§ 28-10-2-7 — "Determining person"

Indiana § 28-10-2-7

• Jurisdiction: Indiana
• Art. 10: GENERAL PROVISIONS AND DEFINITIONS
• Ch. 2: LIBOR Discontinuance and Replacement

Text

As used in this chapter, "determining person",
with respect to a particular contract, security, or instrument, means:
(1) a person specified as the determining person with respect to
the contract, security, or instrument; or
(2) if there is not a person specified as the determining person
with respect to the contract, security, or instrument, the following,
in order of priority:
(A) A person with the authority, right, or obligation to
determine the benchmark replacement that will take effect on
the LIBOR replacement date.
(B) If there is not a person described in clause (A) with respect
to the contract, security, or instrument, a person with the
authority, right, or obligation to calculate or determine a
valuation, payment, or other measurement based on a
benchmark.
(C) If there is not a person described in clause (A) or (B) with
respect to the contract, security, or instrument, a person with
the authority, right, or obligation to notify other persons of the
occurrence of a LIBOR discontinuance event, a LIBOR
replacement date, or a benchmark replacement.

Legislative History

As added by P.L.67-2022, SEC.1.