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*'''Refund obligation where tax subsequently levied''': if a counterparty pays gross and subsequently is levied the tax, the recipient must refund an equivalent amount to the tax. | *'''Refund obligation where tax subsequently levied''': if a counterparty pays gross and subsequently is levied the tax, the recipient must refund an equivalent amount to the tax. | ||
*'''{{isdaprov|Indemnifiable Tax}}''': the one exception is “{{isdaprov|Indemnifiable Tax}}” - this is tax arises as a result of the payer’s own status vis-à-vis the withholding jurisdiction. In that case the payer has to gross up, courtesy of a magnificent [[quintuple negative]]. | *'''{{isdaprov|Indemnifiable Tax}}''': the one exception is “{{isdaprov|Indemnifiable Tax}}” - this is tax arises as a result of the payer’s own status vis-à-vis the withholding jurisdiction. In that case the payer has to gross up, courtesy of a magnificent [[quintuple negative]]. | ||
====Stamp Tax covered elsewhere==== | |||
{{isdaprov|Stamp Tax}} reimbursement obligations are covered at {{isdaprov|4(e)}}, not here. | |||
==== Differences between {{1992ma}} and {{2002 ma}}==== | |||
There’s no great [https://jollycontrarian.com/index.php?title=User%3AAmwelladmin&type=revision&diff=20900&oldid=20899 difference] between the {{2002ma}} and the {{1992ma}}: [[File:2(d)(i).png|thumb|left|450px|The differences between the {{2002ma}} and the {{1992ma}}]] <br> | There’s no great [https://jollycontrarian.com/index.php?title=User%3AAmwelladmin&type=revision&diff=20900&oldid=20899 difference] between the {{2002ma}} and the {{1992ma}}: [[File:2(d)(i).png|thumb|left|450px|The differences between the {{2002ma}} and the {{1992ma}}]] <br> | ||
Both are excruciating in the conveyance of a fairly simple idea, which, in a {{nutshell}} is this: | Both are excruciating in the conveyance of a fairly simple idea, which, in a {{nutshell}} is this: | ||
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Make you feel great to be alive, doesn’t it. I bet you wish it could be simplified. Here: let [[me]] have a go. | Make you feel great to be alive, doesn’t it. I bet you wish it could be simplified. Here: let [[me]] have a go. | ||
{{nuts|ISDA|Gross-Up}} | {{nuts|ISDA|Gross-Up}} | ||
{{Withholding under ISDA}} | {{Withholding under ISDA}} |