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34 chapters · 1,335 sections in this title.
Tenn. Code Ann. § 47-33-101 Short title
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This chapter is known and may be cited as the “LIBOR Discontinuance and Replacement Act.”
Tenn. Code Ann. § 47-33-102 Chapter definitions
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(1) As used in this chapter:(1) “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 a valuation, payment, or other measurement under or in respect of a contract, secur…
Tenn. Code Ann. § 47-33-103 Recommended benchmark replacement for certain contracts, securities, or instruments — Fallback provisions
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(a) On the LIBOR replacement date, the recommended benchmark replacement, by operation of law, is the benchmark replacement for a contract, security, or instrument that uses LIBOR as a benchmark and:(1) Contains no fallback provisions; or(2) Contains fallback provisions that resu…
Tenn. Code Ann. § 47-33-104 Construction and effect of selection or use of a recommended benchmark replacement — Liability
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(a) The selection or use of a recommended benchmark replacement as a benchmark replacement under or in respect of a contract, security, or instrument by operation of § 47-33-103 constitutes:(1) A commercially reasonable replacement for and a commercially substantial equivalent to…
