Payment of Stamp Tax - ISDA Provision: Difference between revisions

Revision as of 22:17, 23 February 2020

2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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[[{{{1}}} - 1992 ISDA Provision|This provision in the 1992]]

Index: Click ᐅ to expand: 2002 ISDA 1992 ISDA

Section 4(e) in a Nutshell™

Use at your own risk, campers!

4(e) Payment of Stamp Tax. Unless incurred closing out a Transaction against a Defaulting Party (as to that, see Section 11), it will pay any Stamp Tax it incurs performing this Agreement by reason of it being in a Stamp Tax Jurisdiction, and will indemnify the other party against any such Stamp Tax that that party suffers, unless the jurisdiction in question also happens to be a Stamp Tax Jurisdiction for that other party. view template

Full text of Section 4(e)

4(e) Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax levied or imposed upon it or in respect of its execution or performance of this Agreement by a jurisdiction in which it is incorporated, organised, managed and controlled or considered to have its seat, or where an Office through which it is acting for the purpose of this Agreement is located (“Stamp Tax Jurisdiction”), and will indemnify the other party against any Stamp Tax levied or imposed upon the other party or in respect of the other party’s execution or performance of this Agreement by any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the other party. view template

Related agreements and comparisons

Click here* for the text of Section 4(e) in the 1992 ISDA* Click to compare* this section in the 1992 ISDA and 2002 ISDA*.

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Other than a modicum of clerical tidy-up, the 1992 ISDA version of Section 4(e) is exactly the same as Section 4(e) in the 2002 ISDA version.

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-{{isdaanat|4(e)}}{{isdaanat|Stamp Tax}}
+{{manual|MI|2002|4(e)|Section|4(e)|short}}
-Other than a modicum of clerical tidy-up, the {{1992ma}} provision is exactly the same.
-Basically, if there is any {{isdaprov|Stamp Tax}} imposed because of my existence or residence in a certain jurisdiction, whether imposed on me or you, I'll pay it, unless it would have been imposed on you too. If we're both in the same {{isdaprov|Stamp Tax Jurisdiction}}, the liability lies where it falls.