Sec. 21. The selection or use of a recommended benchmark replacement as a benchmark replacement under or with respect to a contract, security, or instrument by operation of this chapter constitutes:
(1) a commercially reasonable replacement for and a commercially substantial equivalent to LIBOR;
(2) a reasonable, comparable, or analogous term for LIBOR under or with respect to the contract, security, or instrument;
(3) a replacement that is based on a methodology or information that is similar or comparable to LIBOR; and
(4) substantial performance by any person of any right or obligation relating to or based on LIBOR under or with respect to the contract, security, or instrument.
As added by P.L.67-2022, SEC.1.
Structure Indiana Code
Title 28. Financial Institutions
Article 10. General Provisions and Definitions
Chapter 2. Libor Discontinuance and Replacement
28-10-2-1. Applicability; Conflicts With Other Indiana Code Provisions
28-10-2-3. "Benchmark Replacement"
28-10-2-4. "Benchmark Replacement Conforming Changes"
28-10-2-5. "Calculating Person"
28-10-2-6. "Contract, Security, or Instrument"
28-10-2-7. "Determining Person"
28-10-2-8. "Fallback Provisions"
28-10-2-10. "Libor Discontinuance Event"
28-10-2-11. "Libor Replacement Date"
28-10-2-12. "Recommended Benchmark Replacement"
28-10-2-13. "Recommended Spread Adjustment"
28-10-2-14. "Relevant Recommending Body"
28-10-2-15. "Secured Overnight Financing Rate"
28-10-2-16. "Sofr Administrator's Internet Web Site"
28-10-2-20. Certain Agreements, Contracts, Securities, and Instruments Not Affected
28-10-2-21. Selection or Use of Recommended Benchmark Replacement as Substantial Performance
28-10-2-24. No Negative Inference or Presumption as to Validity or Enforceability of Certain Terms