

					
					
						 

				
	
					
						Plants

					
					
						 

					
					
						Pet accessories

					
					
						 

					
					
						Bedlinen

					
					
						 

				
	
					
						Image & Sound

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Sports

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Fashion

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Toys

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Photography equipment

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Computing

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Books

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Jewellery

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Telephony

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

 

		

			For information proposes only – non contractual value – only French version is valid

		

		

			 

		

 
		

			
	
			
				 ·
			

			
	
			
			Origin of the despatch: outside France

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						20 days

					
					
						 

					
					
						30 days

					
					
						 

				
	
					
						Luggage

					
					
						    

					
					
						Garden-DIY

					
					
						 

				
	
					
						Shoes

					
					
						 

					
					
						Furniture

					
					
						 

				
	
					
						Plants

					
					
						 

					
					
						Homewares

					
					
						 

				
	
					
						Image & Sound

					
					
						 

					
					
						Bedlinen

					
					
						 

				
	
					
						Sports

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Fashion

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Toys

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Photography equipment

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Computing

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Books

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Jewellery

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Telephony

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Luggage

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Cars

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Electrical appliances

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Baby items

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Pet accessories

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			If no country of despatch has been indicated by the Seller, it must undertake by default to comply with the maximum deadlines provided for Products despatched in France.
		

		
			 
		

		
			3.Penalties
		

		
			 
		

		
			Without prejudice to the provisions and penalties laid down in the GCMA, the Hosting Site reserves the right to reject and/or automatically suspend any advertisement for or offer of a Product showing delivery dates or conditions that are contrary to the present provisions.cnv_Ex4_76

		

			1

		

		
			Exhibit 4.76
		

		
			 
		

			
					
						 

					
						 

					
						 

				
	
					
						 

					
						SHARE TRANSFER AGREEMENT

					
						 

				

		
			 
		

		
			 
		

		
			OF 30 SEPTEMBER 2015
		

		
			 
		

		
			by and between
		

		
			 
		

		
			CDISCOUNT GROUP SAS
		

		
			FINANCIERE MSR SAS
		

		
			 
		

		
			as Seller
		

		
			 
		

		
			and
		

		
			 
		

		
			MONOPRIX SAS
		

		
			 
		

		
			as Buyer
		

		
			 
		

		
			 
		

		
			in the presence of
		

		
			 
		

		
			E-TREND
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						In  agreement  with  the  parties, this 

					
					
						 

				
	
					
						 

					
					
						document has been bound using  the

					
					
						 

				
	
					
						 

					
					
						ASSEMBLACT R.C. process which

					
					
						 

				
	
					
						 

					
					
						prevents any substitution or addition

					
					
						 

				
	
					
						 

					
					
						of  pages  and  is  signed on the final 

					
					
						 

				
	
					
						 

					
					
						page only.

				

		
			 
		

		
			
		

		
			

		 

 

		

			2

		

TABLE OF CONTENTS
		

		
			 
		

			
					
						 

					
					
						 

					
					
						    

					
					
						page

				
	
					
						1.

					
					
						DEFINITIONS - INTERPRETATION

					
					
						 

					
4 
				
	
					
						2.

					
					
						PURCHASE AND SALE OF THE TRANSFERRED SHARES

					
					
						 

					
11 
				
	
					
						3.

					
					
						PRICE

					
					
						 

					
11 
				
	
					
						4.

					
					
						REPAYMENT OF PARTNER LOANS

					
					
						 

					
15 
				
	
					
						5.

					
					
						EXECUTION

					
					
						 

					
15 
				
	
					
						6.

					
					
						SELLER'S REPRESENTATIONS AND WARRANTIES

					
					
						 

					
16 
				
	
					
						7.

					
					
						BUYER'S REPRESENTATIONS AND WARRANTIES

					
					
						 

					
27 
				
	
					
						8.

					
					
						COMPENSATION

					
					
						 

					
28 
				
	
					
						9.

					
					
						OTHER UNDERTAKINGS

					
					
						 

					
35 
				
	
					
						10.

					
					
						MISCELLANEOUS

					
					
						 

					
40 
				
	
					
						11.

					
					
						APPLICABLE LAW - JURISDICTION

					
					
						 

					
43 
				

		
			 
		

		
			
		

		
			

		 

 

		

			3

		

THIS SHARE TRANSFER AGREEMENT IS DRAWN UP BY AND BETWEEN:
		

		
			 
		

		
			CDISCOUNT GROUP (formerly called Casino Entreprise), a société par actions simplifiée (simplified company limited by shares) with a share capital of 166,931,225 euros and with registered office at 1 Esplanade de France, 42000 Saint-Etienne, entered on the Saint-Etienne Trade and Companies Register under number 422 919 548 ("Cdiscount Group"), duly represented for the purposes hereof by Emmanuel Grenier,
		

		
			 
		

		
			FINANCIERE MSR, a société par actions simplifiée (simplified company limited by shares) with a share capital of 15,802 euros and with registered office at 120/126 Quai de Bacalan, 33000 Bordeaux, entered on the Bordeaux Trade and Companies Register under number 539 009 167 ("Financière MSR"), duly represented for the purposes hereof by Emmanuel Grenier,
		

		
			 
		

		
			(acting jointly and severally and hereinafter jointly called the "Seller")
		

		
			OF THE ONE PART
		

		
			AND
		

		
			 
		

		
			MONOPRIX, a société par actions simplifiée (simplified company limited by shares) with a share capital of 61,751,696 euros and with registered office at 14-16 Rue Marc Bloch, 92110 Clichy, entered on the Nanterre Trade and Companies Register under number 552 018 020 ("Financière MSR"), duly represented for the purposes hereof by Mr David Murciano and/or Mr Yvon Le Forestier,
		

		
			 
		

		
			(hereinafter called the "Buyer")
		

		
			OF THE OTHER PART
		

		
			 
		

		
			The Seller and the Buyer are hereinafter called individually a "Party" and jointly the "Parties".
		

		
			 
		

		
			IN THE PRESENCE OF:
		

		
			 
		

		
			E-TREND, a société par actions simplifiée (simplified company limited by shares) with a share capital of 73,889 euros and with registered office at 120/126 Quai de Bacalan, 33000 Bordeaux, entered on the Bordeaux Trade and Companies Register under number 488 972 993, duly represented for the purposes hereof by its chairman Emmanuel Grenier,
		

		
			 
		

		
			Which company is represented here to accept the clauses drawn up for its benefit and to make the undertakings applicable to it (in particular, those contained in Article 5.3).
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

			
	
			
				 (A)
			

			
	
			
			E-Trend is a société par actions simplifiée (simplified company limited by shares) incorporated under French law with a share capital of 73,889 euros and with registered office at 120/126 Quai de Bacalan, Bordeaux (33000), entered on the Bordeaux Trade and Companies Register under number 488 972 993 (the "Company").

		
			 
		

			
	
			
				 (B)
			

			
	
			
			The Seller holds 73,889 shares in the Company, each with a nominal value of one (1) euro, representing the whole of the Company's share capital and voting rights (the "Shares"), it being specified that the Shares are held by Cdiscount Group and Financière MSR in the proportions indicated below: (i) 58,089 Company shares, each with a nominal value of one (1) euro, representing approximately 78.62% of the Company's share capital and voting rights, are held by Cdiscount Group; and (ii) 15,800 Company shares, each with a nominal value of one (1) euro, representing approximately 21.38% of the Company's share capital and voting rights, are held by Financière MSR. With the exception of the Shares, there are no securities, stocks or rights whatsoever providing access, immediately or in the future, unconditionally or otherwise, to the Company's share capital and voting rights.

		
			 
		

		
			
		

		 

 

		

			4

		

			
	
			
				 (C)
			

			
	
			
			The Buyer has conducted an audit or has had an audit conducted on the Company's financial, accounting, legal and tax situation, has asked all questions and obtained all documents that it considers necessary, and has had access, in conducting that audit, to a set of documents and information ("Supplied Information"). The Buyer is an informed professional and has sought all relevant and appropriate advice in connection with this type of operation. A list of the Supplied Information to which the Buyer or its advisers have had access is contained in Annex A and an electronic copy of the whole of the Supplied Information has been recorded on four (4) identical non-rewritable DVD-Roms reviewed jointly by the Parties, a copy of which has been handed over to each Party on this day.

		
			 
		

			
	
			
				 (D)
			

			
	
			
			Following negotiations which began in July 2015, the Buyer has indicated that it wishes to buy from the Seller, and the Seller has confirmed that it wishes to sell to the Buyer, 37,683 Company shares, each with a nominal value of one (1) euro, representing approximately 51% of the Company's share capital and voting rights, distributed between Cdiscount Group and Financière MSR in the respective amount of 21,883 and 15,800 shares (the "Transferred Shares"), in accordance with the terms and conditions of this Agreement.

		
			 
		

			
	
			
				 (E)
			

			
	
			
			At the same time as signing this Agreement, the Parties have entered into (i) a unilateral promise to sell, granted by the Seller to the Buyer (the "UPS"), and (ii) a unilateral promise to buy, granted by the Buyer to the Seller (the "UPB" and, together with the UPS, the "Promises"), both relating to the remainder of the Shares and exercisable from 3 to 14 October 2016 and from 17 to 28 October 2016 respectively, and both for an exercise price which will be determined on the same basis as the price for the Transferred Shares.

		
			 
		

			
	
			
				 (F)
			

			
	
			
			Duff & Phelps and BDO have carried out a review, on behalf of the Seller and the Buyer respectively, confirming that the financial conditions of this Agreement and of the Promises are consistent with market values.

		
			 
		

			
	
			
				 (G)
			

			
	
			
			It is specified that this Operation constitutes a "Reclassification Operation" within the meaning of Article 10.1 c) of the Company's articles of association and is not therefore subject to the approval procedure provided for in Article 10.2 of those articles.

		
			 
		

			
	
			
				 (H)
			

			
	
			
			Prior to this date, the Company has received from all of its employees an individual letter of waiver confirming their decision not to submit an offer to buy the Transferred Shares, in accordance with Article L. 23-10-1, 3rd paragraph, of the Commercial Code.

		
			 
		

			
	
			
				 (I)
			

			
	
			
			Prior to this date, the Buyer has informed and consulted with its central works committee, which, on 18 September 2015, gave its backing to the proposed purchase of the Transferred Shares.

		
			 
		

		
			NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
		

		
			 
		

		
			1.          DEFINITIONS - INTERPRETATION
		

		
			 
		

		
			1.1        Definitions
		

		
			 
		

		
			In this Agreement, the following terms have the meaning given to them below:
		

		
			 
		

		
			"2012 Transfer Agreement" means the agreement entitled "share transfer agreement" entered into on 31 January 2012 between Mrs Chloé Ramade, Mrs Séverine Grégoire, Mr Sébastien Offant, the mutual funds Alven Capital III, LCL Innovation 2, LCL Innovation 2007, Capital Invest PME, Crédit Agricole Europe Innovation 2008 and Clipperton Finance 
		

		
			 
		

		
			
		

		
			

		 

 

		

			5

		

as transferors and Cdiscount Group as buyer, in the presence of the Company and of Financière MSR;
		

		
			 
		

		
			"2014 Settlement Agreement" means the agreement entitled "settlement agreement determining the final price for the transfer of 19,868 E-Trend shares" entered into on 12 December 2014 between, inter alia, Mrs Chloé Ramade and Mrs Séverine Grégoire and Cdiscount Group, in the presence of the Company and of Financière MSR;
		

		
			 
		

		
			"2014 Transfer Deed" means the agreement entitled "deed of transfer of 21,218 E-Trend shares and 7,866 Financière MSR shares" entered into on 15 May 2014 between, inter alia, Mrs Chloé Ramade and Mrs Séverine Grégoire and Cdiscount Group, in the presence of the Company and of Financière MSR;
		

		
			 
		

		
			"2017 Accounts" means the Company's accounts (balance sheet, profit and loss account and notes) for the year ended 31 December 2017, prepared in accordance with the Accounting Principles, drawn up by the Company's Chairman and having undergone a limited review by the Company's internal auditor;
		

		
			 
		

		
			"Accounting Principles" means (i) in the case of the Company Accounts, the accounting principles, rules and methods applicable in France and (ii) in the case of the Reference Accounts and 2017 Accounts, the IFRS (International Financial Reporting Standards) as applied by Casino with respect to its consolidated accounts for the year ended 31 December 2014;
		

		
			 
		

		
			"Accounts Date" means 31 December 2014;
		

		
			 
		

		
			"Additional Amount" has the meaning given to it in Article 8.17; "Initial Amount" has the meaning given to it in Article 8.17;
		

		
			 
		

		
			"Additional Claim" has the meaning given to it in Article 8.11.2; "Claim Concerned" has the meaning given to it in Article 8.17; "Third Party Claim" has the meaning given to it in Article 8.12;
		

		
			 
		

		
			"Additional Price" means any sum owed in addition to the price for the Transferred Shares in accordance with Article 3.2;
		

		
			 
		

		
			"Agreement" means this share transfer agreement (including its recitals and its Annexes");
		

		
			 
		

		
			"Authorisation" means any permit, authorisation, approval, licence, exemption, accreditation, registration, certification, declaration receipt or other similar authorisation granted by an Authority (expressly or tacitly);
		

		
			 
		

		
			"Authority" means any international, European, multinational or transnational organisation, government, State, region, department, municipality, local authority or any other political or administrative subdivision and any other person or authority exercising, where applicable under delegated powers, executive, legislative, judicial, regulatory or administrative powers;
		

		
			 
		

		
			"Buyer" has the meaning given to it in the recitals to this Agreement;
		

		
			 
		

		
			"Casino" means Casino, Guichard-Perrachon, a société anonyme (public limited company) with a share capital of 173,158,057.53 euros and with registered office at 1 Esplanade de France, 42000 Saint-Etienne, entered in the Saint-Etienne Trade and Companies Register under number 554 501 171,
		

		
			 
		

		
			
		

		
			

		 

 

		

			6

		

"Cdiscount" means Cdiscount, a société anonyme (public limited company) with a share capital of 5,631,441.34 euros and with registered office at 120/126 Quai de Bacalan — 33000 Bordeaux, entered in the Bordeaux Trade and Companies Register under number 424 059 822,
		

		
			 
		

		
			"Claim" has the meaning given to it in Article 8.11.1;
		

		
			 
		

		
			"CNova" means Cnova N.V., a naamloze vennootschap (limited liability company) incorporated under Dutch law, entered in the Netherlands Trade Register under number 60776676, with registered office at 273 Boulevard Schiphol, 1118 BH Schiphol, Netherlands;
		

		
			 
		

		
			"Company" has the meaning given to it in the recitals to this Agreement; 
		

		
			 
		

		
			"Stocks" has the meaning given to it in Article 6.11.1;
		

		
			 
		

		
			"Company Accounts" means the Company's certified company accounts (balance sheet, profit and loss account and notes) for the year ended on the Accounts Date;
		

		
			 
		

		
			"Competing Activity" means any activity involving the creation, operation and/or development of e-commerce sites for ready-to-wear clothing and branded fashion accessories, which sell products corresponding to current collections throughout the whole or part of the Territory;
		

		
			 
		

		
			"Control" has the meaning given to it in Article L. 233-3 of the Commercial Code;
		

		
			 
		

