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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 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.
Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-10-2-22 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-10-2-22/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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