Sec. 11. As used in this chapter, "walkaway clause" means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract, either:
(1) does not create a payment obligation of a party; or
(2) voids any part of a payment obligation of a party;
solely because of the party's status as a nondefaulting party.
As added by P.L.11-2011, SEC.36.
Structure Indiana Code
Article 9. Supervision; Rehabilitation; Liquidation
Chapter 3.1. Treatment of Certain Agreements
27-9-3.1-1. "Actual Direct Compensatory Damages"
27-9-3.1-3. "Commodity Contract"
27-9-3.1-4. "Contractual Right"
27-9-3.1-5. "Forward Contract"
27-9-3.1-6. "Netting Agreement"
27-9-3.1-7. "Qualified Financial Contract"
27-9-3.1-8. "Repurchase Agreement"
27-9-3.1-9. "Securities Contract"
27-9-3.1-11. "Walkaway Clause"
27-9-3.1-14. Transfer of Amounts With Receiver
27-9-3.1-15. Transfers by Receiver
27-9-3.1-16. Notice to Parties of Transfer
27-9-3.1-17. Avoidance of Transfer by Receiver
27-9-3.1-18. Receiver's Right of Disaffirmance or Repudiation
27-9-3.1-19. Claim Arising From Disaffirmance or Repudiation