Tax Event - ISDA Provision: Difference between revisions

Tax Event - ISDA Provision (view source)

34 bytes removed , 14 November 2017

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+{{fullanat2|isda|5(b)(iii)|2002|5(b)(ii)|1992}}
 {{ISDAnumberingdiscrepancy}}
-{{isdasnap|Tax Event}}
+Note, unhelpfully, the subpara reference in the {{1992ma}} is (1) and (2) and in the {{2002ma}} is (A) and (B). Note, also unhelpfully, that this paragraph is a bastard to understand. Let’s have a look then:
-{{isdasnap2|5(b)(ii)|5(b)(iii)}}
-===Commentary===
-Note, unhelpfully, the subpara reference in the {{1992ma}} is (1) and (2) and in the {{2002ma}} is (A) and (B). Note, also unhelpfully, that this paragraph is a bastard to understand. Let's have a look then:
 {{nuts|ISDA|Tax Event}}
-Not such a bastard after all, then. In the context of CCP, you typically add a third limb, which is along the lines of
+Not such a bastard after all, then. In the context of {{tag|CCP}}, you typically add a third limb, which is along the lines of
-{{box|
+:''(3) required to make a deduction from a payment under an {{swapclearprov|Associated LCH Transaction}} where no corresponding Gross Up amount is required under the corresponding {{isdaprov|Transaction}} Payment under this {{isdaprov|Agreement}}.}}''
-:(3) required to make a deduction from a payment under an {{swapclearprov|Associated LCH Transaction}} where no corresponding Gross Up amount is required under the corresponding {{isdaprov|Transaction}} Payment under this {{isdaprov|Agreement}}.}}
-{{isdaanatomy}}