Indemnifiable Tax - ISDA Provision: Difference between revisions

Indemnifiable Tax - ISDA Provision (view source)

157 bytes added , 31 October 2016

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 {{isdasnap|Indemnifiable Tax}}
 ====Commentary====
-From the "wow" file in truly indefensible derivatives drafting:
+Without wishing to be overly negative, this one truly comes from the "wow" file in indefensible drafting:
 {{box|... ''other than'' a tax which would ''not'' be imposed ''but for''... }}
-Not only a triple negative, but since the expression {{isdaprov|Indemnifiable Tax}} is itself often used in the negative  (ie ''a tax which is not an {{isdaprov|Indemnifiable Tax}}'') - and even ''double'' negative (ie ''{{isdaprov|other than}} a tax which is not an {{isdaprov|Indemnifiable Tax}}'') in the body of the {{isdama}}. That makes it a '''''quintuple negative'''''. Quite a literary feat.
+Not only a triple negative, but since ISDAs definition of ’{{isdaprov|Tax}} already contains a negative (it excludes {{isdaprov|Stamp Tax}}) and “{{isdaprov|Indemnifiable Tax}}” is itself often used in the negative (e.g. “a tax which is {{isdaprov|not}} an {{isdaprov|Indemnifiable Tax}}”) — or even ''[[double negative]]'' (e.g. “''other than''
+a tax which is not an {{isdaprov|Indemnifiable Tax}}”) in the body of the {{isdama}}. That makes it a '''''sextuple negative'''''. Quite a literary feat.
 A need to know version is this: