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Tax Event - ISDA Provision: Difference between revisions
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:(2) receive a payment net of {{isdaprov|Tax}} which the {{isdaprov|Non-Affected Party}} is not required to Gross Up.}} | :(2) receive a payment net of {{isdaprov|Tax}} which the {{isdaprov|Non-Affected Party}} is not required to Gross Up.}} | ||
Not such a bastard after all, then. | Not such a bastard after all, then. In the context of CCP, you typically add a third limb, which is along the lines of | ||
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:(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}} | {{isdaanatomy}} | ||