		
			"Damage" means any harm, loss, burden, debt, liability, asset impairment, damages, Tax, consumption of tax losses that can be carried forward, cost, penalties, expenses, interest and justified and reasonably incurred fees and disbursements of lawyers, advisers or experts (including those incurred in connection with a Third Party Claim or a Buyer Claim in accordance with Article 8);
		

		
			 
		

		
			"Date of Determination of the Additional Price" means the date on which the Additional Price has been determined definitively in accordance with the stipulations of Article 3.2, i.e.: (i) if the Buyer does not send any Notice of Calculation in accordance with Article 3.2.6.1: 16 April 2018; (ii) if Seller does not send any Notice of Query in accordance with Article 3.2.6.2: the day after the expiry of the period during which the Seller has the right to send a Notice of Query in accordance with that article; or (iii) if the Seller sends a Notice of Query in accordance with Article 3.2.6.2: the date of the written agreement between the Parties on the determination of the Additional Price or, in the absence of such agreement, the date on which the Expert submits his final report;
		

		
			 
		

		
			"Diligent Manner" means the behaviour of a reasonably prudent and diligent company manager;
		

		
			 
		

		
			"Employee Benefits Plan" means any agreement, scheme, plan, custom or practice, concluded or existing at any level whatsoever (including within any establishment, undertaking, group or undertakings or branch), the object of which is to grant benefits, or to finance benefits or to contribute towards the financing of those benefits, to all or a category of Company employees and/or officers (and, where applicable, to their spouses and dependants), including benefits in relation to pensions, social welfare and employee savings (including profit sharing and savings plans);
		

		
			 
		

		
			"Exceptional Operation" has the meaning given to it in Article 9.6.2;
		

		
			 
		

		
			
		

		
			

		 

 

		

			7

		

"Execution" means the transfer by the Seller to the Buyer of the ownership of the Transferred Shares under this Agreement;
		

		
			 
		

		
			"Exercise Date" has the meaning given to it in Article 8.17; "Representations" has the meaning given to it in Article 6;
		

		
			 
		

		
			"Expert" has the meaning given to it in Article 3.2.6.4; "Property" has the meaning given to it in Article 6.12.1; "Occupied Property" has the meaning given to it in Article 6.12.2;
		

		
			 
		

		
			"Guaranteed Percentage" means (i) 100% (if one or the other of the Promises has been exercised) or (ii) 51% in any other situation and, in particular, if the two Promises have not been exercised or neither Promise has been exercised;
		

		
			 
		

		
			"Important Contract" has the meaning given to it in Article 6.18.2;
		

		
			 
		

		
			"Important Employee" means the Company's purchasing manager, marketing manager, artistic manager, information systems manager and general manager;
		

		
			 
		

		
			"Information Systems" means any computer systems, telecommunications systems, software and hardware and computer and telecommunications equipment;
		

		
			 
		

		
			"Intellectual Property Right" means any brand, logo, trade name, company name, domain name, design, patent, invention (patentable or otherwise), utility model, software, copyright, trade secret, know-how, database and any other intellectual or industrial property right, howsoever called, whether registrable or otherwise, including any application for registration, renewal, extension and any rights pertaining to the above;
		

		
			 
		

		
			"Laws and Regulations" means any treaty, international convention, directive, regulation, act, decree, order, ordinance, code, instruction or other rule of general application which has binding effect adopted by an Authority;
		

		
			 
		

		
			"Lease" has the meaning given to it in Article 6.12.2;
		

		
			 
		

		
			"Market Place Contract" has the meaning given to it in Article 9.7;
		

		
			 
		

		
			"Market Place Volume of Business" means the volume of business generated by sales made on the "market place" operated by the Company on its website, including the product selling price and delivery costs charged;
		

		
			 
		

		
			"Member of the Buyer's Group" means the Buyer and any entity Controlled by the Buyer;
		

		
			 
		

		
			"Member of the Seller's Group" means CNova and any entity Controlled by CNova with the exception of the Company;
		

		
			 
		

		
			"Normal Course of Business" means the Company's management of its everyday activities and in a Diligent Manner and in accordance with previous customs and practices; where applied to the marketing of its stocks, these customs and practices include its policy in relation to promotions (clearance sales, discounts, private sales, etc.), it being understood that this policy varies from season to season according to market conditions and to the Company's profit targets.
		

		
			 
		

		
			"Notice of Calculation" has the meaning given to it in Article 3.2.6.1; "Notice of Query" has the meaning given to it in Article 3.2.6.2;
		

		
			 
		

		
			
		

		
			

		 

 

		

			8

		

"Operation" means the selling and buying of the Transferred Shares under this Agreement;
		

		
			 
		

		
			"Party" has the meaning given to it in the recitals to this Agreement;
		

		
			 
		

		
			"Previous Agreement or Undertaking" means any contract, shareholders' agreement, memorandum, agreement, promise or undertaking between the Members of the Seller's Group (or some of them), the Company and/or the Previous Partners (or some of them) in relation to the Company, its capital, assignment, activities or management (including, without limitation, the 2012 Transfer Agreement, the Previous Shareholders' Agreement, the 2014 Transfer Deed and the 2014 Settlement Agreement), other than any employment contracts that may exist on this date between one or more Previous Partners and the Company, provided that this is an employment contract referred to in Article 6.21.1., and is in accordance with the representations given in Article 6.21;
		

		
			 
		

		
			"Previous Agreement" means the agreement entitled "shareholders' agreement" entered into on 31 January 2012 between Mrs Chloé Ramade, Mrs Séverine Grégoire, Cdiscount Group and Financière MSR in the presence of the Company;
		

		
			 
		

		
			"Previous Partner" means any person other than the Seller who, in the past, has held Company shares, Company Securities or rights to buy or subscribe for Company Securities;
		

		
			 
		

		
			"Price" means the sum of the Basic Price and of the Additional Price; "Basic Price" has the meaning given to it in Article 3.1;
		

		
			 
		

		
			"Products" has the meaning given to it in Article 6.22; "Exercised Promise" has the meaning given to it in Article 8.17;
		

		
			 
		

		
			"Promises" has the meaning given to it in the recitals to this Agreement;
		

		
			 
		

		
			"Reference Accounts" means the Company's interim accounts (balance sheet, profit and loss account and notes) for the period ended 31 July 2015 and covering the seven-month period ending on that date;
		

		
			 
		

		
			"Reference Accounts Date" means 31 July 2015;
		

		
			 
		

		
			"Reference Price" means (i) the sum of the Price and of the exercise price payable to the Seller under the UPB or the UPS (as applicable), where one or other of the Promises has been exercised or (ii) the Price in any other situation and, in particular, if neither of the two Promises has been exercised or for as long as a Promise has not been exercised;
		

		
			 
		

		
			"Security" means, in relation to any person other than a natural person, any share or transferable security granting its holder (i) a proportion of the capital, voting rights, profits or liquidation surplus of that person or (ii) the right to subscribe for or acquire (by conversion, subscription, redemption, exchange or in any other manner) any share or transferable security granting a proportion of the capital, profits or liquidation surplus of that person;
		

		
			 
		

		
			"Security Interest" means any charge, security interest, mortgage, pawn, pledge, lien, retention of title, trust, easement, attachment, pre-emption right, purchase option or other third party right encumbering an asset or right or limiting the right of ownership over an asset or right or the free transferability thereof, and any undertaking to furnish any such rights or security interests;
		

		
			 
		

		
			"Seller" has the meaning given to it in the recitals to this Agreement.
		

		
			 
		

		
			
		

		
			

		 

 

		

			9

		

"Seller's Knowledge" or any similar expression means, in relation to a fact or event, the knowledge that the Company's general manager (Mr Thomas Peyraut) and/or the Company's chairman (Mr Emmanuel Grenier) has (have) or ought to have had on account of his (their) functions or by preparing this Agreement in conjunction with the Seller if he (they) had sought information from the Company's main salaried managers with the care normally expected from a company manager or diligent seller;
		

		
			 
		

		
			"Shares" has the meaning given to it in the recitals to this Agreement; "Transferred Shares" has the meaning given to it in the recitals to this Agreement;
		

		
			 
		

		
			"Studio Contract" means the contract referred to in Article 5.2(f);
		

		
			 
		

		
			"Supplied Information" has the meaning given to in in paragraph (C) of the recitals;
		

		
			 
		

		
			"Tax" means (i) any tax, levy, duty, tariff, fee, deduction, withholding tax, contribution or charge of any kind whatsoever and any social security contribution (employee's or employer's) imposed by any Authority or any other competent body, whether payable directly or by withholding or otherwise, including any corporation tax, income tax, property tax, customs duty, value added tax, payroll tax, contributions or charges payable in relation to social security or equivalent body, family allowances and the various pension and unemployment bodies, as well as any corresponding interest, fine or penalty, and (ii) any payment or repayment made to any company as the head of a tax consolidation group;
		

		
			 
		

		
			"Territory" means metropolitan France;
		

		
			 
		

		
			"Transitional Services" has the meaning given to it in Article 9.1; "Partner Loans" has the meaning given to it in Article 6.17.2;
		

		
			 
		

		
			"UPB" has the meaning given to it in the recitals to this Agreement; "UPS" has the meaning given to it in the recitals to this Agreement;
		

		
			 
		

		
			"Web Turnover" means the gross turnover excluding VAT (excluding promotions, returns and delivery costs charged) made by the Company from its own selling activities (excluding "market place" activities);
		

		
			 
		

		
			"Working Day" means a day other than Saturday, Sunday or public holiday in France with the meaning of Article L. 3133-1 of the Employment Code;
		

		
			 
		

		
			
		

		
			

		 

 

		

			10

		

1.2        Interpretation
		

		
			 
		

		
			In this Agreement, unless the context requires otherwise and unless expressly specified otherwise:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			any reference to Articles and Annexes is a reference to the articles and annexes of this Agreement;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the term "person" covers any natural or legal person, any company, group, joint venture, de facto company, Authority or any other entity with or without legal personality;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			in calculating any time period for the purposes of this Agreement, the provisions of Articles 640 to 642 of the Civil Procedure Code will be applied, it being understood that the references in Article 642 of that Code to a "public or bank holiday" and "first working day" shall be construed by reference to the definition of "Working Day" given herein;

		
			 
		

			
	
			
				 (d)
			

			
	
			
			the meaning given to terms defined in this Agreement applies both to the singular and the plural of those terms and, where applicable, their other grammatical forms;

		
			 
		

			
	
			
				 (e)
			

			
	
			
			the titles of the Articles and Annexes of this Agreement have been inserted for ease of reference only and do not affect either their meaning or interpretation;

		
			 
		

			
	
			
				 (f)
			

			
	
			
			the terms "which includes", "including", "notably" or "in particular" and any other term having the same meaning are not restrictive;

		
			 
		

			
	
			
				 (g)
			

			
	
			
			unless otherwise specified, any reference to a contract, undertaking, accord or agreement is a reference to any contract, undertaking, accord or agreement creating rights or obligations, whether in writing or oral;

		
			 
		

			
	
			
				 (h)
			

			
	
			
			the expression "make its best efforts" means that the Party making that commitment is bound by a best endeavours obligation.

		
			 
		

		
			
		

		
			

		 

 

		

			11

		

2.          PURCHASE AND SALE OF THE TRANSFERRED SHARES
		

		
			 
		

		
			The Seller sells to the Buyer, and the Buyer buys from the Seller, all of the Transferred Shares, free from any Security Interest, with all rights attached thereto, including the right to any dividend distribution or other distribution or payment made with effect from the present date, according to the terms and conditions of this Agreement.
		

		
			 
		

		
			3.          PRICE
		

		
			 
		

		
			3.1        Basic Price
		

		
			 
		

		
			Subject to Article 3.2, the total price for the whole of the Transferred Shares (the "Basic Price") is €9,690,000 (nine million six hundred and ninety thousand euros). The Basic Price is paid in full on this date by the Buyer to the Seller in accordance with the stipulations of Article 5.3.
		

		
			 
		

		
			3.2        Additional Price
		

		
			 
		

		
			3.2.1     Principle
		

		
			 
		

		
			In addition to the Basic Price, the Buyer will pay the Seller the sums specified in this Article 3.2, subject to the conditions and terms contained herein.
		

		
			 
		

		
			It is understood that any sums that may owed with respect to the various components of the Additional Price which are described in Articles 3.2.2 to 3.2.4 may be aggregated provided that more than one of the conditions respectively applicable to them are fulfilled. It is specified that the maximum amount of the Additional Price that may be owed to the Seller under this Article 3.2 is therefore €3,570,000 (three million five hundred and seventy thousand euros).
		

		
			 
		

		
			3.2.2     First component of the Additional Price: reaching a minimum Market Place Volume of Business threshold in 2017
		

		
			 
		

		
			Subject to Article 3.2.5, a sum of €1,020,000 (one million and twenty thousand euros) will be paid by way of Additional Price if the Market Place Volume of Business reaches or exceeds €1,600,000 (one million six hundred thousand euros) for the year ended 31 December 2017.
		

		
			 
		

		
			It is specified that if the Market Place Volume of Business for the year ended 31 December 2017 is less than €1,600,000 (one million six hundred thousand euros), no Additional Price will be owed under this Article 3.2.2 (or, by construction, under Article 3.2.3.1 or Article 3.2.4.1).
		

		
			 
		

		
			3.2.3     Second component of the Additional Price: reaching the Market Place Volume of Business and Web Turnover targets for 2017
		

		
			 
		

		
			3.2.3.1  Reaching of the Market Place Volume of Business target for 2017
		

		
			 
		

		
			Subject to Article 3.2.5, a sum of €765,000 (seven hundred and sixty-five thousand euros) will be paid by way of Additional Price if the Market Place Volume of Business reaches or exceeds €3,200,000 (three million two hundred thousand euros) for the year ended 31 December 2017.
		

		
			 
		

		
			If the Market Place Volume of Business for the year ended 31 December 2017 is greater than €1,600,000 (one million six hundred thousand euros) but less than €3,200,000 (three million two hundred thousand euros), and subject to Article 3.2.5, the following sum will be paid by way of Additional Price:
		

		
			 
		

		
			€765,000 x [(MPVB 2017 - €1,600,000) / €1,600,000]
		

		
			 
		

		
			
		

		
			

		 

 

		

			12

		

where MPVB 2017 means the Market Place Volume of Business for the year ended 31 December 2017.
		

		
			 
		

		
			3.2.3.2  Reaching of the Web Turnover target for 2017
		

		
			 
		

		
			A sum of €765,000 (seven hundred and sixty-five thousand euros) will be paid by way of Additional Price if the Web Turnover reaches or exceeds €36,052,000 (thirty-six million fifty-two thousand euros) for the year ended 31 December 2017.
		

		
			 
		

		
			If the Web Turnover for the year ended 31 December 2017 is greater than €34,800,000 (thirty-four million eight hundred thousand euros) but less than €36,052,000 (thirty-six million fifty-two thousand euros), the following sum will be paid by way of Additional Price:
		

		
			 
		

		
			€765,000 x [(WT 2017 - 34,800,000 / €1,252,000]
		

		
			 
		

		
			where WT 2017 means the Web Turnover for the year ended 31 December 2017.
		

