Tax Event - ISDA Provision: Difference between revisions

Tax Event - ISDA Provision (view source)

21 bytes added , 2 August 2018

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 [[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:
+Note, also unhelpfully, that this paragraph is a bastard to understand. Have a gander at the JC’s nutshell version and you’ll see it is 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
-{{nuts|ISDA|Tax Event}}
+:''(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}}.}}''
-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}}.}}''