Template:M summ 2002 ISDA Indemnifiable Tax: Difference between revisions

Revision as of 15:59, 22 June 2023

Without wishing to be overly negative^[1], this one truly comes from the "wow" file in indefensible drafting:

... other than a tax which would not be imposed but for...

Not only a triple negative, but since ISDA’s definition of Tax already contains a negative (being any tax that isn’t a Stamp Tax) and “Indemnifiable Tax” is itself often used in the negative (e.g. “a tax which is not an Indemnifiable Tax”) — or even double negative (e.g. “other than a tax which is not an Indemnifiable Tax”) in the body of the ISDA Master Agreement. That makes it a sextuple negative. Beat that ISLA.

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-{{Withholding under ISDA|isdaprov}}
+===Negatives, negatives, everywhere ===
+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:
+:... ''other than'' a tax which would ''not'' be imposed ''but for''...
+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]].