FORM OF UNCONDITIONAL UNDERTAKING

Posted on June 21, 2008

FORM OF UNCONDITIONAL UNDERTAKING
(FOR ASSOCIATE MEMEBRSHIP OF CLEARING HOUSE)

 

In pursuance to the Regulations Governing Associate Membership of ISE Clearing House of the Islamabad Stock Exchange (Guarantee) Limited, we having our registered office at hereby undertake and bind ourselves as under:

1. That we undertake to comply the requirements under the Regulations Governing Associate Membership of ISE Clearing House.
2. That we agree to conduct only COT transactions through our associate Membership of Clearing House.
3. That we understand our Associate Membership does not confer any trading rights on the Exchange.
4. That we undertake to conduct all our COT transactions through a Member of the Exchange within their approved Capital Adequacy limits.
5. That we undertake to fulfill all our obligations as laid down under the Regulations viz-a-viz the Exchange as well as the Members of the Exchange through whom we will be conducting our day-to-day trading operations on the Exchange.

Yours faithfully,

Chief Executive/Authorized         person                               Common Seal of the Company