Sec. 7. As used in this chapter, "determining person", with respect to a particular contract, security, or instrument, means: (1) a person specified as the determining person with respect to the contract, security, or instrument; or (2) if there is not a person specified as the determining person with respect to the contract, security, or instrument, the following, in order of priority: (A) A person with the authority, right, or obligation to determine the benchmark replacement that will take effect on the LIBOR replacement date. (B) If there is not a person described in clause (A) with respect to the contract, security, or instrument, a person with the authority, right, or obligation to calculate or determine a valuation, payment, or other measurement based on a benchmark. (C) If there is not a person described in clause (A) or (B) with respect to the contract, security, or instrument, a person with the authority, right, or obligation to notify other persons of the occurrence of a LIBOR discontinuance event, a LIBOR replacement date, or a benchmark replacement.
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