(a) As used in this chapter, 'LIBOR replacement date' means the following:(1) In the case of a LIBOR discontinuance event described in section 10(a)(1) or 10(a)(2) of this chapter, the later of:(A) the date of the public statement or publication of information described in section 10(a)(1) or 10(a)(2) of this chapter, as applicable; or(B) the date on which the administrator of LIBOR permanently or indefinitely ceases to provide LIBOR.(2) In the case of a LIBOR discontinuance event described in section 10(a)(3) of this chapter, the date of the public statement or publication of information described in section 10(a)(3) of this chapter.(b) With respect to a particular contract, security, or instrument, the term does not include a date that affects one (1) or more tenors of LIBOR in either of the following circumstances:(1) If:(A) the contract, security, or instrument:(i) provides for only one (1) tenor of LIBOR; and(ii) requires interpolation; and(B) the tenor provided for can be interpolated from LIBOR tenors that are not affected on the date.(2) If:(A) the contract, security, or instrument permits a party to choose from more than one (1) tenor of LIBOR; and(B) any of the be interpolated from LIBOR tenors that are not affected on the date.(2) If:(A) the contract, security, or instrument permits a party to choose from more than one (1) tenor of LIBOR; and(B) any of the specified tenors:(i) is not affected on the date; or(ii) can be interpolated from LIBOR tenors that are not affected on the date, if the contract, security, or instrument requires interpolation.As added by P.L.67-2022, SEC.1.
Indiana Legal Code