Template:Nutshell 2002 ISDA 5(b)(iii)
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- 5(b)(iii) Tax Event is a Termination Event whereby, following a change in tax law or practice after any trade date, an Affected Party is likely to have to either:
- (1) Gross up an Indemnifiable Tax deduction; or
- (2) receive a payment net of Tax which the Non-Affected Party is not required to gross up.