Indiana § 28-10-2-21 Selection or use of recommended benchmark replacement as
substantial performance

Indiana Statutes

§ 28-10-2-21 — Selection or use of recommended benchmark replacement as substantial performance

Indiana § 28-10-2-21

Art. 10GENERAL PROVISIONS AND DEFINITIONS

Ch. 2LIBOR Discontinuance and Replacement

This text of Indiana § 28-10-2-21 (Selection or use of recommended benchmark replacement as substantial performance) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-10-2-21 (2026).

Text

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.

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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.