Sec. 3. As used in this chapter, "benchmark replacement" means: (1) a benchmark; (2) an interest rate; or (3) a dividend rate; that may or may not be based in whole or in part on a prior setting of LIBOR, and that replaces LIBOR (or any interest rate or dividend rate based on LIBOR), whether on a temporary, permanent, or indefinite basis, under or with respect to a contract, security, or instrument.
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