		
			 
		

		
			It is specified that if the Web Turnover for the year ended 31 December 2017 is less than €34,800,000 (thirty-four million eight hundred thousand euros), no Additional Price will be owed under this Article 3.2.3.2 (or, by construction, under Article 3.2.4.2).
		

		
			 
		

		
			3.2.4     Third component of the Additional Price: exceeding Market Place Volume of Business and Web Turnover targets for 2017
		

		
			 
		

		
			3.2.4.1  Exceeding of the Market Place Volume of Business target for 2017
		

		
			 
		

		
			Subject to Article 3.2.5, a sum of €510,000 (five hundred and ten thousand euros) will be paid by way of Additional Price if the Market Place Volume of Business reaches or exceeds €3,840,000 (three million eight hundred and forty thousand euros) for the year ended 31 December 2017.
		

		
			 
		

		
			If the Market Place Volume of Business for the year ended 31 December 2017 is greater than €3,200,000 (three million two hundred thousand euros) but less than €3,840,000 (three million eight hundred and forty thousand euros), and subject to Article 3.2.5, the following sum will be paid by way of Additional Price:
		

		
			 
		

		
			€510,000 x [(MPVB 2017 - €3,200,000) / €640,000]
		

		
			 
		

		
			where MPVB 2017 means the Market Place Volume of Business for the year ended 31 December 2017.
		

		
			 
		

		
			3.2.4.2  Exceeding of the Web Turnover target for 2017
		

		
			 
		

		
			A sum of €510,000 (five hundred and ten thousand euros) will be paid by way of Additional Price if the Web Turnover reaches or exceeds €43,262,400 (forty-three million two hundred and sixty-two thousand four hundred euros) for the year ended 31 December 2017.
		

		
			 
		

		
			If the Web Turnover for the year ended 31 December 2017 is greater than €36,052,000 (thirty-six million fifty-two thousand euros), but less than €43,262,400 (forty-three million two hundred and sixty-two thousand four hundred euros), the following sum will be paid by way of Additional Price:
		

		
			 
		

		
			€510,000 x [(WT 2017 - €36,052,000) / €7,210,400]
		

		
			 
		

		
			
		

		
			

		 

 

		

			13

		

where WT 2017 means the Web Turnover for the year ended 31 December 2017.
		

		
			 
		

		
			3.2.5     Development of the Company's "market place" platform
		

		
			 
		

		
			No Additional Price will be owed under Articles 3.2.2, 3.2.3.1 and 3.2.4.1 if the Market Place Contract is terminated owing to Cdiscount's failure to perform one of its essential obligations and where Cdiscount has not remedied that failure within thirty (30) days of receiving formal notice to perform.
		

		
			 
		

		
			3.2.6     Procedure for determining the Additional Price
		

		
			 
		

		
			3.2.6.1  By no later than 15 April 2018, the Buyer will send the Seller a notice according to the model contained in Annex 3.2.6 (the "Notice of Calculation"). The Notice of Calculation will be accompanied by a copy of the 2017 Accounts and by the findings of the corresponding limited review signed by the Company's internal auditor and by a breakdown of the calculation of the Additional Price proposed by the Buyer in accordance with the rules defined in Articles 3.2.1 to 3.2.5. If the Buyer does not send any Notice of Calculation in accordance with this Article 3.2.6, the Additional Price will be its maximum amount of €3,570,000 (three million five hundred and seventy thousand euros).
		

		
			 
		

		
			3.2.6.2  The Seller has a period of thirty (30) Working days, as from receiving the Notice of Calculation, in which to notify the Buyer of any disagreement on its part (the "Notice of Query") with respect to the calculation of the Additional Price proposed by the Buyer and/or any underlying element in that calculation (including the 2017 Accounts). This Notice of Query must indicate, with a reasonable level of detail, the reasons for that disagreement and for each of the elements queried by the Seller. If the Seller does not send a Notice of Query within that time period, the calculation of the Additional Price contained in the Notice of Calculation will be deemed to be final and will be binding on the Seller in its entirety.
		

		
			 
		

		
			3.2.6.3  The Buyer agrees to provide the Seller and its advisers with reasonable access to the Company's books and records and to any other operational, financial or accounting information reasonably necessary to verify the calculation of the Additional Price proposed by the buyer and/or any underlying element in that calculation (including the 2017 Accounts), and will ensure that such access remains available throughout the period during which the Seller has the right to send a Notice of Query.
		

		
			 
		

		
			3.2.6.4  If the Parties do not agree in writing on the Additional Price within ten (10) Working Days of the Beneficiary receiving the Notice of Query (the Parties undertaking within that period to enter into good faith negotiations to reach agreement on any disagreements with respect to the determination of the Additional Price under the Agreement), or within any longer period agreed in writing between the Parties, the Additional Price will be determined by a professional accounting firm or expert specialising in company valuations, with an established reputation in France or internationally, and independent from the Parties (the "Expert") appointed by mutual agreement between the Parties or, if they fail to reach agreement within five (5) Working Days of the expiry of that time period, by the President of the Paris Commercial Court in an interim ruling, at the request of either of the Parties, and whose decision will be not open to appeal.
		

		
			 
		

		
			3.2.6.5  The Expert, who will act on the basis of Article 1592 of the Civil Code, will have the task of determining the Additional Price by applying the method for calculating the Additional Price and the rules, limits and definitions specified in the present Agreement and of settling any disagreement between the Parties with respect to the determination of the Additional Price hereunder.
		

		
			 
		

		
			
		

		
			

		 

 

		

			14

		

3.2.6.6  In carrying out his duties, the Expert will consult with both Parties and will notify them of his findings within thirty (30) Working Days of the date of his appointment. At least ten (10) Working Days before this notification, the Expert must send the Parties a draft of this notification and give each of the Parties the opportunity to submit observations on that draft.
		

		
			 
		

		
			3.2.6.7  The Expert's determination of the Additional Price will be final and binding on the Parties in accordance with Article 1592 of the Civil Code, except in the case of gross error committed by the Expert in the performance of his duties.
		

		
			 
		

		
			3.2.6.8  The Parties must cooperate with the Expert so as to enable him to carry out his duties within the agreed time periods and must, in particular, send him any information that he might reasonably request and which they have available.
		

		
			 
		

		
			3.2.6.9  If the Expert does not wish or is unable, for any reason whatsoever, to give his decision, a new Expert will be appointed in accordance with Article 3.2.6.4.
		

		
			 
		

		
			3.2.6.10 The Expert's fees and disbursements will be paid in equal share by the Parties.
		

		
			 
		

		
			3.2.7      Payment of the Additional Price
		

		
			 
		

		
			3.2.7.1  The Additional Price will be paid by the Buyer to the Seller within thirty (30) Working Days of the Date of Determination of the Additional Price, subject to Article 3.2.7.2. Payment will be made by bank transfer, using immediately available funds, into the bank account whose particulars the Seller will have notified by no later than five (5) Working Days before the due date for payment. The bank account in question must be opened with a French credit institution.
		

		
			 
		

		
			3.2.7.2  The Buyer will be entitled to withhold - from the amount of any payment that it might owe under this Article 3.2. - an amount equal to the sums claimed from the Seller under Article 8 which have not yet given rise to payment in accordance with Article 8.16. If all or part of the sums claimed by the Buyer should become payable in accordance with Article 8.16, the Buyer may offset these sums against the amounts that it has withheld. Any surplus will be payable within five (5) Working Days of the due date of the sums owed by the Seller in accordance with Article 8.16. If the Buyer's Claim should prove to be unfounded, the sums that it has withheld with respect to the Additional Price will be payable within five (5) Working Days of the date on which it was found that the Claim in question was unfounded. In all cases, any sums that are not offset will bear interest, on a pro rata basis, between the due date of the Additional Price and the date on which they are paid to the Seller, at the legal rate plus three (3)%.
		

		
			 
		

		
			3.3        Distribution of the Price
		

		
			 
		

		
			The Price will be distributed between Cdiscount Group and Financière MSR in proportion to the number of Transferred Shares transferred by each of the two companies.
		

		
			 
		

		
			
		

		
			

		 

 

		

			15

		

4.         REPAYMENT OF PARTNER LOANS
		

		
			 
		

		
			The Parties agree that the Partner Loans will be repaid on this date in accordance with Article 5.3, in the proportion of 51% of their amount in capital and interest declared by the Seller to the Buyer under Article 6.17.2.
		

		
			 
		

		
			5.         EXECUTION
		

		
			 
		

		
			5.1        Date and place
		

		
			 
		

		
			Ownership of the Transferred Shares will be transferred in Paris on the premises of the Casino group situated at 148 Rue de l'Université, 75007 Paris, or at any other place mutually agreed by the Parties, and the transfer will take place on this date (30 September 2015).
		

		
			 
		

		
			5.2        Seller's obligations in relation to Execution
		

		
			 
		

		
			On this date, the Seller hands over to the Buyer:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			transfer forms in relation to the transfer of the whole of the Transferred Shares, duly completed and signed in the Buyer's favour;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the up-to-date original of the share transfer register and a certificate signed by the Chairman of the Company certifying (i) that the above-mentioned transfer forms have been received and (ii) that the necessary instructions have been given so that the transfer of the Transferred Shares to the Buyer can be properly re-transcribed on 30 September 2015 in the partners' individual accounts, which will be sent to the Buyer at the earliest opportunity;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			the CERFA tax forms relating to the transfer of the Transferred Shares to the Buyer, duly signed by Cdiscount Group and Financière MSR;

		
			 
		

			
	
			
				 (d)
			

			
	
			
			the original letter of resignation, taking effect today immediately after Execution, of Mr Emmanuel Grenier from his position as Chairman of the Company, confirming that he holds no financial claim of any kind whatsoever against the Company with respect to the performance of his duties as Chairman;

		
			 
		

		
			(e)the original of a private agreement signed by the Seller as junior partner of the Company certifying the following joint decisions of the Company's partners, with effect from today's date immediately after Execution: (i) decision to appoint Mr Stéphane Maquaire as the Company's new Chairman; (ii) decision to amend the Company's articles of association;
		

		
			 
		

		
			(f)two (2) originals, duly signed, of the Studio Contract between Cdiscount and the Company regarding the provision of photographic services;
		

		
			 
		

		
			(g)two (2) originals, duly signed, of the partner loan agreement between Cdiscount Group and the Company regarding the 49% balance of the capital amount of the Partner Loans mentioned in Article 6.17.2, specifying an interest rate equal to the EONIA rate + 0.5% and indicating the first of the following two dates as being the maturity date: (i) the date on which the shares corresponding to those Promises that have been exercised are transferred and (ii) 2 November 2016.
		

		
			 
		

		
			5.3        Buyer's and Company's obligations in relation to Execution
		

		
			 
		

		
			On this date:
		

		
			 
		

		
			
		

		 

 

		

			16

		

			
	
			
				 (a)
			

			
	
			
			the Buyer pays the whole of the Basic Price to Cdiscount Group on the Seller's behalf, and Cdiscount Group will, in turn, pass on to Financière MSR the proportion of the Price to which it is entitled,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the Buyer provides the Company with the sums required to make the repayment described in Article 4,

		
			 
		

			
	
			
				 (c)
			

			
	
			
			the Company uses the sums thus made available to it to make partial repayment of the Partner Loans, as stated in Article 4,

		
			 
		

		
			by means of bank transfers, using immediately available funds, into the bank account(s) opened with a French credit institution whose particulars have been notified by the Seller.
		

		
			 
		

		
			On today's date, the Buyer hands over to the Seller the original of a private agreement signed by the Buyer as senior partner certifying the following joint decisions of the Company's partners, with effect from today's date immediately after Execution: (i) decision to appoint Mr Stéphane Maquaire as the Company's new Chairman; (ii) decision to amend the Company's articles of association.
		

		
			 
		

		
			6.          SELLER'S REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			The Seller represents and warrants that the representations made in this Article 6 (the "Representations") are correct and truthful on the present date or, with respect to any Representation made specifically on a certain date, on that date.
		

		
			 
		

		
			6.1        Capacity
		

		
			 
		

		
			The Seller has been duly incorporated and lawfully exists according to the Laws and Regulations applicable in France and has the authority and capacity to enter into this Agreement and to perform the obligations resulting herefrom. The Seller's competent company organs have authorised the Seller to sign this Agreement and to perform the obligations resulting herefrom without any other authorisation or formality being required from the Seller. This Agreement constitutes a lawful undertaking which is binding on the Seller in accordance with the terms hereof.
		

		
			 
		

		
			6.2        No conflict
		

		
			 
		

		
			Neither the conclusion nor the performance of this Agreement nor the execution of the Operation by the Seller constitutes or will constitute or will result in (i) a breach of the Seller's articles of association, (ii) a breach or non-compliance with the terms of any contractual undertaking binding on the Seller, or (iii) a breach by the Seller of the Laws and Regulations or of a decision or order by an Authority or arbitral tribunal or of an Authorisation, other, as far as (ii) and (iii) are concerned, than a breach or non-compliance likely (x) to affect the validity or enforceability of this Agreement or the Seller's capacity to perform its obligations hereunder or (y) to cause any harm to the Company, the Buyer or another Member of the Buyer's Group.
		

		
			 
		

		
			6.3        No insolvency
		

		
			 
		

		
			The Seller is not in a state of insolvency. No resolution has been approved and no meeting has been called with a view to the winding-up or liquidation of the Seller. The Seller is not subject to any court-supervised recovery, reorganisation or liquidation proceedings or other similar proceedings, including on a voluntary basis.
		

		
			 
		

		
			
		

		
			

		 

 

		

			17

		

6.4        Share ownership of the Company - Ownership and free transferability of the Transferred Shares
		

		
			 
		

		
			6.4.1     The Shares represent the whole of the Company's share capital and voting rights. The Company's other characteristics indicated in the recitals to this Agreement are correct. The Shares have been lawfully issued and subscribed and are fully paid up. All Shares are ordinary shares which confer the same rights and obligations on their holders. There are no Company Securities other than the Shares, and there is no other undertaking or agreement conferring upon any person whatsoever any right to acquire or subscribe for or be allocated or issue any Company Securities (including under stock option plans or share purchase plans or bonus issue plans or similar plans) and, apart from the Seller, no person holds any rights over the Company's profits, liquidation surplus or voting rights. No decision has been taken by the Company's bodies to issue or allot Securities. The Company has not issued bonds or debt securities.
		

		
			 
		

		
			6.4.2     The Seller has full and complete ownership of the whole of the Transferred Shares, free from any Security Interest and freely transferrable to the Buyer. There is no dispute or claim in relation to the Seller's rights over the Transferred Shares or the Seller's capacity or rights to sell the Transferred Shares, and nobody, with the exception of the Seller, can claim ownership of the Transferred Shares or any other right over the Transferred Shares.
		

		
			 
		

		
			6.5        Company
		

		
			 
		

		
			6.5.1     The Company has been duly incorporated and registered and lawfully exists according to the Laws and Regulations, and has the authority and capacity to carry out its activities in the manner in which they are currently carried out.
		

		
			 
		

		
			6.5.2     The Company is not and has not been in a state of insolvency. Except as provided for in Annex 6.5.2, no resolution has been approved and no meeting has been called with a view to the winding-up or liquidation of the Company. The Company is not and has not been subject to any court-supervised recovery, reorganisation or liquidation proceedings or other similar proceedings, including on a voluntary basis. The Company has not entered into any agreement or has not started or is not planning to start any negotiations with its creditors with a view to writing off or rescheduling all or some of its debts.
		

