Schedule Payer Tax Representations - ISDA Provision

2002 ISDA Master Agreement
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[[{{{1}}} - 1992 ISDA Provision|This provision in the 1992]]

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Section Schedule 2(a) in a Nutshell™

Use at your own risk, campers!

Schedule 2(a) Payer Tax Representations. Under Section 3(e) each party makes the following representation: It is not required by any applicable law, or governmental practice in any Relevant Jurisdiction to deduct or withhold any Tax from any payment (other than interest under Section 9(h)) due by it to the other party. In making this representation, it may rely on: (i) the accuracy of any Payee Tax Representation from the other party; (ii) the other party providing tax documents as required under Section 4(a) and those documents being effective; and (iii) the other party telling it if its Payee Tax Representations are not accurate, as is required under Section 4(d); It will not be a breach of this representation to rely on clause (ii) above where the other party does not deliver a Section 4(a)(iii) document by reason of material prejudice to its legal or commercial position. view template

Full text of Section Schedule 2(a)

Schedule 2(a) Payer Tax Representations. For the purpose of Section 3(e), Party A and Party B each makes the following representation: It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Section 9(h) of this Agreement) to be made by it to the other party under this Agreement. In making this representation, it may rely on (i) the accuracy of any representations made by the other party pursuant to Section 3(f) of this Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by the other party pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of this Agreement, except that it will not be a breach of this representation where reliance is placed on clause (ii) above and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice to its legal or commercial position. view template

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Click here* for the text of Section Schedule 2(a) in the 1992 ISDA* Click to compare* this section in the 1992 ISDA and 2002 ISDA*.

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