Define: Base Rate
What does "Base Rate" mean? The meaning differs based on the contract. We found 10 definitions across 12 companies in SEC filings.
Definition 1 (Air Products & Chemicals, Inc., seen in 1 filing)
Base Rate means for any day the greatest of (a) the Prime Rate in effect on such day, (b) 0.50% plus the Federal Funds Effective Rate in effect on such day and (c) the Euro-Rate for a one month Funding Period commencing on such day plus 1.0% per annum.
Source: Air Products & Chemicals, Inc. 10-K
Definition 2 (CARDINAL HEALTH INC, seen in 1 filing)
Base Rate means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its prime rate, (c) Term SOFR for a one-month tenor in effect on such day plus 1.00% and (d) 1.00%.
Source: CARDINAL HEALTH INC 8-K
Definition 3 (Autodesk, Inc., seen in 1 filing)
Base Rate means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of (a) the rate of interest announced publicly by JPMorgan Chase Bank, N.A. in New York, New York from time to time as JPMorgan Chase Bank, N.A.'s prime rate, (b) the Federal Funds Rate plus 1/2 of 1% and (c) Adjusted Term SOFR for a one-month Interest Period plus 1.00%.
Source: Autodesk, Inc. 8-K
Definition 4 (CISCO SYSTEMS, INC., seen in 1 filing)
Base Rate means for any day, the rate per annum equal to one-half of one percent above the Federal Funds Rate.
Source: CISCO SYSTEMS, INC. 10-K
Definition 5 (CISCO SYSTEMS, INC., seen in 1 filing)
Base Rate means for any day, a rate per annum equal to the higher of (i) the Reference Rate for such day and (ii) the sum of 1/2 of 1% plus the Federal Funds Rate for such day.
Source: CISCO SYSTEMS, INC. 10-K
Definition 6 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Base Rate means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Toronto Dominion as its prime rate. The prime rate is a rate set by Toronto Dominion based upon various factors including Toronto Dominion costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Toronto Dominion shall take effect at the opening of business on the day specified in the public announcement of such change.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 7 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Base Rate means for any day, a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus 0.50% and (c) Adjusted Term SOFR for a one-month tenor in effect on such day plus 1.00 %. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR, respectively.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 8 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Base Rate means for any day, a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus 0.50% and (c) Adjusted Term SOFR for a one-month tenor in effect on such day plus 1.00%. Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR, respectively.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 9 (Booking Holdings Inc., seen in 1 filing)
Base Rate means for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus ½ of 1% and (c) the Adjusted Eurocurrency LIBO Rate for a one month Interest Period in Dollars on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%.
Source: Booking Holdings Inc. 10-K
Definition 10 (EXELON CORP, seen in 1 filing)
Base Rate means for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Effective Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate and (c) Term SOFR for a one-month Interest Period plus 1.00%; provided that if the Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
Source: EXELON CORP 10-K
Data extracted from 18 SEC EDGAR filings across 12 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.