Indiana § 28-10-2-8 "Fallback provisions"

Indiana Statutes

§ 28-10-2-8 — "Fallback provisions"

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

As used in this chapter, "fallback provisions"
means terms that are included in a contract, security, or instrument and
that set forth a methodology or procedure for determining a benchmark
replacement, including any terms relating to the effective date of the
benchmark replacement, regardless of whether a benchmark
replacement can be determined in accordance with the specified
methodology or procedure.

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As used in this chapter, "fallback provisions"
means terms that are included in a contract, security, or instrument and
that set forth a methodology or procedure for determining a benchmark
replacement, including any terms relating to the effective date of the
benchmark replacement, regardless of whether a benchmark
replacement can be determined in accordance with the specified
methodology or procedure.

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