Template:ISDA Master Agreement 1992 5(b)(ii): Difference between revisions
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:[[Tax Event - ISDA Provision|5(b)(ii)]] '''{{isda92prov|Tax Event}}'''. Due to | :[[Tax Event - 1992 ISDA Provision|5(b)(ii)]] '''{{isda92prov|Tax Event}}'''.<ref>{{linebreaks}}</ref> Due to: | ||
::(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a {{isda92prov|Transaction}} is entered into (regardless of whether such action is taken or brought with respect to a party to this {{isda92prov|Agreement}}) or | ::(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a {{isda92prov|Transaction}} is entered into (regardless of whether such action is taken or brought with respect to a party to this {{isda92prov|Agreement}}) or | ||
::(y) a {{isda92prov|Change in Tax Law}}, | ::(y) a {{isda92prov|Change in Tax Law}}, | ||
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::(1) be required to pay to the other party an additional amount in respect of an {{isda92prov|Indemnifiable Tax}} under Section 2(d)(i)(4) (except in respect of interest under Section {{isda92prov|2(e)}}, {{isda92prov|6(d)(ii)}} or {{isda92prov|6(e)}}) or | ::(1) be required to pay to the other party an additional amount in respect of an {{isda92prov|Indemnifiable Tax}} under Section 2(d)(i)(4) (except in respect of interest under Section {{isda92prov|2(e)}}, {{isda92prov|6(d)(ii)}} or {{isda92prov|6(e)}}) or | ||
::(2) receive a payment from which an amount is required to be deducted or withheld for or on account of a {{isda92prov|Tax}} (except in respect of interest under Section {{isda92prov|2(e)}}, {{isda92prov|6(d)(ii)}} or {{isda92prov|6(e)}}) and no additional amount is required to be paid in respect of such {{isda92prov|Tax}} under Section {{isda92prov|2(d)(i)(4)}} (other than by reason of Section {{isda92prov|2(d)(i)(4)}}(A) or (B)); <br> | ::(2) receive a payment from which an amount is required to be deducted or withheld for or on account of a {{isda92prov|Tax}} (except in respect of interest under Section {{isda92prov|2(e)}}, {{isda92prov|6(d)(ii)}} or {{isda92prov|6(e)}}) and no additional amount is required to be paid in respect of such {{isda92prov|Tax}} under Section {{isda92prov|2(d)(i)(4)}} (other than by reason of Section {{isda92prov|2(d)(i)(4)}}(A) or (B)); <br> | ||
Latest revision as of 10:24, 25 February 2020
- 5(b)(ii) Tax Event.[1] Due to:
- (x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or
- (y) a Change in Tax Law,
- the party (which will be the Affected Party) will, or there is a substantial likelihood that it will, on the next succeeding Scheduled Payment Date
- (1) be required to pay to the other party an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) or
- (2) receive a payment from which an amount is required to be deducted or withheld for or on account of a Tax (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B));
- ↑ The line breaks are for comprehension and do not appear in the original