Section 28-10-2-20 - Certain agreements, contracts, securities, and instruments not affected This chapter does not alter or impair any of the following:
(1) Any written agreement by all requisite parties that, retrospectively or prospectively, a contract, security, or instrument is not subject to any provisions set forth in this chapter, regardless of whether the written agreement refers specifically to this chapter. For purposes of this subdivision, "all requisite parties" means all parties required to amend the terms and provisions of a contract, security, or instrument that, but for a written agreement described in this subdivision, would otherwise be altered or affected by this chapter.(2) Any contract, security, or instrument that contains fallback provisions that would result in a benchmark replacement that is not based on LIBOR, including any benchmark replacement that is based on the prime rate or on the federal funds rate. However, a contract, security, or instrument described in this subdivision is subject to section 17(b) of this chapter.(3) Any contract, security, or instrument described in section 18(a) of this chapter and with respect to which:(A) a determining person does not elect to use the recommended benchmark replacement under section 18(b) of this chapter; or(B) a determining person elects to use the recommended benchmark replacement before the occurrence of a LIBOR discontinuance event. However, a contract, security, or instrument described in this subdivision is subject to section 17(b) of this chapter.
(4) The application to a recommended benchmark replacement of any cap, floor, modifier, or spread adjustment to which LIBOR had been subject under the terms of a contract, security, or instrument.Added by P.L. 67-2022,SEC. 1, eff. 3/10/2022.