[Title 17 CFR 229.103]
[Code of Federal Regulations (annual edition) - April 1, 2007 Edition]
[Title 17 - COMMODITY AND SECURITIES EXCHANGES]
[Chapter II - SECURITIES AND EXCHANGE COMMISSION]
[Part 229 - STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES]
[Subpart 229.100 - Business]
[Sec. 229.103 - (Item 103) Legal proceedings.]
[From the U.S. Government Printing Office]


17COMMODITY AND SECURITIES EXCHANGES22007-04-012007-04-01false229.103Sec. 229.103COMMODITY AND SECURITIES EXCHANGESSECURITIES AND EXCHANGE COMMISSIONSTANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIESBusiness
Sec. 229.103  (Item 103) Legal proceedings.

    Describe briefly any material pending legal proceedings, other than 
ordinary routine litigation incidental to the business, to which the 
registrant or any of its subsidiaries is a party or of which any of 
their property is the subject. Include the name of the court or agency 
in which the proceedings are pending, the date instituted, the principal 
parties thereto, a description of the factual basis alleged to underlie 
the proceeding and the relief sought. Include similar information as to 
any such proceedings known to be contemplated by governmental 
authorities.

Instructions to Item 103: 1. If the business ordinarily results in 
actions for negligence or other claims, no such action or claim need be 
described unless it departs from the normal kind of such actions.
    2. No information need be given with respect to any proceeding that 
involves primarily a claim for damages if the amount involved, exclusive 
of interest and costs, does not exceed 10 percent of the current assets 
of the registrant and its subsidiaries on a consolidated basis. However, 
if any proceeding presents in large degree the same legal and factual 
issues as other proceedings pending or known to be contemplated, the 
amount involved in such other proceedings shall be included in computing 
such percentage.
    3. Notwithstanding Instructions 1 and 2, any material bankruptcy, 
receivership, or similar proceeding with respect to the registrant or 
any of its significant subsidiaries shall be described.

[[Page 414]]

    4. Any material proceedings to which any director, officer or 
affiliate of the registrant, any owner of record or beneficially of more 
than five percent of any class of voting securities of the registrant, 
or any associate of any such director, officer, affiliate of the 
registrant, or security holder is a party adverse to the registrant or 
any of its subsidiaries or has a material interest adverse to the 
registrant or any of its subsidiaries also shall be described.
    5. Notwithstanding the foregoing, an administrative or judicial 
proceeding (including, for purposes of A and B of this Instruction, 
proceedings which present in large degree the same issues) arising under 
any Federal, State or local provisions that have been enacted or adopted 
regulating the discharge of materials into the environment or primary 
for the purpose of protecting the environment shall not be deemed 
``ordinary routine litigation incidental to the business'' and shall be 
described if:
    A. Such proceeding is material to the business or financial 
condition of the registrant;
    B. Such proceeding involves primarily a claim for damages, or 
involves potential monetary sanctions, capital expenditures, deferred 
charges or charges to income and the amount involved, exclusive of 
interest and costs, exceeds 10 percent of the current assets of the 
registrant and its subsidiaries on a consolidated basis; or
    C. A governmental authority is a party to such proceeding and such 
proceeding involves potential monetary sanctions, unless the registrant 
reasonably believes that such proceeding will result in no monetary 
sanctions, or in monetary sanctions, exclusive of interest and costs, of 
less than $100,000; provided, however, that such proceedings which are 
similar in nature may be grouped and described generically.