Indiana Code 28-10-2-8. “Fallback provisions”
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Terms Used In Indiana Code 28-10-2-8
- 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
- Contract: A legal written agreement that becomes binding when signed.
Sec. 8. 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.
As added by P.L.67-2022, SEC.1.