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Subjunctive: Difference between revisions
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This issue has, presently, defeated the very [[Magic circle law firm|finest professional wordsmiths in the English language]]. They resort to such toe-curling conditionals as this:<ref>Okay okay, I might be exaggerating ''un peu''.</ref> | This issue has, presently, defeated the very [[Magic circle law firm|finest professional wordsmiths in the English language]]. They resort to such toe-curling conditionals as this:<ref>Okay okay, I might be exaggerating ''un peu''.</ref> | ||
{{quote| | {{quote|“The issuer represents that it is: | ||
: | :(i) an entity established within the European Union and accordingly shall [[from time to time]] [[for the time being]] be [[deemed]] to be, and therefore shall, for such aforementioned times be, a [[non-financial counterparty]] ([[for the purposes of]] and as such term is defined in EU [[EMIR]]) and | ||
: | :(ii) an entity established outside the United Kingdom and therefore not subject to UK [[EMIR]] but that, [[to the best of its knowledge and belief]], having given due and proper consideration to its status, would [[constitute]] a [[non-financial counterparty]] (as such term is defined in UK [[EMIR]]) ''were'' it to be established in the United Kingdom, which it is not, and were UK [[EMIR]] to apply to it, which it does, [[from time to time]] and [[for the time being]], not. | ||
Furthermore the issuer covenants that, for so long as this Agreement is in [[full force and effect]] it will do nothing to breach the aforementioned [[representation]]s regarding the status it has under EU [[EMIR]] and the status it would have under UK [[EMIR]] were it actually to be subject to UK [[EMIR]], which it is, for the time being, not.”}} | |||
If you can summon the mental fortitude it is always worth fighting this kind of drafting, especially since it presents an opportunity to use the word “subjunctive” | If you can summon the mental fortitude it is always worth fighting this kind of drafting, especially since it presents an opportunity to use the word “subjunctive” | ||
{{quote| | {{quote|“The Issuer represents that its status under EMIR is as a “[[non-financial counterparty]]” and its ''subjunctive'' status under UK EMIR is as a “[[non-financial counterparty]]”.”}} | ||
Look; it probably won’t catch on. But at least we won’t die wondering. | Look; it probably won’t catch on. But at least we won’t die wondering. | ||
{{sa}} | {{sa}} | ||