Tax Event Upon Merger definition

Tax Event Upon Merger has the meaning specified in Section 5(b).

Tax Event Upon Merger provisions of Section 5(b)(iii) will apply to Party A and will apply to Party B, provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event upon Merger in respect of which it is the Affected Party.

Tax Event Upon Merger provisions of Section 5(b)(ii) and 5(b)(iii) will not apply to Party A or to Party B.

Examples of Tax Event Upon Merger in a sentence

• Section 5(b)(iv) will apply to Party A and Party B, provided that Party A shall not be entitled to designate an Early Termination Date or effect a transfer pursuant to Section 6(b)(ii) by reason of a Tax Event Upon Merger in respect of which it is the Affected Party.

• Section 6(b)(ii) is hereby amended by (i) deleting the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party,” and (ii) by deleting the words “to transfer” and inserting the words “to effect a Permitted Transfer” in lieu thereof.

• The "Tax Event Upon Merger" provision of Section 5(b)(iii) will not apply to Party A or to Party B.

• Sections 5(b)(ii) (Tax Event), 5(b)(iii) (Tax Event Upon Merger) and 5(b)(iv) (Credit Event Upon Merger) shall not apply in respect of either party.

• Section 6(b)(ii) is hereby amended by (i) deleting the words "or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party," and (ii) by deleting the words "to transfer" and inserting the words "to effect a Permitted Transfer" in lieu thereof.

More Definitions of Tax Event Upon Merger

Tax Event Upon Merger. (solely with respect to the Swap Provider as merging party) (which generally relates to the Swap Provider’s receiving a payment under the Swap Agreement from which an amount has been deducted or withheld for or on account of taxes resulting from a merger), as described in Sections 5(b)(i), 5(b)(ii) and 5(b)(iii) of the ISDA Master Agreement.

Tax Event Upon Merger. Not Applicable. Not Applicable. (iv) "Credit Event Upon Merger" Not Applicable. Not Applicable. (v) "

Tax Event Upon Merger does not apply to Party A but does apply to Party B as Burdened Party. Section 6(b)(ii) will apply, provided that the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party” shall be deleted.

Tax Event Upon Merger provisions of Section 5(b)(iii) will apply to Bear Xxxxxxx and will apply to Counterparty; provided that Bear Xxxxxxx shall not be entitled to designate an Early Termination Date by reason of a Tax Event upon Merger in respect of which it is the Affected Party.

Tax Event Upon Merger. (solely with respect to the Swap Provider as merging party) (which generally relates to the Swap Provider’s receiving a payment under the Swap Agreement from which an amount has been deducted or withheld for or on account of taxes resulting from a merger), as described in Sections 5(b)(i), 5(b)(ii) and 5(b)(iii) of the ISDA Master Agreement. In addition, there are “Additional Termination Events” (as defined in the Swap Agreement) including if this Agreement or other transaction documents are amended or modified without the prior written consent of the Swap Provider where written consent is required or if, pursuant to the terms of Section 9.02 of this Agreement, the Servicer exercises its option to purchase the Home Equity Loans. With respect to the Swap Provider, an Additional Termination Event will occur if the Swap Provider fails to comply with the Downgrade Provisions or if the Swap Provider fails to comply with certain obligations with respect to Regulation AB, as described in the Swap Agreement.

Tax Event Upon Merger provisions of Section 5(b)(iii) shall not apply to the extent that Party A is both the Burdened Party and the Affected Party.

Tax Event Upon Merger provisions of Section 5(b)(iii) will apply to [Bank] and will not apply to the Counterparty.