Rule 111

Payment of Fees

a. All payments of fees for registration statements under the Act shall be made by wire transfer, or by certified check, bank cashiers check, United States postal money order, or bank money order payable to the Securities and Exchange Commission, omitting the name or title of any official of the Commission. There will be no refunds. Payment of fees required by this section shall be made in accordance with the directions set forth in 202.3a of this chapter.

b. Notwithstanding paragraph (a) of this section, for registration statements filed pursuant to Rule 462(b) and Rule 110(d), payment of filing fees for the purposes of this section may be made by:

1. The registrant or its agent instructing its bank or a wire transfer service to transmit to the Commission the applicable filing fee by a wire transfer of such amount from the issuer's account or its agent's account to the Commission's account at Mellon Bank as soon as practicable but no later than the close of the next business day following the filing of the registration statement; and

2. The registrant submitting with the registration statement at the time of filing a certification that:

i. The registrant or its agent has so instructed its bank or a wire transfer service;

ii. The registrant or its agent will not revoke such instructions; and

iii. The registrant or its agent has sufficient funds in such account to cover the amount of such filing fee.

Note to paragraph (b): Such instructions may be sent on the date of filing the registration statement after the close of business of such bank or wire transfer service, provided that the registrant undertakes in the certification sent to the Commission with the registration statement that it will confirm receipt of such instructions by the bank or wire transfer service during regular business hours on the following business day.