From The Jolly Contrarian
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| {{isdaanat|Indemnifiable Tax}}
| | #redirect[[Tax Event - ISDA Provision]] |
| {{Withholding under ISDA}}
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| ==={{isdaprov|Stamp Tax}}es are not {{isdaprov|Indemnifiable Taxes}}===
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| {{isdaprov|Stamp Tax}}es are not {{isdaprov|Indemnifiable Taxes}}. They are covered by Section {{isdaprov|4(e)}} and not the general gross-up in Section {{isdaprov|2(d)}}. They are not covered by {{isdaprov|Payee Tax Representations}}.
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| ===Negatives, negatives, everywhere ===
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| Without wishing to be overly [[negative]]<ref>All right, I ''do'' wish to be overly negative. It’s in my nature.</ref>, this one truly comes from the "wow" file in indefensible drafting:
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| :... ''other than'' a tax which would ''not'' be imposed ''but for''...
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| Not only a [[triple negative]], but since ISDA’s definition of {{isdaprov|Tax}} already contains a negative (being any tax that isn’t a {{isdaprov|Stamp Tax}}) and “{{isdaprov|Indemnifiable Tax}}” is itself often used in the negative (e.g. “a tax which is [[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]]'''. Beat ''that'' [[ISLA]].
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| {{sa}}
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| *Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}).
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| {{ref}}
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Latest revision as of 13:43, 15 August 2024