IM-11130. Standard Forms of "When, As and If Issued" or "When, As and If Distributed" Contract

If this contract was made on a national securities exchange, it shall be subject to and governed by the requirements of such exchange, its constitution, rules, practices and interpretations thereof, relating to contracts between members of such exchange, as the same may be amended or modified from time to time.

If this contract was made elsewhere than on a national securities exchange, it shall be subject to and governed by the requirements of the National Association of Securities Dealers, Inc., its By-Laws, Rules, Uniform Practice Code and interpretations thereof as the same may be amended or modified from time to time.

This contract shall be settled and payment therefor made at such time and place, in such manner, and by the delivery of such securities and/or other property as the exchange or association to whose requirements this contract is subject in its sole discretion may determine, or shall be canceled and thereafter shall be null and void if such exchange or association determines in its sole discretion that the securities which are to be issued or distributed are not substantially the same as those contemplated in the contract. During the pendency of this contract either party shall have the right to call for a mark to the market, and upon failure of the other party to comply therewith the party not in default may close this contract in accordance with the requirements of the exchange or association to whose requirements this contract is subject.

(b) For use by a dealer (principal) and his customer covering transactions on a principal basis

"When, as and if Issued" or "When, as and if Distributed" Contract
TO __________________________________________________________________________
I/we have sold to you/purchased from you __________________ , shares/par value _________________ at __________________ . These securities shall be payable and deliverable "when, as and if issued" or "when, as and if distributed," or this contract shall be cancelable in accordance with the requirements of the National Association of Securities Dealers, Inc., its By-Laws, Rules, Uniform Practice Code, applicable rules and interpretations thereunder and amendments thereof.
I/we shall have the right to demand deposits according to such requirements. On your failure to comply therewith, we may close the contract in accordance with such requirements.
	______________________________________________
	(Firm Signature)
Accepted:
____________________________________________
(Signature of Customer)