Template:Isda Tax Event Upon Merger summ: Difference between revisions

Template:Isda Tax Event Upon Merger summ (view source)

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-This is you can imagine, a red letter day for {{icds}} who quite outdid itself in the complicated permutations for how to terminate an {{isdama}} should there be a {{isdaprov|Tax Event}} or a {{isdaprov|Tax Event Upon Merger}}. Things kick off in Section {{isdaprov|6(b)(ii)}} and it really just gets better from there on in.<ref>It doesn’t.</ref>
+This is you can imagine, a red letter day for {{icds}} who quite outdid itself in the complicated permutations for how to terminate an {{isdama}} should there be a {{isdaprov|Tax Event}} or a {{{{{1}}}|Tax Event Upon Merger}}. Things kick off in Section {{isdaprov|6(b)(ii)}} and it really just gets better from there.
+So, {{{{{1}}}|Tax Event Upon Merger}} considers the scenario where the coming together of two entites — we assume they hail from different jurisdictions or at least have different practical tax residences — has an unfortunate effect on the tax status of payments due by the merged entity under an ''existing'' {{{{{1}}}|Transaction}}.
+It introduces a new and unique concept — the “{{isdaprov|Burdened Party}}”, being the one who gets slugged with the tax — and who may or may not be the “{{isdaprov|Affected Party}}” — in this case the one subject to the merger.