Template:Nutshell 2002 ISDA 5(b)(iii): Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) m Amwelladmin moved page Template:Nutshell ISDA Tax Event to Template:Nutshell 2002 ISDA 5(b)(iii) |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
:[[Tax Event - ISDA Provision|5(b)(iii)]] '''{{isdaprov|Tax Event}}''' | :[[Tax Event - ISDA Provision|5(b)(iii)]] '''{{isdaprov|Tax Event}}''' It will be a {{isdaprov|Termination Event}} when, following a change in tax law or practice after any trade date, an {{isdaprov|Affected Party}} is likely to have to either: | ||
::(1) [[Gross up]] an {{isdaprov|Indemnifiable Tax}} deduction; or | ::(1) [[Gross up]] an {{isdaprov|Indemnifiable Tax}} deduction; or | ||
::(2) receive a payment net of {{isdaprov|Tax}} which the {{isdaprov|Non-Affected Party}} is not required to [[gross up]]. | ::(2) receive a payment net of {{isdaprov|Tax}} which the {{isdaprov|Non-Affected Party}} is not required to [[gross up]]. | ||
Revision as of 11:45, 2 August 2018
- 5(b)(iii) Tax Event It will be a Termination Event when, following a change in tax law or practice after any trade date, an Affected Party is likely to have to either:
- (1) Gross up an Indemnifiable Tax deduction; or
- (2) receive a payment net of Tax which the Non-Affected Party is not required to gross up.