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Template:Withholding under ISDA: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "The combination of the Payer Tax Representations and the Gross-Up clause of the ISDA has the following effect: *'''Section {{isdaprov|3(e)}}''': I promise you that I do not ha...") |
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The combination of the Payer Tax Representations and the Gross-Up clause of the | The combination of the {{isdaprov|Payer Tax Representations}} and the {{isdaprov|Gross-Up}} clause of the {{isdama}} has the following effect: | ||
*'''Section {{isdaprov|3(e)}}''': I promise you that I do not have to withhold on my payments to you (as long as all your {{isdaprov|Payee Tax Representations}} are correct and you have | *'''Section {{isdaprov|3(e)}}''': I promise you that I do not have to withhold on my payments to you (as long as all your {{isdaprov|Payee Tax Representations}} are correct and you have, under Section {{isdaprov|4(a)}}, given me everything I need to pay free of withholding); | ||
*'''Section {{isdaprov|2(d)}}''': I will not withhold on any payments to you. Unless I am required to by law. Which I kind of told you I wasn't... If I have to withhold, I'll pay the tax the authorities and give you the receipt. If I only had to withhold because of | *'''Section {{isdaprov|2(d)}}''': I will not withhold on any payments to you. Unless I am required to by law. Which I kind of told you I wasn't... If I have to withhold, I'll pay the tax the authorities and give you the receipt. If I only had to withhold because of my connection to the taxing jurisdiction (that is, if the withholding is an {{isdaprov|Indemnifiable Tax}}), I'll gross you up. (You should look at the drafting of {{gmslaprov|Indemnifiable Tax}}, by the way. It's quite a marvel). | ||