		
			 
		

		
			6.5.3     The Company (i) does not hold and has not held Securities, is not and has not been a member or participant of any person, is not and cannot be subject to any obligation to acquire or to become a member or participant of any person, and (ii) is not and has not been the de jure or de facto manager of another person.
		

		
			 
		

		
			6.6        Company activities
		

		
			 
		

		
			6.6.1     A full and up-to-date copy of the Company's articles of association is contained in Annex 6.6.1. No decision has been taken or is being envisaged to amend those articles of association. The Company's articles of association conform to the Laws and Regulations, and the Company has conformed and conforms to its articles of association and the resolutions, decisions and acts of the Company's organs have been taken in accordance with its articles of association and with the Laws and Regulations.
		

		
			 
		

		
			6.6.2     There are no other shareholders' agreements or similar agreements in force in relation to the governance of the Company or the issue or transfer of Company Securities. In particular, all clauses of the Previous Agreement have now ended, with the exception of the non-compete, non-solicitation and non-recruitment clauses applicable to Mrs Chloé Ramade and Mrs Séverine Grégoire which were drawn up primarily in the Company's favour in accordance with 
		

		
			 
		

		
			
		

		
			

		 

 

		

			18

		

Article 5 of the Previous Agreement, as repeated and amended by Article 7.2 of the 2014 Transfer Deed.
		

		
			 
		

		
			6.6.3     There are no current delegations of powers or signatory authorities conferring the right to bind the Company to third parties, with the exception of the delegations given to a current employee or officer of the Company in the Normal Course of Business.
		

		
			 
		

		
			6.7        Effect of the Operation
		

		
			 
		

		
			Without prejudice to and with the exception of any contrary information contained in Annex 6.7, the signing and performance of this Agreement will not affect either the Company's legal situation or its rights and obligations or its capacity to pursue its activities, and will not, in particular, bring about any of the following consequences:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			the amendment or termination of an agreement to which the Company is a party or beneficiary or the applicability or inapplicability of any term of any such agreement or an early repayment with respect to the Company's contractual obligations;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the possibility for any person to invoke a right or to release itself from any obligation towards the Company and, in particular, the possibility for a third party to rely on or demand the grant of a warranty, security interest or any other undertaking having an equivalent effect or to release itself from a warranty, security interest or any other undertaking having an equivalent effect issued in the Company's favour;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			any obligation to pay a Tax or any effect on or change in relation to the Taxes payable by the Company.

		
			 
		

		
			6.8        Company Accounts - Reference Accounts
		

		
			 
		

		
			6.8.1     A full copy of the Company Accounts and of the corresponding reports prepared by the Company's internal auditor is contained in Annex 6.8.1. The Company Accounts have been certified without observations by the Company's auditor. The Company Accounts have been prepared in accordance with the Laws and Regulations and with the Accounting Principles.
		

		
			 
		

		
			6.8.2     A full copy of the Reference Accounts and of the corresponding findings of the limited review undertaken by the Company's internal auditor is contained in Annex 6.8.2. The Reference Accounts have been prepared in accordance with the Accounting Principles.
		

		
			 
		

		
			6.8.3     The manner in which the Accounting Principles have been applied by the Company is described fully and accurately in the notes to the Company Accounts and the Reference Accounts, and these Accounting Principles have been applied on a consistent and coherent basis from one year to the next, subject to the comments made in the notes to the Company Accounts and the Reference Accounts.
		

		
			 
		

		
			6.8.4     The Reference Accounts are correct and truthful and give a true and fair view of the Company's assets, liabilities and financial situation on the date of these Reference Accounts, as well as its income for the seven-month period ending on the date of the Reference Accounts.
		

		
			 
		

		
			6.8.5     Except as provided for in the notes to the Reference Accounts or in Annex 6.8.5, the Company does not have any off-balance-sheet commitments.
		

		
			 
		

		
			6.8.6     Except as provided for in Annex 6.8.6, the records and books that the Company is required to keep pursuant to the Laws and Regulations are up-to-date and kept in accordance with those 
		

		
			 
		

		
			
		

		
			

		 

 

		

			19

		

Laws and Regulations, with the exception of any shortcomings or gaps that can be remedied and which do not cause Damage to the Company in an amount exceeding 30,000 euros.
		

		
			 
		

		
			6.9         Events since the Reference Accounts Date
		

		
			 
		

		
			6.9.1      Since the Reference Accounts Date:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			the Company has carried out its activities in the Normal Course of Business and no fact, event or circumstance has occurred which, individually or in conjunction with any other fact, event or circumstance, has had a material adverse effect on (a) the Company's activities, assets, liabilities, results, financial situation or outlook or (b) the Seller's capacity to perform its obligations under this Agreement within the time required (including under Article 8), it being specified that (i) for the sole purposes of (a) above, a "material adverse effect" means a negative impact on the Company's value where that impact can be valued at  more than 3 million euros; and

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the Company has carried out the investments specified in the Company's budget sent to the Buyer, and has not carried out any investments not specified in that budget; and

		
			 
		

			
	
			
				 (c)
			

			
	
			
			except as provided for in Annex 6.9(c), the Company has not carried out any operation referred to below or committed to carry out such an operation:

		
			 
		

		
			(i)    to decide to distribute or pay a dividend, interim dividend or other form of distribution (in cash or in kind), or to buy back or cancel all or some of its own Securities or reduce their nominal value or depreciate its capital;
		

		
			 
		

		
			(ii)   to acquire, assign or transfer by any means whatsoever, other than in the Normal Course of Business, any other tangible or intangible asset whose value or unit price is greater than two hundred thousand (200,000) euros (excluding VAT) or whose aggregate value or price, taking into account all operations of that kind carried out by the Company, is greater than seven hundred thousand (700,000) euros (excluding VAT);
		

		
			 
		

		
			(iii)  to change its practices or time periods in relation to recovery of monies owed by customers, payment of trade payables, tax liabilities or social security debts, or management of stocks or any other element taken into account in its working capital or cash requirements;
		

		
			 
		

		
			(iv)  to conclude, amend or terminate an agreement or undertaking with the Seller or one of the Members of the Seller's Group or in which the Seller or one of the Members of the Seller's Group is indirectly involved, or carry any act having or capable of having the effect, directly or indirectly, of generating a transfer of value to the Company's detriment or which is otherwise prejudicial to the Company, to the benefit of the Seller or one of the Members of the Seller's Group;
		

		
			 
		

		
			(v)    to change its accounting practices or methods or its Tax practices or methods or exercise any significant Tax option or conclude, amend or terminate any contract pertaining to a tax consolidation scheme or equivalent scheme.
		

		
			 
		

		
			6.9.2     As at 20 September 2015, the amount of the Company's net financial debt (including under any Partner Loan) was 9,363,060.10 euros.
		

		
			 
		

		
			6.9.3     Since 20 September 2015, the amount of the Company's net financial debt (including under any Partner Loan) has not increased by more than 5%.
		

		
			 
		

		
			
		

		
			

		 

 

		

			20

		

6.9.4     For the purposes of Articles 6.9.2 and 6.9.3, "net financial debt" means the sum of the following components: the capital balance of any Partner Loan, outstanding interest accrued on those loans, the balance of bank borrowing minus available cash, and investment securities.
		

		
			 
		

		
			6.10      Tangible assets - Business
		

		
			 
		

		
			The Company has the right to use the tangible assets (other than the stocks and the Properties referred to in Articles 6.11 and 6.12) that it uses in the performance of its activities. These tangible assets are in good working order and are adequately maintained, taking into account the purpose for which they are used by the Company. The Company is the unrestricted owner of its business, which is not encumbered by any Security Interest and is not subject to a lease management arrangement.
		

		
			 
		

		
			6.11      Stocks - Financial claims
		

		
			 
		

		
			6.11.1   The Company's stocks of goods on the Reference Accounts Date, an inventory of which is contained in Annex 6.11.1 (the "Stocks"), are free from any Security Interest and, subject to the depreciation allowance mentioned in the Reference Accounts, are in good condition and usable by the Company for their intended purpose.
		

		
			 
		

		
			6.11.2   The financial claims entered in the Reference Accounts are valid, have been fully recovered or are fully recoverable in the Normal Course of Business (without having to commence any recovery proceedings or to instruct a specialist person to recover such debts) or an allowance has been duly set aside for such claims in the Reference Accounts.
		

		
			 
		

		
			6.12      Property
		

		
			 
		

		
			6.12.1   The Company does not own any real property or property rights ("Property") and is not subject or cannot be subject to an obligation to acquire Property. Except as provided for in Annex 6.12.2, all of the Properties used by the Company are rented or occupied under a lease or occupancy agreement drawn up in writing.
		

		
			 
		

		
			6.12.2   A full and accurate list of the properties leased or occupied by the Company (each an "Occupied Property"), whether or not in accordance with a lease or an occupancy or domiciliation agreement (a "Lease" or an "Occupancy Agreement"), indicating, for each Occupied Property, the owner's name, its location, the current amount of rent and provisions for charges or taxes applicable, as well as the nature, date of conclusion and duration or renewal date of the corresponding Lease or Occupancy Agreement, is contained in Annex 6.12.2. The amount of rent or charges under Leases or Occupancy Agreements has been duly reviewed and index-linked.
		

		
			 
		

		
			6.12.3   The Company is not in breach of any its main obligations under any of the Leases or Occupancy Agreements. To the Seller's Knowledge, there is no fact or circumstance that would enable a person to take possession or occupy an Occupied Property or contest the right to renewal of a Lease. The owner has no right to end a Lease or Occupancy Agreement before the agreed term. The Company has not entered into a sub-letting agreement or other agreement whereby any person is entitled to use or occupy an Occupied Property.
		

		
			 
		

		
			6.12.4   Except as provided for in Annex 6.12.4, the Company has not received or sent correspondence relating to the cancellation, termination, rescission, suspension or non-renewal of a Lease or Occupancy Agreement or contesting the Company's right to renewal under a Lease and, to the Seller's Knowledge, there is no threat of any such claim.
		

		
			 
		

		
			
		

		
			

		 

 

		

			21

		

6.13      Intellectual Property
		

		
			 
		

		
			6.13.1   The Intellectual Property Rights used by the Company or which are necessary for its activities have been licensed by their holder to the Company or are held in full ownership by the Company, free from any Security Interest.
		

		
			 
		

		
			6.13.2   A full and accurate list of the Intellectual Property Rights belonging to the Company (indicating for those that been registered or for which an application for registration has been filed, the corresponding country) is contained in Annex 6.13.2. The Intellectual Property Rights belonging to the Company which are capable of being registered have been registered in each country where they are used or where it is anticipated that they will be used. The Company has carried out the necessary formalities and payments for registering the Intellectual Property Rights belonging to it and for maintaining those registrations in force. The Company has not behaved in a way that may bring about the loss, cancellation or unenforceability of these Intellectual Property Rights or any corresponding registration. The Company has not licensed or granted any right to use an Intellectual Property Right belonging to it.
		

		
			 
		

		
			6.13.3   A full and accurate list of the Intellectual Property Rights for which the Company holds licences is contained in Annex 6.13.3. The Company has the right to use the Intellectual Property Rights that have been licensed to it in the manner that it uses them and has not granted any right over such rights.
		

		
			 
		

		
			6.13.4   The Company has not received any correspondence querying the ownership or use of an Intellectual Property Right and, to the Seller's Knowledge, there is no threat of any such query.
		

		
			 
		

		
			6.13.5   Except as provided for in Annex 6.13.5, neither the performance of its activities by the Company nor the use of Intellectual Property Rights by the Company in carrying out those activities infringes or has infringed a third party's Intellectual Property Rights, or constitutes or has constituted an act of unfair competition, free-riding or an unfair commercial practice, and the Company has not received correspondence alleging any such fact or alleging the wrongful disclosure by the Company of a third party's Intellectual Property Rights, and, to the Seller's Knowledge, there is no threat of any such claim. To the Seller's Knowledge, (i) no third party is infringing an Intellectual Property Right belonging to the Company and (ii) no third party has registered a domain name likely to lead to confusion with a domain name used by the Company in the performance of its activities or with the Company's business name. With the exception of the licences referred to in Article 6.13.3, there are no agreements of any kind whatsoever relating to any Intellectual Property Right held or used by the Company.
		

		
			 
		

		
			6.13.6   The Company is the legitimate owner and lawfully exploits the creations or inventions of its employees and officers or of any third party with which it has entered into a service agreement concerning an inventive activity. No Company employee or officer can claim, in any capacity whatsoever, any right over the Intellectual Property Rights used or held by the Company. Except as provided for in Annex 6.13.6, the contracts entered into by the Company with any employee, officer, consultant or external service provider who have contributed towards the creation or development of an Intellectual Property Right lawfully stipulate that these Intellectual Property Rights are fully assigned to the Company, with the exception of any inalienable moral right in accordance with the Laws and Regulations. No amount is or may be owed by the Company to an employee, officer, consultant or external service provider in connection with the creation or development of an Intellectual Property Right used by the Company.
		

		
			 
		

		
			
		

		
			

		 

 

		

			22

		

6.14      Information Systems
		

		
			 
		

		
			6.14.1   The Company owns or holds a legitimate right to use the Information Systems that it uses. These systems undergo the usual maintenance and updating programmes in line with good practice in the Company's business sector. No action will be required as a result of the execution of the Operation to ensure that the Information Systems used by the Company can continue to be used in the same way and at the same cost, subject to the Transitional Services.
		

		
			 
		

		
			6.14.2   During the last two (2) years, no security failure or fault has occurred with the Company's Information Systems causing loss or corruption of data (including unauthorised access to customers' personal data).
		

		
			 
		

		
			6.14.3    In accordance with good practice in its business sector, the Company has (i) implemented the usual security devices to protect the Information Systems that it uses and that data that it stores or transmits from any unauthorised access, use or modification, and (ii) established data security procedures and business continuity plans in the event of loss.
		

		
			 
		

		
			6.15      Compliance with Laws and Regulations
		

		
			 
		

		
			6.15.1   Except as provided for in Annex 6.15.1, the Company carries out and has carried out its activities in accordance with the Laws and Regulations, and conforms and has complied with any decision, Authorisation or order given in relation to the Company by an Authority or an arbitral tribunal. To the Seller's Knowledge, the Company is not required to make investments or to incur expenses in order to comply with the Laws and Regulations or with any decision, Authorisation or order given in relation to the Company by an Authority or an arbitral tribunal.
		

		
			 
		

		
			6.15.2   Except as provided for in Annex 6.15.2 and for disputes and other procedures in relation to Taxes referred to in Article 6.20.2, the Company has not in the last three (3) years, (i) received correspondence, (ii) been involved in a dispute (iii) or been the subject of an inspection or investigation or decision or order issued by an Authority or arbitral tribunal, in each case concerning a breach or supposed breach of the Laws and Regulations or of an Authorisation and, to the Seller's Knowledge, there is no threat of any such circumstance occurring.
		

		
			 
		

		
			6.16      Disputes
		

		
			 
		

		
			6.16.1    Except as provided for in Annex 6.16.1 and for disputes and inspections in relation to Taxes referred to in Article 6.20.2, the Company is not involved in any dispute or any legal, criminal, administrative or arbitration proceedings (including any inspection or investigation conducted by an Authority) and, to the Seller's Knowledge, there is no threat of any such dispute or proceedings.
		

		
			 
		

		
			6.16.2   Except as provided for in Annex 6.16.2, there is no decision or order made or issued by a judicial, administrative or arbitral Authority against the Company or no settlement agreement concluded by the Company under which, in both cases, obligations remain incumbent on the Company.
		

		
			 
		

		
			
		

		
			

		 

 

		

			23

		

6.17      Relations with the Seller
		

		
			 
		

		
			6.17.1   With the exception of the Partner Loans, of the contracts referred to in Article 6.12.2 for the supply of employees to the Company by the Seller or by a Member of the Seller's Group, of the Transitional Services, of the Studio Contract, of the Market Place Contract, and of the sub-occupancy agreements referred to in Article 9.8, there is no agreement, undertaking, promise or other contractual obligation between the Seller or another Member of the Seller's Group, on the one hand, and the Company, on the other, nor is there any agreement to which the Company is party and in which the Seller or another Member of the Seller's Group is indirectly involved, and neither the Seller nor any other Member of the Seller's Group (i) is a creditor or debtor of the Company in any capacity whatsoever and holds no rights whatsoever against the Company, (ii) uses or is entitled to use a property, asset or right belonging to the Company (iii) holds, in whole or in part, a property, asset or right that the Company uses or which the Company enjoys in carrying out its activities. Annex 6.17.1 specifies, from among the services provided to the Company by the Seller or another Member of the Seller's Group, those which to date have not been charged at arm's length and which will be charged at arm's length with effect from the date of this document, as well as the amount to be charged in the future. The Company is not party to any cash pooling agreement, either with any Member of the Seller's Group or with any other person.
		

		
			 
		

		
			6.17.2   The Company has lend its partner Cdiscount Group a sum in the aggregate capital amount of €9,000,000, which bears interest at a rate equal to the EONIA rate + 0.5%, in accordance with a loan agreement, a copy of which is contained in Annex 6.17.2 (the "Partner Loans"). The total amount owed by the Company as at this date under the Partner Loans (including interest) is €9,020,462.46, which sum is to be partially repaid in accordance with Article 4. No other sum is owed by the Company in respect of the Partner Loans and/or their partial repayment on the date of the Agreement.
		

		
			 
		

		
			6.17.3   The Company has not granted any guarantee, security interest, letter of comfort, compensation undertaking or other similar obligation in relation to the obligations or debts of the Seller or of another Member of the Seller's Group and is not jointly and severally liable towards anyone with the Seller or with another Member of the Seller's Group.
		

		
			 
		

		
			6.18      Contracts - Important Contracts
		

		
			 
		

		
			6.18.1   All agreements, understandings and undertakings by which the Company is bound or which it enjoys have been lawfully concluded and constitute legitimate and enforceable undertakings in accordance with their terms and are not in breach of the Laws and Regulations. The Company and, to the Seller's Knowledge, each other party to these agreements, understandings and undertakings comply and have complied with their obligations under the agreements, understandings and undertakings by which the person concerned is bound. No event has occurred which could constitute a breach of or non-compliance with such agreements, understandings and undertakings or give rise to the cancellation, termination, rescission, suspension or amendment thereof or to the payment by the Company of penalties or compensation of any kind whatsoever. The Company has not received or sent, during the last twelve (12) months, any correspondence alleging breach of or non-compliance with such agreements, understandings and undertakings or relating to the cancellation, termination, rescission, suspension or amendment of any such agreements, understandings and undertakings and, to the Seller's Knowledge, there is no threat of any such allegation.
		

		
			 
		

		
			6.18.2   Part I of Annex 6.18.2 contains a list of all agreements or undertakings (other than a Lease, employment contract, Intellectual Property Rights contract, or insurance policy) by which the Company is bound or which it enjoys and:
		

		
			 
		

		
			
		

		 

 

		

			24

		

			
	
			
				 (a)
			

			
	
			
			which was not concluded in the Normal Course of Business or at arm's length,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			whose remaining duration exceeds two (2) years (excluding automatic renewal) or which can only be terminated by the Company subject to giving more than six (6) months' notice or by paying a penalty of more than 100,000 euros,

		
			 
		

			
	
			
				 (c)
			

			
	
			
			relating to a loan, debt or other form of liability in an amount exceeding 100,000 euros,

		
			 
		

			
	
			
				 (d)
			

			
	
			
			under which the Company has granted a warranty, security interest, compensation undertaking or joint and several undertaking, or any other similar obligation aimed at guaranteeing a third party's undertaking,

		
			 
		

			
	
			
				 (e)
			

			
	
			
			which consists of a distribution contract, commercial agency contract, commission agent contract or contract involving any other form of intermediation, under which sales or purchases in relation to the previous year exceeded an annual amount of 100,000 euros or are estimated to do so for in the current year,

		
			 
		

			
	
			
				 (f)
			

			
	
			
			which consists of a purchase contract that generated an expense exceeding 167,000 euros either in relation to the previous year or which is estimated to do so in the current year, or which includes commitments in terms of the volume of supply by the Company in an amount exceeding 167,000 euros,

		
			 
		

			
	
			
				 (g)
			

			
	
			
			which has been concluded with an Authority, including in relation to Taxes,

		
			 
		

			
	
			
				 (h)
			

			
	
			
			which contains non-competing or exclusivity clauses,

		
			 
		

			
	
			
				 (i)
			

			
	
			
			which relates to an operation to buy or sell assets or Securities, to a merger or to any other business combination operation, and in relation to which obligations exists on account of representations, warranties or other undertakings (including with respect to payment of the price),

		
			 
		

			
	
			
				 (j)
			

			
	
			
			which relates to a joint venture operation or involves revenues or results sharing or remuneration calculated by reference to the Company's revenues or results,

		
			 
		

			
	
			
				 (k)
			

			
	
			
			which contains a change of control clause which may be lawfully invoked, or any term which would become applicable or inapplicable on account of the conclusion or performance of this Agreement, or

		
			 
		

			
	
			
				 (l)
			

			
	
			
			which concerns the Company's logistics, transport or import operations,

		
			 
		

		
			("Important Contracts").
		

		
			 
		

		
			Part II of Annex 6.18.2 contains a list of the drafts of the Important Contracts currently under negotiation but which have not yet been signed on the present date.
		

		
			 
		

		
			6.18.3   The Company has not promised to enter into or to be bound by or to benefit from an agreement or undertaking which, if concluded, would constitute an Important Contract.
		

		
			 
		

		
			6.18.4    To the Seller's Knowledge and except as provided for in Annex 6.18.4, no counterparty to an Important Contract has expressed its intention to end or substantially alter its business relations with the Company.
		

		
			 
		

		
			
		

		
			

		 

 

		

			25

		

6.19      Insurance
		

		
			 
		

		
			6.19.1   A full and accurate list of the insurance policies taken out for the benefit of the Company or its assets or its employees or officers is contained in Annex 6.19.1. These policies are in full effect and the premiums owed and payable have been duly paid at the appropriate time. The Company has observed the terms and satisfied all requirements laid down in such insurance policies.
		

		
			 
		

		
			6.19.2   Neither the Seller nor any other Member of the Seller's Group nor the Company has received correspondence relating to the cancellation, termination, rescission, suspension or non-renewal of those policies or concerning any increase in the insurance premiums for one of those policies, and, to the Seller's Knowledge, there is no threat of any such circumstance or any reason for that circumstance to occur, and the Company has not sent any notice of termination or non-renewal in relation to one of those policies. No insurer has refused to cover or challenged its obligation to cover or reserved its rights in relation to a claim made under these policies over the last three (3) years and there are no facts, circumstances or events that may enable an insurer to refuse to cover a claim made under these policies.
		

		
			 
		

		
			6.20      Taxes
		

		
			 
		

		
			6.20.1   The Company has complied with the applicable Tax Laws and Regulations and with any formal or tacit ruling or position on the part of a competent Authority. The Company has, in the time and manner required, prepared and filed all Tax returns that it is required to prepare and file, and these returns are complete, truthful and accurate, and have been prepared in compliance with the Laws and Regulations.
		

		
			 
		

		
			6.20.2   Except as provided for in Annex 6.20.2, the Company has paid the Taxes for which it is liable on their due date, where applicable on a provisional basis. Taxes which are or may be owed by the Company as a result of an operative event or arising from a period prior to the Accounts Date or the Reference Accounts Date have either been duly paid or an allowance has been set aside in the Company Accounts or the Reference Accounts.
		

		
			 
		

		
			6.20.3   Except as provided for in Annex 6.20.3, the Company is not currently the subject of any inspection or investigation by a competent Tax authority and is not involved in a dispute with any such Authority, and neither the Seller nor any other Member of the Seller's Group nor the Company has received any notice or correspondence pertaining to any such dispute.
		

		
			 
		

		
			6.20.4   The Company has not benefited from any preferential Tax regime and is not bound by any obligation under any such preferential regime.
		

		
			 
		

		
			6.20.5    No Company assets are encumbered by a Security Interest in favour of a competent Tax Authority, and no warranty or similar undertaking has been given to a competent Tax Authority with respect to Taxes owed or purportedly owed by the Company.
		

		
			 
		

		
			6.20.6   All settlements and agreements concerning the Company have been carried out or concluded at arm's length.
		

		
			 
		

		
			6.20.7   The Company cannot be held liable for payment of any Tax by another person. The Company is not bound by any compensation undertaking, including through the effect of joint and several liability, with respect to a Tax that is or may be owed by another person.
		

		
			 
		

		
			6.20.8   The Company's tax losses and Tax credits can be fully carried forward and set off against future profits in accordance with the Laws and Regulations.
		

		
			 
		

		
			
		

		
			

		 

 

		

			26

		

6.20.9  The Company is not and has not been treated as a tax resident of a jurisdiction other than the jurisdiction where it is registered and has no branches, offices or permanent establishments in a jurisdiction other than the jurisdiction where it is registered, and has not received any notice or correspondence from a competent Tax Authority and no proceedings have been commenced against it in this regard and, to the Seller's Knowledge, there is no reason why any such notice or correspondence should be received or any such proceedings should be commenced.
		

		
			 
		

		
			6.21      Employees and officers
		

		
			 
		

		
			6.21.1    Annex 6.21.1 contains a list of the Company's employees and officers which includes the following full and accurate details for each of them as at the present date: (i) name and age, (ii) place of work, job title, classification, status and nature of the employment contract, (iii) current basic salary or pay (including all benefits) and principles applicable for determining the variable part or bonus, (iv) date of commencement and length of service (v), length of notice period, severance pay or other provisions applicable if that person ceases to be an employee or officer for any reason whatsoever (if these terms are more favourable than those resulting from the Laws and Regulations or from collective agreements as described in Annex 6.21.8), (vi) other benefits resulting neither from the Laws and Regulations nor from collective agreements as described in Annex 6.21.8 and (vii) as far as the Company's officers are concerned, their date of appointment, their term of office and any power limitations.
		

		
			 
		

		
			6.21.2   Annex 6.21.2 contains a full and accurate copy of all contracts under which employees are supplied to the Company by Members of the Seller's Group or by an entity Controlled by Casino and of the amendments to the employment contracts of each of the employees concerned. The remuneration passed on by the lending company, Member of the Seller's Group, to the Company with respect to the employees supplied and in accordance with the supply contracts, is also indicated in Annex 6.21.2 for each of the employees concerned.
		

		
			 
		

		
			6.21.3    Except as provided for in Annex 6.21.3, no Important Employee is involved in discussions about a settlement or agreed termination, and, to the Seller's Knowledge, no Important Employee has expressed an intention to resign from his duties.
		

		
			 
		

		
			6.21.4    Except as provided for in Annex 6.21.4, the Company has complied and continues to comply with the applicable Laws and Regulations on employment law, has observed the collective agreements described in Annex 6.21.8 and the employment contracts concluded with its employees (which contracts comply with the applicable Laws and Regulations and collective agreements).
		

		
			 
		

		
			6.21.5   To the Seller's Knowledge, no employee or officer is suffering from an occupational illness or is on sick leave due to an accident at work.
		

		
			 
		

		
			6.21.6   The Company has paid when due (or has set aside an allowance in the Reference Accounts) the sums owed to its current or former employees and officers (including, as far as the latter are concerned, following severance of their contract with the Company), as well as the sums owed under Employee Benefit Plans.
		

		
			 
		

		
			6.21.7   The Company is not bound by any commitment (except those resulting from employment contracts or Employee Benefit Plans) and has not made any promise or announcement as to (i) the stability, protection or maintenance of jobs within the Company, (ii) the remuneration and benefits granted to employees (including with respect to Employee Benefit Plans).
		

		
			 
		

		
			6.21.8    Annex 6.21.8 lists or provides a copy, in a full and accurate manner, of the following documents where they are applicable to the Company's employees and officers (or some of them): (i) industry-wide agreements and interprofessional agreement and, where different from those 
		

		
			 
		

		
			
		

		
			

		 

 

		

			27

		

referred to in (ii) below, company-level agreements and other collective agreements, (ii) the Employee Benefit Plans applicable, indicating, for each Employee Benefit Plan, whether it operates for the benefit of all or only some of the Company's employees, (iii) other agreements with an employee representative body or trade union, (iv) remuneration systems, including allowances, bonuses, commissions and benefits in kind, enjoyed by all or only some of the Company's employees and officers and (v) any unilateral custom or agreement granting benefits exceeding those resulting from the Laws or Regulations or the agreements mentioned in (i), (ii), (iii) or (iv) above. Each Employee Benefit Plan has been managed and administered in accordance with its terms and each Employee Benefit Plan that may enjoy a special Tax regime meets the criteria required to enjoy that regime. No Employee Benefit Plan relating to retirement or post-retirement benefits consists of a defined benefits plan or includes any defined benefit.
		

		
			 
		

		
			6.21.9    The Company is not involved and has not been involved over the last three (3) years in any industrial dispute (including a strike) and, to the Seller's Knowledge, there is no threat of any such dispute. The Company is not introducing or preparing any collective redundancy or voluntary redundancy plan and has not made any declarations or any promises with respect to a possible future collective redundancy or voluntary redundancy plan. No collective redundancy or voluntary redundancy plan has been implemented by the Company over the last five (5) years.
		

		
			 
		

		
			6.22      Product liability
		

		
			 
		

		
			The Company is not likely to be held liable for the products that it has imported, marketed or distributed ("Products") or under the warranties that it has given in relation to those Products. These Products conform to the applicable Laws and Regulations and Authorisations and to the agreements or undertakings binding the Company. The Company has not (i) received correspondence (including from an Authority) relating to non-conformity or defect in its Products or to a possible liability with respect to its Products, or (ii) sent correspondence about any fault, non-conformity or, more generally, a defect of any kind whatsoever concerning a Product and, to the Seller's Knowledge, there is, in each case, no circumstances likely to give rise to any such claim.
		

		
			 
		

		
			6.23      Supplied Information
		

		
			 
		

		
			The Supplied Information has been gathered in good faith and with the care normally expected from a diligent seller in order to enable the Buyer to gain a clear opinion on the Company's situation, and does not knowingly omit any significant facts relating to the Company and its activities.
		

