The undersigned hereby applies for Primary Membership in the International Swaps and Derivatives Association, Inc., and if admitted to Primary Membership agrees:

1. to comply with the terms of the ISDA By-laws, Member Competition Policy, Member Confidentiality Policy, and such rules and regulations as may be promulgated from time to time by the Association's Board of Directors;
2. to pay such dues, assessments and other charges in the manner and amount as shall from time to time be fixed by the Board of Directors pursuant to the ISDA By-laws; and
3. to comply with Article III, Section 3 of the ISDA By-laws which states that any member may terminate its membership in the Association at the end of any calendar year by giving written notice, prior to the end of such calendar year, of its intention to resign its membership.

I/We hereby certify that the statements made herein are true and complete. I/We understand that if false information is given in this application or there are omissions of material facts, admission to Primary Membership in the International Swaps and Derivatives Association, Inc., will automatically be denied and that if such admission has been previously granted, such false information will be grounds for expulsion.

Governing Law and Remedies. This Agreement will be governed by and construed in accordance with the laws of the State of New York (without reference to its choice of law principles). If ISDA institutes an action to recover any sums owed by the member, then ISDA shall, if it is the prevailing party, be entitled to recover its reasonable attorney’s fees and expenses thereby incurred.