Indiana Code 28-10-2-12. “Recommended benchmark replacement”
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 28-10-2-12
- benchmark: means an index of interest rates or dividend rates that is used, in whole or in part, as the basis of, or as a reference for, calculating or determining any valuation, payment, or other measurement under or with respect to a contract, security, or instrument. See Indiana Code 28-10-2-2
- benchmark replacement: means :
Indiana Code 28-10-2-3
- benchmark replacement conforming changes: means any technical, administrative, or operational changes, alterations, or modifications that:
Indiana Code 28-10-2-4
- Contract: A legal written agreement that becomes binding when signed.
- recommended spread adjustment: means a spread adjustment, or method for calculating or determining the spread adjustment, that:
Indiana Code 28-10-2-13
- relevant recommending body: means :
Indiana Code 28-10-2-14
Sec. 12. As used in this chapter, “recommended benchmark replacement”, with respect to a particular type of contract, security, or instrument, means a benchmark replacement based on SOFR, including any recommended spread adjustment and any benchmark replacement conforming changes, that is selected or recommended by a relevant recommending body with respect to the type of contract, security, or instrument.
As added by P.L.67-2022, SEC.1.