Tax Event Upon Merger - 1992 ISDA Provision

1992 ISDA Master Agreement
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Index — Click ᐅ to expand: 1992 ISDA

Section 5(b)(iii) in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 1992 ISDA 5(b)(iii) view template

Full text of Section 5(b)(iii)

5(b)(iii) Tax Event Upon Merger. The party (the “Burdened Party”) on the next succeeding Scheduled Payment Date will either (1) be required to pay 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 has been deducted or withheld for or on account of any Indemnifiable Tax in respect of which the other party is not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either case as a result of a party consolidating or amalgamating with, or merging with or into, or transferring all or substantially all its assets to, another entity (which will be the Affected Party) where such action does not constitute an event described in Section 5(a)(viii); view template