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| {{ISDAnumberingdiscrepancy}} | | {{newisdamanual|Combined Tax Event}} |
| {{isdasnap|Tax Event}}
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| {{isdasnap2|5(b)(ii)|5(b)(iii)}}
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| ===Commentary===
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| 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:
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| {{quote|A "'''{{isdaprov|Tax Event}}'''" is a {{isdaprov|Termination Event}} whereby, following a change in tax law or practice after any trade date, an "{{isdaprov|Affected Party}}" is likely to have to either
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| :(1) [[Gross Up]] an {{isdaprov|Indemnifiable Tax}} deduction or
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| :(2) receive a payment net of {{isdaprov|Tax}} which the {{isdaprov|Non-Affected Party}} is not required to Gross Up.}}
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| 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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| {{quote|
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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}}.}}
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| {{isdaanatomy}}
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