		
			 
		

		
			7.          BUYER'S REPRESENTATIONS AND WARRANTIES
		

		
			 
		

		
			The Buyer represents and warrants that the representations made below are correct and truthful on the present date or, with respect to any representation made specifically on another date, on that other date.
		

		
			 
		

		
			7.1        Capacity
		

		
			 
		

		
			The Buyer has been duly incorporated and registered and lawfully exists according to the Laws and Regulations applicable, and has the authority and capacity to enter into this Agreement and to perform the obligations resulting herefrom. The Buyer's competent company organs have authorised the Buyer to sign this Agreement and to perform the obligations resulting herefrom without any other authorisation or formality being required from the Buyer. This Agreement 
		

		
			 
		

		
			
		

		
			

		 

 

		

			28

		

constitutes a lawful undertaking which is binding on the Buyer in accordance with the terms hereof.
		

		
			 
		

		
			7.2        No conflict
		

		
			 
		

		
			Neither the conclusion nor the performance of this Agreement nor the execution of the Operation by the Buyer constitutes or will constitute or will result in (i) a breach of the Buyer's articles of association, (ii) a breach or non-compliance with the terms of any contractual undertaking binding on the Buyer, or (iii) a breach by the Buyer of the Laws and Regulations or of a decision or order by an Authority or arbitral tribunal or of an Authorisation, other, as far as (ii) and (iii) are concerned, than a breach or non-compliance likely (x) to affect the validity or enforceability of this Agreement or the Buyer's capacity to perform its obligations hereunder or (y) to cause any harm to the Seller or another Member of the Seller's Group.
		

		
			 
		

		
			7.3        No insolvency
		

		
			 
		

		
			The Buyer is not in a state of insolvency. No resolution has been approved and no meeting has been called with a view to the winding-up or liquidation of the Buyer. The Buyer is not subject to any court-supervised recovery, reorganisation or liquidation proceedings or other similar proceedings, including on a voluntary basis.
		

		
			 
		

		
			7.4        No grounds for activating the guarantee
		

		
			 
		

		
			The Buyer is not presently aware of anything that may justify a Claim.
		

		
			 
		

		
			8.          COMPENSATION
		

		
			 
		

		
			8.1        Compensation principle
		

		
			 
		

		
			8.1.1     With effect from today's date, the Seller agrees to pay the Buyer, according to the methods and subject to the reserves expressed in this Article 8, an amount equal to:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			the Guaranteed Percentage multiplied by the amount of the Damage suffered by the Company resulting from the inaccuracy of a Representation or from a fact or event prior to this date and in relation to which a Representation is inaccurate,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the Guaranteed Percentage multiplied by the amount of any Company expense or liability resulting or originating from a fact or event prior to the Reference Accounts Date, which has not been entered or for which an allowance has not been set aside in the Reference Accounts or which exceeds the amount entered or for which an allowance has been set aside in relation to that fact or event in the Reference Accounts, it being specified that this paragraph (b) will only apply if the amount of such expense or liability is not already included in an amount of Damage corresponding to a payment under paragraph (a) above,

		
			 
		

			
	
			
				 (c)
			

			
	
			
			the Guaranteed Percentage multiplied by the amount of any impairment of the Company's assets with respect to the amount entered in the Reference Accounts, if this impairment results or originates from a fact or event prior to the Reference Accounts Date, it being specified that this paragraph (c) will only apply if the amount of such asset impairment is not already included in an amount of Damage corresponding to a payment under paragraph (a) above, and

		
			 
		

			
	
			
				 (d)
			

			
	
			
			the amount of the Damage suffered by the Buyer resulting from the inaccuracy of one of the Representations made in Articles 6.1, 6.2, 6.3, 6.4, 6.5.1 and 6.5.2 or from a fact or event in relation to which such a Representation is inaccurate.

		
			 
		

		
			
		

		
			

		 

 

		

			29

		

8.1.2     Any reference to the term Damage in the rest of this Article 8 will, where applicable, include the amount of any expense or liability referred to in Article 8.1.1(b) or any asset impairment referred to in Article 8.1.1(c).
		

		
			 
		

		
			8.1.3     Article 8.1.1(c) will not apply to any tangible fixed asset or to any goodwill entered in the Reference Accounts and the Seller will not therefore be liable for any sum under this Article with respect to the amount entered in the Reference Accounts for assets of this kind, except if the Company no longer holds a legitimate right of ownership over that kind of asset.
		

		
			 
		

		
			8.1.4     Any payment under this Article 8 will, notably for the purposes of any Tax, constitute a reduction in the Price commensurate with that payment and, if the total amount of payments with respect to a case of Damage referred to in Article 8.1.1(d) should exceed the Price, that payment will serve as compensation (but, in this case, only for the proportion exceeding the Price).
		

		
			 
		

		
			8.2        Specific compensation
		

		
			 
		

		
			8.2.1     With effect from this date, in accordance with the terms and subject to the conditions of this Agreement, and notwithstanding any information disclosed to the Buyer under this Agreement or its Annexes, whether prior to this date or in accordance herewith, the Seller agrees to pay the Buyer an amount equal to the Damage suffered by the Company as a result of:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			a claim for damages by (i) a Company employee performing or having performed inventive and/or creative duties within the Company or (ii) a Company officer, consultant or service provider whom the Company has entrusted with inventive and/or creative duties and/or software development duties, on account of the Company's use, prior to today's date, of creations and/or inventions and/or software developments arising from those duties for which the Intellectual Property Rights had not been lawfully transferred to the Company;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the procedure commenced by the Directorate-General for Competition, Consumer Affairs and Repression of Fraud (DGCCRF) which resulted in a report dated 17 February 2014 highlighting misleading commercial practices and price reduction announcements quoting an incorrect reference price;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			irregularities in the return concerning the contribution on business added value ("cotisation sur la valeur ajoutée des entreprises") filed on 30 April 2015 with respect to the year 2014;

		
			 
		

			
	
			
				 (d)
			

			
	
			
			the failure to file the single tax form ("imprimé fiscal unique") for the year ended 31 December 2014;

		
			 
		

			
	
			
				 (e)
			

			
	
			
			the late filing of the DAS2 form for the year ended 31 December 2014; and

		
			 
		

			
	
			
				 (f)
			

			
	
			
			possible claims by the supplier mentioned in Annex 6.18.4 concerning the Company's breach of its obligations towards that supplier in relation to the period ending on this date.

		
			 
		

		
			8.2.2     The amounts owed under Article 8.2.1 will be subject to the limits indicated in Article 8.6.
		

		
			 
		

		
			8.2.3     With effect from today's date, in accordance with the terms and subject to the conditions of this Agreement, and notwithstanding any information disclosed to the Buyer under this Agreement or its Annexes, whether prior to this date or in accordance herewith, the Seller also agrees to pay the Buyer an amount equal to the Damage suffered by the Company as a result of the 
		

		
			 
		

		
			
		

		
			

		 

 

		

			30

		

Company not managing, in the Normal Course of Business, to clear the Stocks within a maximum period of one year as from the Reference Accounts Date and, therefore, not achieving a gross book value for those residual Stocks of a maximum 15% of their gross book value as indicated in the Reference Accounts, it being specified that the Buyer has not carried out a physical audit of the Stocks.
		

		
			 
		

		
			Where applicable, this Damage will be calculated in accordance with Article 8.3.3.
		

		
			 
		

		
			Notwithstanding any stipulation to the contrary, the Buyer's payment commitment under this Article 8.2.3 will be limited to an amount of one million euros (€1,000,000).
		

		
			 
		

		
			The limits specified in Article 8.6 will not apply to the amount owed under this Article 8.2.3, it being further specified, insofar as is necessary, that no amount owed under this Article 8.2.3 will be taken into account in determining whether any of the limits specified in Article 8.6 have been reached.
		

		
			 
		

		
			8.3        Calculation of Damage
		

		
			 
		

		
			8.3.1     In calculating the amount owed by the Seller under this Article 8 in relation to a case of Damage, account will be taken of:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			the amount of any allowance or any other liability entered in the Reference Accounts (including any allowance or depreciation entered to determine the net value of an asset item) which proves after the date of this Agreement to be overestimated or unfounded,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the amount of any payment or compensation that has actually been recovered by the Buyer or the Company, as applicable, from an insurer or from a third party in relation to that Damage, net of any Tax attributable to that compensation or payment and net of the costs and expenses incurred on account of that payment or compensation,

		
			 
		

			
	
			
				 (c)
			

			
	
			
			the amount by which any Tax owed by the person suffering the Damage has actually been reduced on account of such Damage (excluding any increase in the amount of tax losses that can be carried forward),

		
			 
		

			
	
			
				 (d)
			

			
	
			
			if this amount is owed under Article 8.1.1(a), the amount of any allowance set aside in the Reference Accounts in respect of the fact or event behind that Damage, net of any Tax attributable to the carrying forward of that allowance,

		
			 
		

			
	
			
				 (e)
			

			
	
			
			if this amount is owed under Article 8.1.1(b) or under Article 8.1.1(c), the decrease in any Company liability with respect to the amount entered in the Reference Accounts if this decrease results or originates from a fact or event prior to the Reference Accounts Date, and (ii) the increase in any Company asset, subject to the stipulations of Article 8.1.3, resulting or originating from a fact or event prior to the Reference Accounts Date, and which has not been entered or which exceeds the amount entered in relation to that fact or event in the Reference Accounts, in each case net of any Tax attributable to that decrease in liability or increase in asset, and on the understanding that any such deduction will only be applied if, on the date on which the Buyer sends its request for payment under this Article 8, in a Claim or Additional Claim, this decrease in liability or increase in asset has been duly recorded in the Company's certified annual accounts, and (iii) to avoid any ambiguity, only once for the same decrease in liability or increase in asset,

		
			 
		

		
			it being specified that if, with respect to the same Damage, the application of paragraphs (a) to (e) above means that the same sum can be deducted several times, it will be deducted only once.
		

		
			 
		

		
			
		

		
			

		 

 

		

			31

		

Furthermore, no Claim against the Seller will be allowed if it is the result of:
		

		
			 
		

		
			a change in the Company's accounting principles and methods after the present date; or
		

		
			 
		

		
			the entry into force or amendment, after the present date, of any Laws and Regulations.
		

		
			 
		

		
			Moreover, it is expressly agreed that these guarantees are not a guarantee of the valuation made by the Buyer of the Company. In particular, no multiple or any other valuation method chosen by the Buyer to determine the Price will be applied in calculating the amount owed by the Seller to the Buyer on the basis of Article 8. This amount will be calculated solely by reference to the Damage actually suffered by the Company (or by the Buyer in the case described in Article 8.1.1(d)).
		

		
			 
		

		
			8.3.2     As regards Damage in relation to Tax, the Parties also agree that the Seller will only be held responsible under this Article 8 in relation to a Tax adjustment which results solely in Tax being moved from one year to the next, if the Company is obliged to pay penalties or late payment interest because of this, in which case the amount of the Damage for which the Buyer will be entitled to claim under this Article 8 (subject to the other stipulations of this Article 8) will be limited to the amount of these penalties or late payment interest.
		

		
			 
		

		
			8.3.3     If the specific compensation provided for in Article 8.2.3 is activated, the Damage corresponding to this compensation will be considered equal to (i) the total cost of the reductions offered by the Company to clear the remaining Stocks until, if possible, the gross book value of those residual Stocks reaches the 15% threshold indicated in Article 8.2.3, (ii) minus any allowances for stocks contained in the Reference Accounts.
		

		
			 
		

		
			8.4        Exceptions
		

		
			 
		

		
			The Seller will not be responsible under Article 8.1 exclusively in relation to the elements expressly revealed in the Annexes to which reference is made in Article 6, from which an exemption will be granted provided that such exemption has not been ruled out or limited by the Parties by means of an express clause to the contrary, it being understood that an exemption will only be granted from an element revealed in a given Annex with respect to the Representation relating specifically to that Annex.
		

		
			 
		

		
			
		

		
			

		 

 

		

			32

		

8.5        Time period
		

		
			 
		

		
			8.5.1     The Buyer will not be bound by any particular time period in which to notify a Claim based on the inaccuracy of one of the Representations made in Articles 6.1, 6.2, 6.3, 6.4, 6.5.1 and 6.5.2 other than the ordinary limitation period. Subject to this reservation and subject to the stipulations of Article 8.9, any Claim under this Article 8 must be notified by the following dates:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			as regards any Tax Claim based on the inaccuracy of any Representation: by 31 March 2019;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			as regards any Claim based on the inaccuracy of the Representation made in Article 6.21.6, by 31 December 2018;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			as regards any Claim based on Article 8.2.1, before the expiry of the limitation period applicable to the Third Party Claims in question, plus three months,

		
			 
		

			
	
			
				 (d)
			

			
	
			
			as regards any other Claim, before the expiry of a period of eighteen (18) months starting from this date.

		
			 
		

		
			8.5.2     If the Buyer has submitted a Claim before the expiry of the time period applicable to that Claim, the latter will be deemed to suspend the limitation period in relation to that Claim, and the Claim and the Seller's obligations under this Article 8 with respect to the facts or circumstances that gave rise to that Claim will survive until that Claim has been finally settled (where applicable, in the case of Damage that, on the date of that Claim, is only possible or uncertain both in principle or in terms of amount, once that Damage has actually been suffered).
		

		
			 
		

		
			8.6        Limits
		

		
			 
		

		
			Subject to the stipulations of Article 8.9, the Seller will not be required to:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			pay any amount in respect of Damage where the amount that would be owed by the Seller under Article 8.1 in respect of that Damage does not exceed ten thousand (10,000) euros, it being understood that (i) Damage resulting from the same operative event will be aggregated to determine whether that amount has been reached and that (ii) if this amount is reached, the total amount of the corresponding Damage, and not simply the portion exceeding that amount, will be owed by the Seller (subject to the stipulations of Articles 8.6(b) and 8.6(c)),

		
			 
		

			
	
			
				 (b)
			

			
	
			
			pay any amount until the aggregate amount owed by the Seller under Article 8.1. exceeds a threshold of three hundred thousand (300,000) euros, it being understood that if this threshold is reached, the Seller will only be liable for the portion of that aggregate amount that exceeds that threshold  (subject to the stipulations of Article 8.6(c)),

		
			 
		

			
	
			
				 (c)
			

			
	
			
			pay, in respect of all Claims made in accordance with Article 8.1, an aggregate amount greater than five million (5,000,000) euros.

		
			 
		

		
			8.7        Minimisation of Damage
		

		
			 
		

		
			The Buyer undertakes both for itself and for the Company for which it acts as guarantor to take all reasonable measures to avoid and limit any Damage that may give rise to a Claim under this Article 8.
		

		
			 
		

		
			
		

		
			

		 

 

		

			33

		

 
		

		
			8.8        Possible or uncertain damage
		

		
			 
		

		
			Notwithstanding any stipulation in this Agreement, the Seller will not be liable for any Damage that is merely possible or uncertain, whether in principle or in terms of amount, until that Damage has actually been sustained.
		

		
			 
		

		
			8.9        Exceptions to limits
		

		
			 
		

		
			None of the limits stipulated in Articles 8.5 and 8.6 will apply in the event of fraud or a Claim based on the inaccuracy of one of the Representations made in Articles 6.1, 6.2, 6.3, 6.4, 6.5.1, 6.5.2, 6.9.1(c)(i), 6.9.1(c)(iv) and 6.9.2. No amount paid or owed by the Seller in the event of fraud or Claim based on the inaccuracy of one of the Representations made in Articles 6.1, 6.2, 6.3, 6.4, 6.5.1, 6.5.2, 6.9.1(c)(i), 6.9.1(c)(iv) and 6.9.2 will be taken into account in determining whether any of the limits indicated in Article 8.6 has been reached.
		

