Change in Tax Law - ISDA Provision: Difference between revisions

Latest revision as of 15:27, 6 June 2023

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-{{manual|MI|2002|Change in Tax Law|Section|Change in Tax Law|medium}}
+#redirect[[Tax Event and Change in Tax Law - ISDA Provision]]
-So one mild observation here is that this definition of a “{{isdaprov|Change in Tax Law}}” does not specifically mention, you know, ''[[tax]]'' [[per se]]. Which at first glance is odd.
-This transpires not to matter, though, seeing as {{isdaprov|Change in Tax Law}} appears only twice in the {{2002ma}}, and in each case the context  in which it appears is very specific to tax. They are:
-*Section {{isdaprov|2(d)}}(4)(B) (which deals with exclusions to the general requirement to [[gross up]] for {{isdaprov|Indemnifiable Tax}}es; and
-*Section {{isdaprov|5(b)(iii)}} ({{isdaprov|Tax Event}}s), defining things that count as {{isdaprov|Tax Event}}s by making an {{isdaprov|Affected Party}} more likely to suffer an {{isdaprov|Indemnifiable Tax}}.
-The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the {{isdama}}, by the way.
-{{sa}}
-*{{isdaprov|Indemnifiable Tax}}
-*{{isdaprov|Tax Event}}