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Template:Nutshell 2002 ISDA Payer Tax Representations: Difference between revisions
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'''{{isdaprov|Payer Tax Representations}}'''. Under Section {{isdaprov|3(e)}} each party makes the following [[representation]]:<br> | '''{{isdaprov|Payer Tax Representations}}'''. Under Section {{isdaprov|3(e)}} each party makes the following [[representation]]:<br> | ||
It is not required by any [[applicable law]], or governmental practice in any {{isdaprov|Relevant Jurisdiction}} to deduct or withhold any {{isdaprov|Tax}} from any payment (other than [[interest]] under Section {{ | It is not required by any [[applicable law]], or governmental practice in any {{isdaprov|Relevant Jurisdiction}} to deduct or withhold any {{isdaprov|Tax}} from any payment (other than [[interest]] under Section {{isdaprov|9(h)}}) due by it to the other party. In making this [[representation]], it may rely on: <br> | ||
:(i) the accuracy of any {{isdaprov|Payee Tax Representation}} from the other party; | :(i) the accuracy of any {{isdaprov|Payee Tax Representation}} from the other party; | ||
:(ii) the other party providing tax documents as required under Section {{isdaprov|4(a)}} and those documents being effective; and | :(ii) the other party providing tax documents as required under Section {{isdaprov|4(a)}} and those documents being effective; and | ||
:(iii) the other party telling it if its {{isdaprov|Payee Tax Representations}} are not accurate, as is required under Section {{isdaprov|4(d)}}; | :(iii) the other party telling it if its {{isdaprov|Payee Tax Representations}} are not accurate, as is required under Section {{isdaprov|4(d)}}; | ||
It will not be a breach of this [[representation]] to rely on clause (ii) above where the other party does not deliver a Section {{isdaprov|4(a)(iii)}} document by reason of material prejudice to its legal or commercial position. <br> | It will not be a breach of this [[representation]] to rely on clause (ii) above where the other party does not deliver a Section {{isdaprov|4(a)(iii)}} document by reason of material prejudice to its legal or commercial position. <br> | ||