Indiana § 28-10-2-22 Occurrence of LIBOR discontinuance event or replacement date;
selection of recommended benchmark replacement; implementation of
benchmark replacement conforming changes; effect on existing rights
and obligations

Indiana Statutes

§ 28-10-2-22 — Occurrence of LIBOR discontinuance event or replacement date; selection of recommended benchmark replacement; implementation of benchmark replacement conforming changes; effect on existing rights and obligations

Indiana·Art. 10 GENERAL PROVISIONS AND DEFINITIONS·Ch. 2 LIBOR Discontinuance and Replacement

(a)This section applies if any of the following occur or take place as described in, or by operation of, this chapter:

(1)A LIBOR discontinuance event.

(2)A LIBOR replacement date.

(3)The selection or use of a recommended benchmark replacement as a benchmark replacement.

(4)The determination, implementation, or performance of benchmark replacement conforming changes.

(b)An event, occurrence, or action described in subsection (a) does not:

(1)impair or affect the right of any person to receive a payment, or affect the amount or timing of the payment, under any contract, security, or instrument;

(2)discharge or excuse performance under any contract, security, or instrument for any reason, claim, or defense, including any force majeure or other provision in a contract, security, or in

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(a) This section applies if any of the
following occur or take place as described in, or by operation of, this
chapter:
(1) A LIBOR discontinuance event.
(2) A LIBOR replacement date.
(3) The selection or use of a recommended benchmark
replacement as a benchmark replacement.
(4) The determination, implementation, or performance of
benchmark replacement conforming changes.
(b) An event, occurrence, or action described in subsection (a) does
not:
(1) impair or affect the right of any person to receive a payment,
or affect the amount or timing of the payment, under any contract,
security, or instrument;
(2) discharge or excuse performance under any contract, security,
or instrument for any reason, claim, or defense, including any
force majeure or other provision in a contract, security, or
instrument;
(3) give any person the right to unilaterally terminate or suspend
performance under any contract, security, or instrument;
(4) constitute a breach of a contract, security, or instrument; or
(5) void or nullify any contract, security, or instrument, except as
provided in section 17(b) of this chapter.

Indiana § 28-10-2-22 (Occurrence of LIBOR discontinuance event or replacement date; selection of recommended benchmark replacement; implementation of benchmark replacement conforming changes; effect on existing rights and obligations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.