Template:Isda Change in Tax Law summ

So one mild observation here is that this definition of a “{{{{{1}}}|Change in Tax Law}}” does not specifically mention, you know, tax per se. Which at first glance is odd.

This transpires not to matter, though, seeing as {{{{{1}}}|Change in Tax Law}} appears only twice in the 2002 ISDA, and in each case the context in which it appears is very specific to tax. They are:

• Section {{{{{1}}}|2(d)}}(4)(B) (which deals with exclusions to the general requirement to gross up for {{{{{1}}}|Indemnifiable Tax}}es; and
• Section {{{{{1}}}|5(b)(iii)}} ({{{{{1}}}|Tax Event}}s), defining things that count as {{{{{1}}}|Tax Event}}s by making an {{{{{1}}}|Affected Party}} more likely to suffer an {{{{{1}}}|Indemnifiable Tax}}.

The provisions surrounding gross up and termination and Indemnifiable Taxes are some of the most (linguistically) complicated in the ISDA Master Agreement, by the way.