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Template:Nutshell 2002 ISDA 2(d): Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{isdaprov|2(d)}} '''{{isdaprov|Deduction or Withholding for Tax}}'''. :(i) {{isdaprov|Gross-Up}}. The parties must pay without withholding unless required by law. Where a pay...") |
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::(4) if it is an {{isdaprov|Indemnifiable Tax}}, gross the payment up to ensure that the recipient actually receives the full amount it would otherwise have received (free of {{isdaprov|Indemnifiable Taxes}}). However, the payer will not have to gross up any withholding that would not have been needed paid but for:— | ::(4) if it is an {{isdaprov|Indemnifiable Tax}}, gross the payment up to ensure that the recipient actually receives the full amount it would otherwise have received (free of {{isdaprov|Indemnifiable Taxes}}). However, the payer will not have to gross up any withholding that would not have been needed paid but for:— | ||
:::(A) the recipient failing to provide tax information as per Section {{isdaprov|4(a)}}, or breaching any {{isdaprov|Payee Tax Representation}}s; or | :::(A) the recipient failing to provide tax information as per Section {{isdaprov|4(a)}}, or breaching any {{isdaprov|Payee Tax Representation}}s; or | ||
:::(B) any of the recipient's Payee Tax Reps failing to be accurate other than because of (I) any regulatory action taken after a {{isdaprov|Transaction}} is entered into or (II) a {{ | :::(B) any of the recipient's Payee Tax Reps failing to be accurate other than because of (I) any regulatory action taken after a {{isdaprov|Transaction}} is entered into or (II) a {{isdaprov|Change in Tax Law}}. <br> | ||