§ 28-10-2-1 Applicability; conflicts with other Indiana Code provisions
§ 28-10-2-2 “Benchmark”
§ 28-10-2-3 “Benchmark replacement”
§ 28-10-2-4 “Benchmark replacement conforming changes”
§ 28-10-2-5 “Calculating person”
§ 28-10-2-6 “Contract, security, or instrument”
§ 28-10-2-7 “Determining person”
§ 28-10-2-8 “Fallback provisions”
§ 28-10-2-9 “LIBOR”
§ 28-10-2-10 “LIBOR discontinuance event”
§ 28-10-2-11 “LIBOR replacement date”
§ 28-10-2-12 “Recommended benchmark replacement”
§ 28-10-2-13 “Recommended spread adjustment”
§ 28-10-2-14 “Relevant recommending body”
§ 28-10-2-15 “Secured overnight financing rate”
§ 28-10-2-16 “SOFR administrator’s Internet web site”
§ 28-10-2-17 LIBOR replacement date; recommended benchmark replacement as benchmark replacement by operation of law
§ 28-10-2-18 Fallback provisions permitting or requiring a benchmark replacement based on LIBOR; determining person authorized to select recommended benchmark replacement; conditions
§ 28-10-2-19 Benchmark replacement conforming changes applicable to recommended benchmark replacement; incorporated by operation of law
§ 28-10-2-20 Certain agreements, contracts, securities, and instruments not affected
§ 28-10-2-21 Selection or use of recommended benchmark replacement as substantial performance
§ 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
§ 28-10-2-23 Recommended benchmark replacement; benchmark conforming changes; immunity from liability; rights, interests, and obligations not impaired or affected
§ 28-10-2-24 No negative inference or presumption as to validity or enforceability of certain terms
§ 28-10-2-25 Severability

Terms Used In Indiana Code > Title 28 > Article 10 > Chapter 2 - LIBOR Discontinuance and Replacement

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • 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.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • 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. See Indiana Code 28-10-2-8
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • LIBOR: means United States Dollar LIBOR (formerly known as the London Interbank Offered Rate), as administered by Intercontinental Exchange Benchmark Administration Limited (or by any predecessor or successor entity), that is used in making any calculation or determination under a particular contract, security or instrument. See Indiana Code 28-10-2-9
  • LIBOR discontinuance event: means the earliest to occur of any of the following:

    Indiana Code 28-10-2-10

  • LIBOR replacement date: means the following:

    Indiana Code 28-10-2-11

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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

  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5