Deduction or Withholding for Tax - ISDA Provision: Difference between revisions
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{{tocbuilder|ISDA|2002|2(d)}} | {{tocbuilder|ISDA|2002|2(d)}} | ||
====Commentary==== | ====Commentary==== | ||
You can revel in the full heft of these provisions in below. Observant and diligent scholars will notice that the {{1992ma}} and the {{2002ma}} versions of this clause, more or less, identical. Observant and less obedient scholars will remark how much of a | You can revel in the full heft of these provisions in below. Observant and diligent scholars will notice that the {{1992ma}} and the {{2002ma}} versions of this clause, more or less, identical. Observant and less obedient scholars will remark how much of a pig’s ear the ISDA drafting committee can make of drafting a relatively simple concept and, given a once-in-a-decade opportunity to improve its first attempt in the {{1992ma}}, how in 2002 the combined intellectual might of ISDA, its members, friends and relations, and their divers [[mediocre lawyer|counsel]], retinue and entourage, couldn’t | ||
This is, therefore, the apex of all possible derivatives drafting. Especially the triple negative in {{isdaprov|Indemnifiable Tax}}. Make you feel great to be alive, | This is, therefore, the apex of all possible derivatives drafting. Especially the triple negative in {{isdaprov|Indemnifiable Tax}}. Make you feel great to be alive, doesn’t it. I bet you wish it could be simplified. Here: let *me* have a go. | ||
{{nuts|ISDA|Gross-Up}} | {{nuts|ISDA|Gross-Up}} |