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Indemnifiable Tax - ISDA Provision: Difference between revisions
Indemnifiable Tax - ISDA Provision (view source)
Revision as of 12:52, 12 April 2016
, 12 April 2016→Commentary
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{{isdasnap|Indemnifiable Tax}} | {{isdasnap|Indemnifiable Tax}} | ||
====Commentary==== | ====Commentary==== | ||
From the "Wow" file in truly indefensible derivatives drafting: | |||
{{box|... {{isdaprov|other than}} a tax which {{isdaprov|would}} not be imposed {{isdaprov|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. | |||
A need to know version is this: | A need to know version is this: | ||
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{{Withholding under ISDA}} | {{Withholding under ISDA}} | ||
====See Also==== | ====See Also==== | ||
See in particular Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}). | See in particular Section {{isdaprov|2(d)}} ({{isdaprov|Deduction or Withholding for Tax}}). | ||
{{isdaanatomy}} | {{isdaanatomy}} | ||