Define: Compensation Rate

What does "Compensation Rate" mean? The meaning differs based on the contract. We found 2 definitions across 1 company in SEC filings.

Definition 1 (VISA INC., seen in 1 filing)

Compensation Rate means for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation and (b) with respect to any amount denominated in an Agreed Currency (other than Dollars), the Overnight Rate.

Source: VISA INC. 10-K

Definition 2 (VISA INC., seen in 1 filing)

Compensation Rate means for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, (b) with respect to any amount denominated in Euro, STR and (c) with respect to any amount denominated in Sterling, SONIA.

Source: VISA INC. 10-Q

Data extracted from 2 SEC EDGAR filings across 1 company. 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.

Occurrences: 2
Companies: 1
Keywords:
Compensation Ratedefinitioncontract languagelegal termSEC filing

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