Define: Default Rate

What does "Default Rate" mean? The meaning differs based on the contract. We found 4 definitions across 4 companies in SEC filings.

Definition 1 (EQUIFAX INC, seen in 1 filing)

Default Rate means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the ABR plus (ii) the Applicable Rate, if any, applicable to ABR Loans plus (iii) 2% per annum provided that with respect to a Term Benchmark Loan or an RFR Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum.

Source: EQUIFAX INC 10-Q

Definition 2 (AMAZON COM INC, seen in 1 filing)

Default Rate means twelve percent (12%) per annum.

Source: AMAZON COM INC S-1

Definition 3 (CrowdStrike Holdings, Inc., seen in 1 filing)

Default Rate means a rate per annum equal to the lesser of: (i) 10% on the due date of such Base Rent or Additional Rent; and (ii) the highest rate of interest permitted by applicable laws.

Source: CrowdStrike Holdings, Inc. S-1

Definition 4 (AMERICAN TOWER CORP /MA/, seen in 1 filing)

Default Rate means a simple per annum interest rate equal to the sum of (a) the then applicable Interest Rate Basis (including the Applicable Margin), and (b) two percent (2.0%).

Source: AMERICAN TOWER CORP /MA/ 10-K

Data extracted from 5 SEC EDGAR filings across 4 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.

Occurrences: 5
Companies: 4
Keywords:
Default Ratedefinitioncontract languagelegal termSEC filing

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