		
			 
		

		
			8.10       Distribution of the sums owed in relation to a Claim
		

		
			 
		

		
			As an internal rule, the companies jointly called the "Seller" agree to distribute between them the sums owed in relation to a Claim in proportion to the share of the Reference Price that they each receive.
		

		
			 
		

		
			8.11       Buyer's Claims
		

		
			 
		

		
			8.11.1    To make any claims ("Claim") under this Article 8, the Buyer must notify the Seller within thirty (30) Working Days of learning about facts or a Third Party Claim which may give rise to the application of this Article 8 or, in the case of a Third Party Claim arising from a competent Tax Authority, within ten (10) Working Days of that Third Party Claim being received by the competent Tax Authority and within five (5) Working Days, in the case of urgent proceedings.
		

		
			 
		

		
			8.11.2   This Claim must indicate (i) the underlying facts or events, (ii) the basis for the Claim and (iii) the amount of the payment claimed by the Buyer under that Claim if that amount is known. If the Claim does not specify the amount of the payment claimed by the Buyer under that Claim, the Buyer will have the right to lodge one or more additional claims (each an "Additional Claim") requesting payment by the Seller once the amount of the Damage suffered by the Buyer or the Company is known (in whole or in part). As from the moment of receiving the Claim, the Buyer will, on request, provide the Seller and its advisers, under the same conditions as those offered to the internal auditor but without disrupting the smooth operation of the Company, with access to all documents concerning the Claim in question.
		

		
			 
		

		
			8.11.3   The Seller (i) acknowledges that the Buyer will be deemed to have lodged a Claim on the present date in relation to all facts or events referred to in Article 8.2 and (ii) hereby acknowledges, insofar as is necessary, that this Claim is well founded.
		

		
			 
		

		
			8.12     Third Party Claims
		

		
			 
		

		
			8.12.1   If a Claim originates from a third party claim (a "Third Party Claim"), the Buyer must take - or ensure that the Company takes - all reasonable measures to challenge that Third Party Claim and to defend it in a diligent manner. The Buyer must ensure that the Seller is informed, at regular intervals, about how the Third Party Claim and the defence of that claim is progressing, and the Seller may make observations about the defence of that Third Party Claim, in consultation with the advisers of its choice and acting at its own expense. The Buyer must ensure that no amicable settlement is accepted or concluded, without the Seller's prior written consent (which cannot be refused, made subject to conditions or delayed without reasonable legitimate grounds).
		

		
			 
		

		
			
		

		
			

		 

 

		

			34

		

8.12.2   As regards any Third Party Claim originating from a competent Tax Authority, if the Seller wants to apply for a payment extension allowed in accordance with the Laws and Regulations, the Buyer must, at the Seller's written request, ensure that the Company applies for this payment extension, it being understood that, in this case, at the Buyer's choice, the Seller must either furnish, at its expense, the competent Tax Authorities with any guarantees requested in connection with that payment extension or compensate the Buyer and the Company for any cost or expense reasonably incurred by the Buyer and/or the Company in furnishing such a guarantee.
		

		
			 
		

		
			8.13      Effect of breach
		

		
			 
		

		
			Breach by the Buyer of its obligations under Articles 8.11 and 8.12 in relation to a Claim will not cause the Buyer to lose its rights under Article 8 in relation to that Claim and the underlying facts or circumstances, but, in that case, the Buyer may be liable to compensate the Seller if this breach has caused harm to the Seller but only to the extent of the harm caused by such breach.
		

		
			 
		

		
			Notwithstanding the foregoing, any delay in lodging a Claim which exceeds the time period applicable for such a Claim under Article 8.11.1 by more than thirty (30) Working Days will cause the Buyer to lose its rights under Article 8 in relation to that Claim and the underlying facts or circumstances, provided and on condition that such delay has prevented the Seller from putting forward its arguments or adopting a position that would have enabled it to mitigate substantially or avoid the Damage in question.
		

		
			 
		

		
			8.14      Recovery
		

		
			 
		

		
			8.14.1   If the Buyer or the Company has the right to recover from a third party a sum corresponding to the Damage relating to a Claim, the existence of that right will not affect the Buyer's right to lodge a Claim or Additional Claim in respect of that Damage and will not delay the date on which the Seller is required to pay the amount owed with respect to that Claim in accordance with Article 8.
		

		
			 
		

		
			8.14.2   Any amount actually recovered, net of Tax and of the costs and expenses of recovery reasonably incurred by the Buyer or the Company (including a premium increase resulting from a claim made under an insurance policy) will be deducted from the amount that can be claimed from the Seller, and if that only takes place after the Seller has paid any amount under this Article 8, the Buyer must then, within thirty (30) Working Days, repay the Seller an amount determined in such a way as to put the Parties in the position that they would have been in if this amount actually recovered had been taken into account in determining the amount to be paid by the Seller under this Article 8.
		

		
			 
		

		
			8.15      No double compensation
		

		
			 
		

		
			The Buyer cannot obtain payment from the Seller under this Agreement more than once with respect to the same Damage.
		

		
			 
		

		
			
		

		
			

		 

 

		

			35

		

8.16      Payment
		

		
			 
		

		
			Payment of any sum owed by the Seller to the Buyer with respect to a Claim made under this Article 8 must be effected within thirty (30) Working Days of (i) the date of the Claim or Additional Claim in relation to which payment of that sum is requested, or (ii) if the Seller has objected in writing within thirty (30) Working Days of receiving the corresponding Claim, the date on which the amount owed by the Seller has been determined at the end of a settlement between the Buyer and the Seller or a final decision issued by a competent court.
		

		
			 
		

		
			8.17      Additional payment in the case of exercise of a Promise
		

		
			 
		

		
			If one of the Promises is to be exercised (the "Exercised Promise") and if, before the date on which that Promise is exercised (the "Exercise Date"), the Buyer has lodged a Claim or Additional Claim the amount of which is a function, in whole or in part, of the Guaranteed Percentage (a "Claim Concerned"), then:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			if, before the Exercise Date, the Claim Concerned has given rise to a payment by the Seller or to a settlement or court decision referred to in Article 8.16 (the amount of such payment or the amount determined as being owed by the Seller according to such settlement or court decision being hereinafter called the "Initial Amount"), the Seller will pay the Buyer a sum (the "Additional Amount") equal to the difference between (i) the amount that would have been paid or owed to the Buyer if the Initial Amount had been determined on the basis of a Guaranteed Percentage equal to 100% and (ii) the Initial Amount;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			in the opposite situation, the amount of the Claim Concerned will be automatically adjusted upwards to take account of a Guaranteed Percentage equal to 100%, which the Buyer can confirm by lodging an Additional Claim with the Seller.

		
			 
		

		
			The payment described in paragraph (a) above will take place on the first of the following two dates: (i) the "Execution Date", as defined in the terms of the Exercised Promise or (ii) the thirtieth (30th) Working Day following the Exercise Date. If the Buyer so requests, this payment may be made by setoff against any sum owed by the buyer of the balance of the Shares under the Exercised Promise, it being specified in this case that (i) the Buyer and the buyer of the balance of the Shares (if two different persons) will be responsible for the distribution between themselves of the benefit of the Additional Amount and (ii) the companies jointly called the "Seller" will be responsible for the distribution between themselves of the burden of that amount.
		

		
			 
		

		
			9.          OTHER UNDERTAKINGS
		

		
			 
		

		
			9.1        Transitional Services and Studio Contract
		

		
			 
		

		
			Cdiscount will continue to provide the Company, for a period ending no later than 31 December 2015, with legal services (in particular, company secretariat and contract and dispute support services), accounting, financial and fiscal services (in particular, mandatory returns, account keeping, cash management, management control, reporting, budgetary control and dealings with banks), services in relation to IT, office automation and general resources (in particular, furniture, telephony, archives, etc.), recommendations on developing free traffic (SEO), human resources services (in particular, payroll management, mandatory declarations, recruitments, redundancies, monitoring of staff representation and organisation of elections, where applicable), logistics services (relations with ViaPost and supply management) and supply of equipment and furniture, all being services previously provided. These services will be charged (based on the gross salary plus contributions of the individuals concerned and the cost price of the equipment and furniture supplies) according to the breakdown contained in Annex 6.17.1 
		

		
			 
		

		
			
		

		
			

		 

 

		

			36

		

for the period starting on this date (it being understood that there is no remaining sum due by the Company in return for these services with respect to the period prior to today's date). If the Buyer so wishes, it may terminate these Transitional Services early.
		

		
			 
		

		
			Within ten (10) Working Days of the end of the provision of the company secretariat service mentioned above, Cdiscount (for which the Seller acts as guarantor) will hand over to the Buyer the original up-to-date minute books of the Company's management bodies and general meetings, as well as the corresponding attendance registers and sheets.
		

		
			 
		

		
			The amounts corresponding to the services supplied by Cdiscount to the Company under the Studio Contract for the period ending on the Reference Accounts Date have been fully entered in the Reference Accounts. These services for the period of August and September 2015 have been or will be charged and settled in the Normal Course of Business based on an estimated amount which has been notified to the Buyer prior to today's date.
		

		
			 
		

		
			9.2        Non-competing
		

		
			 
		

		
			9.2.1      Subject to Article 9.2.2, the Seller undertakes, both for itself and for (i) the other Members of the Seller's Group on the date of this Agreement and (ii) any other person becoming a Member of the Seller's Group before the expiry of this non-compete undertaking (for which the Seller acts as guarantor), that it will not directly or indirectly carry out or be economically involved in a Competing Activity for a period of three years starting from the present date. "Carry out or be economically involved in a Competing Activity" means carrying out, for its own benefit, a Competing Activity on one of the websites belonging to the Seller or one of the Members of the Seller's Group.
		

		
			 
		

		
			9.2.2      The stipulations of this Article will not however prevent the Seller or another Member of the Seller's Group from:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			operating or being involved in a "market place" via its websites, under which the site owner acts as intermediary;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			holding ordinary shares in a company whose shares are admitted to trading on a regulated market which, directly or indirectly, carries out or is economically involved in a Competing Activity, on condition that (i) these ordinary shares do not represent more than 5% of the total voting rights and share capital of that listed company and that (ii) the Seller or that other Member of the Seller's Group does not have, alone or with others, the right to appoint a representative (with or without voting rights) within a management or supervisory body of that company, or special governance or information rights on account of that shareholding, and does not Control that company with others;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			acquiring ordinary shares in a company whose shares are admitted to trading on a regulated market which, directly or indirectly, carries out or is economically involved in a Competing Activity, on condition (i) that the turnover of that company and of the companies that it Controls resulting from the Competing Activity does not exceed 5,000,000 euros and does not represent more than 15% of the total turnover of that company and (ii) if the acquisition involves Control of the company thus acquired, that the Seller or the Member of the Seller's Group, as applicable, ensures that Control of the Competing Activity thus acquired is transferred within one (1) year of the date on which the Seller or the Member of the Seller's Group, as applicable, acquires the ordinary shares referred to in this Article 9.2.2(c);

		
			 
		

			
	
			
				 (d)
			

			
	
			
			continuing those activities carried out on this date which correspond to the Competing Activity, i.e. only its online activity of selling ready-to-wear clothing or fashion 

		
			 
		

		
			
		

		
			

		 

 

		

			37

		

accessories for men, women, children or babies on the sites cdiscount.com,  cornerhomme.com,  moncornerkids.com and moncornerbaby.com,
		

		
			 
		

		
			provided, in the case of online selling of ready-to-wear clothing or fashion accessories for women, (i) these sales relate only to articles corresponding to the brands or supplies listed in Annex 9.2.2.(d) (except to sell the merchandise stock it owns on September 30, 2015) and (ii) the site cdiscount.com retains its current marketing positioning and editorial policy,
		

		
			 
		

		
			it being specified that the Seller is not permitted (and guarantees that the other Members of the Seller's Group will not be permitted) to, inter alia, (i) undertake any external growth operation involving a company or undertaking carrying out, directly or indirectly, a Competing Activity (except to the extent authorised under paragraph (b) above) and to (ii) create or develop any website with a Competing Activity other than the existing sites cornerhomme.com,  moncornerkids.com and moncornerbaby.com.
		

		
			 
		

		
			9.3        Non-solicitation
		

		
			 
		

		
			The Seller undertakes, both for itself and for the other Members of the Seller's Group for which it acts as guarantor, that it will not, for a period of two (2) years starting from the present date, solicit, directly or indirectly, an Important Employee with a view to recruiting that Important Employee (whether as an employee, officer or consultant), it being however understood (i) that any Member of the Seller's Group may freely solicit an Important Employee with a view to recruiting that person provided that he is no longer on that date an employee or officer of that Company or of another Member of the Buyer's Group and (ii) that this undertaking does not prevent the Seller or any other Member of the Seller's Group from reinstating Important Employees seconded within the Company when the supply agreements referred to in Article 6.21.2 have come to an end. For the avoidance of ambiguity, the public advertising of a non-personalised job offer is not regarded as solicitation.
		

		
			 
		

		
			9.4        Previous Agreements or Undertakings
		

		
			 
		

		
			9.4.1     Subject to Articles 9.4.2 and 9.4.3, the Seller will (i) retain the benefit and/or be personally responsible for exercising the rights that it or any of the Members of the Seller's Group hold, and will (ii) be solely responsible for and/or personally ensure the performance of the obligations incumbent upon it or upon any other Member of the Seller's Group under the Previous Agreements or Understandings, it being understood that no action or claim can be taken against the Buyer in this regard. The Seller will, in particular, remain responsible for and personally ensure payment of the price or any additional price that might be owed to the Previous Partners under the Previous Agreements or Undertakings.
		

		
			 
		

		
			9.4.2     The Company has and retains the benefit of all undertakings made in its favour under the Previous Agreements or Undertakings and, in particular, the non-competing, non-solicitation and non-recruitment undertakings contained in (i) Article 5 of the Previous Agreement, as repeated and amended by Article 7.2 of the 2014 Transfer Deed and (ii) the non-competing clause in Mr Nicolas Orofino's employment contract referred to in Article 7.1.1 of the 2014 Transfer Deed. The Seller represents and warrants that, for its part, the Company is not bound by any undertaking remaining incumbent upon it under the Previous Agreements or Undertakings, other than the obligation to pay any obligor under those non-competing, non-solicitation and non-recruitment undertakings the gross monthly non-competing indemnity agreed with that person in accordance with the aforementioned contractual stipulations, which obligation the Company is entitled to release itself from provided that the Company itself releases the obligor from those undertakings early.
		

		
			 
		

		
			
		

		
			

		 

 

		

			38

		

9.4.3     If the Previous Partners breach their non-competing, non-solicitation, non-recruitment, non-disparagement or confidentiality undertakings existing under the Previous Agreements or Undertakings, which causes or may reasonable cause harm to the Company and/or the Buyer, the Parties will keep each other informed and will cooperate with each other with a view to asserting, where necessary in court, the Company's and/or the Seller's right against the Previous Partners. Any sums or compensation obtained in this regard will be passed on to the Company and/or the Buyer, or shared with the Seller if the latter has itself suffered harm.
		

