Indemnifiable Tax - ISDA Provision: Difference between revisions

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{{fullanat2|isda|Indemnifiable Tax|1992|Indemnifiable Tax|2002}}
#redirect[[Tax Event - ISDA Provision]]
====Commentary====
Without wishing to be overly negative, this one truly comes from the "wow" file in indefensible drafting:
 
:... ''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}}
 
====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