From The Jolly Contrarian
Jump to navigation
Jump to search
|
|
| (14 intermediate revisions by the same user not shown) |
| Line 1: |
Line 1: |
| {{isdasnap|Indemnifiable Tax}}
| | #redirect[[Tax Event - ISDA Provision]] |
| ====Commentary====
| |
| Without wishing to be overly negative, this one truly comes from the "wow" file in indefensible drafting:
| |
| | |
| {{box|... ''other than'' a tax which would ''not'' be imposed ''but for''... }}
| |
| | |
| Not only a triple negative, but since ISDAs definition of ’{{isdaprov|Tax}} already contains a negative (it excludes {{isdaprov|Stamp Tax}}) and “{{isdaprov|Indemnifiable Tax}}” is itself often used in the negative (e.g. “a tax which is {{isdaprov|not}} an {{isdaprov|Indemnifiable Tax}}”) — or even ''[[double negative]]'' (e.g. “''other than''
| |
| a tax which is not an {{isdaprov|Indemnifiable Tax}}”) in the body of the {{isdama}}. That makes it a '''''sextuple negative'''''. Quite a literary feat.
| |
| | |
| A need to know version is this:
| |
| {{nuts|ISDA|Indemnifiable Tax}}
| |
| {{Withholding under ISDA}}
| |
| | |
| {{Withholding under ISDA}}
| |
| | |
| ====See Also====
| |
| See in particular Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}).
| |
| {{isdaanatomy}}
| |
Latest revision as of 13:43, 15 August 2024