		
			 
		

		
			9.5        Supply of seconded employees
		

		
			 
		

		
			The contracts for the supply of employees referred to Article 6.21.2 will be continued after this date in accordance with the terms thereof. They will be renewed for a period expiring on 30 September 2016, unless they are terminated early at the request of either of the parties subject to giving a minimum of 3 months' notice. At the end of each of these contracts, the Seller will reinstate the employee concerned (or will ensure that each employee concerned re-joins the workforce of his employer), unless the Parties agree in writing that the employment contract of the employee concerned may possibly be transferred to the Company, to the Buyer or to another Member of the Buyer's Group.
		

		
			 
		

		
			9.6        Buyer's undertakings in relation to the management of the Company
		

		
			 
		

		
			9.6.1      With effect from the present date and until the Date of Determination of the Additional Price, the Buyer will:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			retain ownership, directly or via another Member of the Beneficiary's Group, of more than 50% of the Company's share capital and voting rights;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			not decide to wind up the Company;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			ensure that true and fair accounts of the Company's activities and operations are kept under its control and in accordance with the applicable Laws and Regulations and, until the date of closure of the 2017 Accounts, with the Accounting Principles.

		
			 
		

		
			9.6.2     Until 31 December 2017 (or, in the case of point (b) below, until the date of closure of the 2017 Accounts), the Buyer agrees that none of the following operations or decisions (an "Exceptional Operation") will be carried out by the Company or take effect in relation to the Company:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			merger, demerger, partial contribution of assets or other operation involving a universal transfer of assets;

		
			 
		

			
	
			
				 (b)
			

			
	
			
			change to the Accounting Principles applicable to the 2017 Accounts and having an impact on the determination of the Additional Price or change to the balance sheet date;

		
			 
		

		
			
		

		 

 

		

			39

		

			
	
			
				 (c)
			

			
	
			
			assignment, contribution or lease-management of all or part of its business;

		
			 
		

			
	
			
				 (d)
			

			
	
			
			disposal of any fixed asset with a unit value greater than 20,000 euros, unless the proceeds of disposal are reinvested for the purposes of replacing the assets disposed of with fixed assets of the same kind or any other productive investment;

		
			 
		

			
	
			
				 (e)
			

			
	
			
			change to the nature of the Company's activities, as currently described in the definition of Competing Activity;

		
			 
		

			
	
			
				 (f)
			

			
	
			
			cessation of trading by the Company;

		
			 
		

			
	
			
				 (g)
			

			
	
			
			diversion of all or part of the Company's turnover or volume of business to the Buyer or to another Member of the Buyer's Group, directly or indirectly, without the Buyer having previously discussed and agreed with the Seller on a supplementary amendment to this Agreement in order to amend the terms of Article 3.2 and/or other stipulations of the Agreement so that the (positive or negative) impact that such an operation would have on the determination of the Additional Price if no such amendment took place can be neutralised to the largest extent possible. Each Party will make its best efforts to draw up such a supplementary amendment in good faith.

		
			 
		

		
			9.7        Signing of the Market Place Contract
		

		
			 
		

		
			Cdiscount (for which the Seller acts as guarantor) and the Company (for which the Buyer acts as guarantor), will, within two (2) months of the present date, formalise a contract under which Cdiscount (and/or Cdiscount's subcontractors working under its responsibility) will, in 2016, carry out all IT developments and other services enabling the creation and commercial launch on the Company's website of a "market place" platform, for a fixed fee of €200,000 excluding VAT. The other main terms and conditions of that contract are contained in Annex 9.7 (the "Market Place Contract").
		

		
			 
		

		
			9.8         Formalisation of the occupancy agreements for the Bordeaux Bacalan and Paris sites
		

		
			 
		

		
			Banque Casino (for which the Seller acts as guarantor) and the Company (for which the Buyer acts as guarantor), will, within two (2) months of the present date, formalise a sub-occupancy agreement under which the Company will occupy part of the premises situated at 120/126, Quai de Bacalan, 33000 Bordeaux, taking effect on 1 October 2015, and will be able to serve notice to quit at any time subject to giving three (3) months' notice, for the occupancy rents and charges indicated in Annex 6.12.2 (it being understood that no other sum is payable by the Company for its occupation of these premises with respect to the period prior to the present date).
		

		
			 
		

		
			Unless the Buyer indicates that it no longer wishes to use the premises situated at 28 Rue d'Aboukir, 75002 Paris, Cdiscount (for which the Seller acts as guarantor) and the Company (for which the Buyer acts as guarantor), will, within two (2) months of the present date, formalise a sub-occupancy agreement under which the Company will occupy part of the above premises, taking effect on 1 October 2015, and will be able to serve notice to quit at any time subject to giving three (3) months' notice, for the occupancy rents and charges indicated in Annex 6.12.2 (it being understood that no other sum is payable by the Company for its occupation of these premises with respect to the period prior to the present date).
		

		
			 
		

		
			
		

		
			

		 

 

		

			40

		

9.9        Information and periodic meetings
		

		
			 
		

		
			For as long as neither of the Promises has been exercised, the Company (for which the Buyer acts as guarantor insofar as is necessary) will send the Seller:
		

		
			 
		

		
			(i) every month, within five (5) Working Days of the end of the previous month:
		

		
			 
		

		
			the Company's accounts (balance sheet and profit and loss account),
		

		
			 
		

		
			(ii) every month, within ten (10) Working Days of the end of the previous month:
		

		
			 
		

		
			a Web Turnover monitoring report,
		

		
			a Market Place Volume of Business monitoring report,
		

		
			a Stock disposal monitoring report.
		

		
			 
		

		
			Quarterly meetings will take place between the Buyer's and the Seller's representatives to exchange information and opinions on the Company's activities and principal management decisions.
		

		
			 
		

		
			As soon as one of the Promises has been exercised, the monthly information will no longer include the accounts or monitoring of Stocks (but the reports concerning Web Turnover and Market Place Volume of Business will continue to be sent every month within the time period specified above, up to and including with respect to December 2017).
		

		
			 
		

		
			10.        MISCELLANEOUS
		

		
			 
		

		
			10.1      Confidentiality
		

		
			 
		

		
			10.1.1   Subject to Article 10.1.2, the Parties undertake, both for themselves and, as far as the Seller is concerned, for the other Members of the Seller's Group and, as far as the Buyer is concerned, for the other Members of the Buyer's Group, for which they each act as guarantor respectively, to treat as strictly confidential any information received or obtained in relation to the negotiation or performance of this Agreement where such information concerns:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			the negotiation of this Agreement,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			the clauses or object of this Agreement, or

		
			 
		

			
	
			
				 (c)
			

			
	
			
			in the Seller's case, the Buyer or the other Members of the Buyer's Group, and, in the Buyer's case, the Seller or the other Members of the Seller's Group.

		
			 
		

		
			10.1.2    Each Party (or, as far as the Seller is concerned, the Members of the Seller's Group, and, as far as the Buyer is concerned, the Members of the Buyer's Group) may nonetheless disclose any confidential information in accordance with Article 10.1.1 if and to the extent that:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			such disclosure is required by the Laws and Regulations, or by the rules of a stock market on which its securities (or (i) those of one of the Members of the Seller's Group or of a person Controlling Cnova, as far as the Seller is concerned, or (ii) those of one of Members of the Buyer's Group or of a person Controlling the Buyer, as far as the Buyer is concerned), are listed, or by a decision or order made or issued by a competent Authority,

		
			 
		

			
	
			
				 (b)
			

			
	
			
			such information is disclosed confidentially to its advisers in connection with their duties as adviser in relation to the Operation,

		
			 
		

		
			
		

		 

 

		

			41

		

			
	
			
				 (c)
			

			
	
			
			such information is in the public domain and has not entered the public domain through breach of this Article,

		
			 
		

			
	
			
				 (d)
			

			
	
			
			such disclosure is necessary to enable that Party to exercise its rights under this Agreement,

		
			 
		

			
	
			
				 (e)
			

			
	
			
			such disclosure is made to one of its officers or employees or to an officer or employee of a Member of the Seller's Group or of a person Controlling Cnova, as far as the Seller is concerned, or of a Member of the Buyer's Group or of a person Controlling the Buyer, as far as the Buyer is concerned, who requires access to that information on account of his duties, or

		
			 
		

			
	
			
				 (f)
			

			
	
			
			the other Party has given its prior written consent to such disclosure,

		
			 
		

		
			it being nonetheless understood that no information can be disclosed under Article 10.1.2(a) until after consultation (to the extent allowed by the Laws and Regulations and as far as is practically feasible) with the other Party.
		

		
			 
		

		
			10.1.3   The confidentiality obligation specified in Article 10.1 will remain in force for a period of five (5) years starting from the present date.
		

		
			 
		

		
			10.1.4   In accordance with the foregoing stipulations, the Parties will consult with each other on the content of any press release concerning the signing of this Agreement or the execution of the Operation, as well as on the timing and manner in which this release will be published, and will make their best efforts to agree jointly on the terms of any such release.
		

		
			 
		

		
			10.2      Notices
		

		
			 
		

		
			10.2.1   Any correspondence or notice required or provided for under this Agreement must be given in writing by hand-delivered letter with advice of receipt, by registered letter with acknowledgement of receipt (or any equivalent process for international notices), by extrajudicial document, by courier or by fax or email confirmed by registered letter with acknowledgement of receipt (or any equivalent process for international notices), sent no later than the following Working Day, to the addresses given below, unless one Party has notified the other Party, in accordance with this Article, of a change of address:
		

		
			 
		

		
			Seller:
		

		
			 
		

		
			CDISCOUNT GROUP
		

		
			1 Esplanade de France — 42000 SAINT-ETIENNE
		

		
			For the attention of the Chairman
		

		
			Fax: [*]
		

		
			 
		

		
			FINANCIERE MSR
		

		
			120/126 Quai de Bacalan —33000 BORDEAUX
		

		
			For the attention of the Chairman
		

		
			Fax: [*]
		

		
			 
		

		
			
		

		
			

		 

 

		

			42

		

With a copy for the attention of the corporate legal department
		

		
			CDISCOUNT GROUP
		

		
			1 Esplanade de France — 42000 SAINT-ETIENNE
		

		
			For the attention of Mr [*]
		

		
			Email: [*]
		

		
			 
		

		
			Buyer:
		

		
			 
		

		
			MONOPRIX SAS
		

		
			14-16 Rue Marc Bloch, 92110 Clichy
		

		
			For the attention of the Chairman
		

		
			 
		

		
			With a copy for the attention of:
		

		
			 
		

		
			MONOPRIX SAS
		

		
			14-16 Rue Marc Bloch, 92110 Clichy
		

		
			For the attention of the Legal, Fiscal and Insurance Director
		

		
			Email: [*]
		

		
			Fax: [*]
		

		
			 
		

		
			10.2.2    Any correspondence or notices given under this Agreement will be deemed to have been received (i) on the date marked on the receipt by the addressee in the case of hand-delivered letter, (ii) on the date of first presentation where sent by registered letter with acknowledgement of receipt (or any equivalent process for international notices), (iii) on the date of handover to the addressee, as attested by the delivery receipt, where delivered by courier or (iv) on the date of sending where notice is given by fax or email subject to confirmation by registered letter with acknowledgement of receipt (or any equivalent process for international notices) sent no later than the following Working Day.
		

		
			 
		

		
			10.3      Transfer - Restructuring
		

		
			 
		

		
			10.3.1   Neither of the Parties may, without the prior written consent of the other Party, assign or transfer all or some of its rights or obligations under  this Agreement, it being nonetheless understood that the Agreement may be transferred to any person who takes over from a Party following a merger, demerger, contribution subject to the regulations on demergers or other operation involving a universal transfer of assets of the Party in question. It is specified in this regard that Cdiscount Group is already considering an operation involving a universal transfer of Financière MSR's assets or merger with the latter, of which it is the sole member, in its favour, which the Buyer accepts and waives its right to raise any objection in that regard.
		

		
			 
		

		
			10.3.2   Any assignment or other transfer of all or part of the Company's shares or assets, or any merger, demerger, partial contribution of assets or other similar restructuring operation involving the Company (including in the event of winding-up of the Company and universal transfer of its assets) after the present date will not affect the Buyer's rights or the Seller's obligations under this Agreement.
		

		
			 
		

		
			10.4      Costs - Registration duties
		

		
			 
		

		
			The Parties will each bear the costs and expenses that they have incurred in the preparation, negotiation and, unless otherwise specified, performance of this Agreement, including any costs, fees and disbursements of advisers (lawyers, investment banks, accountants and others). The Seller will assume all adviser costs, fees and disbursements which might be incurred by the Company in connection with the Operation, the signing of the Promises or their execution, and will compensate the Company for those expenses that it has already incurred or which it 
		

		
			 
		

		
			
		

		
			

		 

 

		

			43

		

will subsequently incur. The Buyer will assume the registration duties pertaining to the transfer of the Transferred Shares.
		

		
			 
		

		
			10.5      Whole agreement
		

		
			 
		

		
			This Agreement (as well as the contracts and document signed or to be signed in accordance or in connection herewith, including the Promises), constitutes the whole and only agreement between the Parties with respect to the object hereof and supersedes any previous agreement relating to the same object.
		

		
			 
		

		
			10.6      Amendment - Waiver
		

		
			 
		

		
			No amendment or alteration of this Agreement and no waiver of any of the stipulations hereof will be effective unless it is formalised in a written document signed by each of the Parties (or the Party concerned in the case of waiver). Any waiver by a Party of the right to invoke one of its rights under the Agreement in a specific case will not constitute a waiver of the right to invoke that right in another case or waiver of the right to invoke any other right hereunder.
		

		
			 
		

		
			10.7      Independence of clauses
		

		
			 
		

		
			If one of the clauses of this Agreement should be declared null and void for any reason whatsoever, the other clauses hereof will be unaffected. In this case, the Parties agree to negotiate in good faith in order to replace that clause with a valid clause giving effect to the Parties' intentions as far as possible.
		

		
			 
		

		
			11.        APPLICABLE LAW - JURISDICTION
		

		
			 
		

		
			11.1      Applicable law
		

		
			 
		

		
			This Agreement will be governed by and construed in accordance with French law.
		

		
			 
		

		
			11.2      Jurisdiction
		

		
			 
		

		
			Any dispute arising from or in relation to this Agreement will be subject to the exclusive jurisdiction of the Paris Commercial Court.
		

		
			 
		

		
			Executed at Paris,
		

		
			 
		

		
			30 September 2015
		

		
			 
		

		
			In four (4) original copies:
		

		
			 
		

		
			
		

		
			

		 

 

		

			44

		

CDISCOUNT GROUP SAS
		

		
			 
		

		
			By Monsieur Emmanuel Grenier
		

		
			 
		

		
			 
		

		
			FINANCIERE MSR SAS
		

		
			 
		

		
			By Monsieur Emmanuel Grenier
		

		
			 
		

		
			 
		

		
			MONOPRIX SAS
		

		
			 
		

		
			By: Mr David Murciano and/or Mr Yvon Le Forestier
		

		
			 
		

		
			 
		

		
			E-TREND SAS
		

		
			 
		

		
			By Monsieur Emmanuel Grenier

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