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Indemnifiable Tax - ISDA Provision: Difference between revisions
Indemnifiable Tax - ISDA Provision (view source)
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{{isdasnap|Indemnifiable Tax}} | {{isdasnap|Indemnifiable Tax}} | ||
====Commentary==== | ====Commentary==== | ||
From the " | From the "wow" file in truly indefensible derivatives drafting: | ||
{{box|... ''other than'' a tax which ''would'' not be imposed ''but for''.. | {{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 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. | ||