Tax Event - 1992 ISDA Provision

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1992 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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Definition of 5(b)(ii) in a Nutshell

Use at your own risk, campers!

Full text of Definition of 5(b)(ii)

5(b)(ii) Tax Event.[1] Due to:
(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or
(y) a Change in Tax Law,
the party (which will be the Affected Party) will, or there is a substantial likelihood that it will, on the next succeeding Scheduled Payment Date
(1) be required to pay to the other party an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) or
(2) receive a payment from which an amount is required to be deducted or withheld for or on account of a Tax (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B));

Related agreements and comparisons

Related Agreements
Click here for the text of Section 5(b)(ii) in the 2002 ISDA
Template:Isdadiff 5(b)(ii)

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Content and comparisons

Template:M comp disc 1992 ISDA 5(b)(ii)



Template:M summ 1992 ISDA 5(b)(ii)


See also

Template:M sa 1992 ISDA 5(b)(ii)



  1. The line breaks are for comprehension and do not appear in the original