Common use of Branches Clause in Contracts

Branches. Section 6.2.8 of the Cnova Disclosure Schedule sets forth all branches and establishments of Cnova Brazil and its Subsidiaries existing on the date hereof. Except as would not reasonably be expected to be material to Cnova Brazil and its Subsidiaries (other than Cnova Finança), taken as whole, all establishments and branches of Cnova Brazil and its subsidiaries were duly opened, validly exist, are in good standing in all aspects under all applicable Laws and are duly registered with the applicable Governmental Entities.