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Tax Event - ISDA Provision: Difference between revisions
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{{fullanat2|isda|5(b)(iii)|2002|5(b)(ii)|1992}} | {{fullanat2|isda|5(b)(iii)|2002|5(b)(ii)|1992}} | ||
{{ISDAnumberingdiscrepancy}} | {{ISDAnumberingdiscrepancy}} | ||
Note, unhelpfully, the subpara reference in the {{1992ma}} is (1) and (2) and in the {{2002ma}} is (A) and (B). Note, also unhelpfully, that this paragraph is a bastard to understand. Let’s have a look then: | Note, unhelpfully, the subpara reference in the {{1992ma}} is (1) and (2) and in the {{2002ma}} is (A) and (B). Otherwise, pretty much the same: | ||
[[File:Tax Event.png|450px|thumb|center|That was worth waiting a decade for, then, wasn't it.]] | |||
Note, also unhelpfully, that this paragraph is a bastard to understand. Let’s have a look then: | |||
{{nuts|ISDA|Tax Event}} | {{nuts|ISDA|Tax Event}} | ||
Not such a bastard after all, then. In the context of {{tag|CCP}}, you typically add a third limb, which is along the lines of | Not such a bastard after all, then. In the context of {{tag|CCP}}, you typically add a third limb, which is along the lines of | ||
:''(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}}.}}'' | :''(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}}.}}'' | ||