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Change in Tax Law - ISDA Provision: Difference between revisions
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{{isdaanat|Change in Tax Law}} | {{isdaanat|Change in Tax Law}} | ||
So one mild observation here is that this definition does not specifically reference, you know, ''[[tax]]'' [[per se]]. This transpires not to matter one whit, though, seeing as Change in Tax Law appears only twice in the {{2002ma}}, and in each case the context is very specific to tax. They are: | |||
*Section {{isdaprov|2(d)}}(4)(B) (which deals with exclusions to the general requirement to [[gross up]] for {{isdaprov|Indemnifiable Tax}}es; and | |||
*Section {{isdaprov|5(b)(iii)}} ({{isdaprov|Tax Event}}s), defining things that count as {{isdaprov|Tax Event}}s by making an {{isdaprov|Affected Party}} more likely to suffer an {{isdaprov|Indemnifiable Tax}}. | |||
The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the {{isdama}}, by the way. | |||