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Template:Nutshell 2002 ISDA 2(d)(ii): Difference between revisions
Template:Nutshell 2002 ISDA 2(d)(ii) (view source)
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Amwelladmin (talk | contribs) (Created page with ":{{isdaprov|2(d)(ii)}} '''Liability'''. If:― ::(1) X is required to deduct or withhold a {{isdaprov|Tax}} payment that it would not have to gross up to Y under Section...") |
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:{{isdaprov|2(d)(ii)}} '''Liability'''. If:― | :{{isdaprov|2(d)(ii)}} '''Liability'''. If:― | ||
::(1) X is required to deduct or withhold a {{isdaprov|Tax}} payment that it would not have to [[gross up]] to Y under Section {{isdaprov|2(d)(i)(4)}}; | ::(1) X is required to deduct or withhold a {{isdaprov|Tax}} payment that it would not have to [[gross up]] to Y under Section {{isdaprov|2(d)(i)(4)}}; | ||
::(2) X does not | ::(2) X does not deduct or withhold that payment; and | ||
::(3) X directly incurs a liability for | ::(3) X directly incurs a liability for the {{isdaprov|Tax}}, | ||
:then, unless Y satisfies that {{isdaprov|Tax}} liability itself, Y must promptly pay the amount in question to X (including liability for interest and (if Y has not complied with Sections {{isdaprov|4(a)(i)}}, {{isdaprov|4(a)(iii)}} or {{isdaprov|4(d)}}) penalties. <br> | :then, unless Y satisfies that {{isdaprov|Tax}} liability itself, Y must promptly pay the amount in question to X (including liability for interest and (if Y has not complied with Sections {{isdaprov|4(a)(i)}}, {{isdaprov|4(a)(iii)}} or {{isdaprov|4(d)}}) penalties. <br> | ||