Template:Nutshell 2002 ISDA Payer Tax Representations

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 Section 3(f) representations from the other party;

(ii) the satisfaction of the Section 4(a)(i) or 4(a)(iii) agreement and the effectiveness of any Section 4(a)(i) or 4(a)(iii) documents from the other party; and

(iii) the satisfaction of the other party’s Section 4(d) agreement;

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.