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
Ind. Code § 28-10-2-22
in effectSec. 22. (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.
As added by P.L.67-2022, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026