Template:Withholding under ISDA

The combination of the Payer Tax Representations and the Gross-Up clause of the ISDA has the following effect:

• Section 3(e): I promise you that I do not have to withhold on my payments to you (as long as all your Payee Tax Representations are correct and you have given me all the information I need under Section 4(a) to pay free of withholding);
• Section 2(d): I will not withhold on any payments to you. Unless I am required to by law. Which I kind of told you I wasn't... If I have to withhold, I'll pay the tax the authorities and give you the receipt. If I only had to withhold because of something personal to me, I'll gross you up.