Define: Overnight Rate
What does "Overnight Rate" mean? The meaning differs based on the contract. We found 5 definitions across 4 companies in SEC filings.
Definition 1 (BIOGEN INC., seen in 1 filing)
Overnight 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, the L C Issuer, or the Swing Line Lender, as the case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, an overnight rate determined by the Administrative Agent or the L C Issuer, as the case may be, in accordance with banking industry rules on interbank compensation.
Source: BIOGEN INC. 10-K
Definition 2 (BIOGEN INC., seen in 1 filing)
Overnight Rate means for any day, the greater of (a) the Federal Funds Rate and (b) an overnight rate determined by the Administrative Agent, the L C Issuer, or the Swing Line Lender, as applicable, in accordance with banking industry rules on interbank compensation.
Source: BIOGEN INC. 10-K
Definition 3 (Tesla, Inc., seen in 1 filing)
Overnight Rate means for any day, (a) with respect to any amount denominated in Dollars, the Federal Funds Effective Rate and (b) with respect to any amount denominated in a Foreign Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight deposits in the relevant Foreign Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of the Administrative Agent in the applicable offshore interbank market for such Foreign Currency to major banks in such interbank market.
Source: Tesla, Inc. 10-K
Definition 4 (AXON ENTERPRISE, INC., seen in 1 filing)
Overnight Rate means for any day, (a) with respect to any amount denominated in Dollars, the NYFRB Rate and (b) with respect to any amount denominated in an Alternative Currency, an overnight rate determined by the Administrative Agent or the Issuing Banks, as the case may be, in accordance with banking industry rules on interbank compensation.
Source: AXON ENTERPRISE, INC. 10-K
Definition 5 (Coupang, Inc., seen in 1 filing)
Overnight Rate means the rate applicable for overnight payments.
Source: Coupang, Inc. 8-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.