Change in Tax Law - ISDA Provision: Difference between revisions

Change in Tax Law - ISDA Provision (view source)

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 {{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:
+So one mild observation here is that this definition of a “{{isdaprov|Change in Tax Law}}” does not specifically mention, you know, ''[[tax]]'' [[per se]]. Which at first glance is odd.
+This transpires not to matter, though, seeing as {{isdaprov|Change in Tax Law}} appears only twice in the {{2002ma}}, and in each case the context  in which it appears 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.
+{{sa}}
+*{{isdaprov|Indemnifiable Tax}}
+*{{isdaprov|Tax Event}}