Define: Spot Rate
What does "Spot Rate" mean? The meaning differs based on the contract. We found 3 definitions across 3 companies in SEC filings.
Definition 1 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Spot Rate means for a currency shall mean the rate determined by the Administrative Agent or the relevant Issuing Bank, as applicable, to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two (2) Business Days prior to the date as of which the foreign exchange computation is made; provided that the Administrative Agent or the relevant Issuing Bank may obtain such spot rate from another financial institution designated by the Administrative Agent or the Issuing Bank if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided , further , that the relevant Issuing Bank may use such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an Alternative Currency.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 2 (COMCAST CORP, seen in 1 filing)
Spot Rate means the spot rate of exchange for the purchase of the relevant Alternative Currency with Dollars as quoted by Administrative Agent at approximately 11:00 a.m., New York City time, on the date two Business Days prior to the date of determination.
Source: COMCAST CORP 10-K
Definition 3 (ANALOG DEVICES INC, seen in 1 filing)
Spot Rate means for a currency means the rate determined by the Administrative Agent or the L/C Issuer, as applicable, to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two (2) Business Days prior to the date as of which the foreign exchange computation is made; provided that the Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution designated by the Administrative Agent or the L/C Issuer if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency, or from a third source, such as Reuters; and provided further that the L/C Issuer may use such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an Alternative Currency.
Source: ANALOG DEVICES INC 8-K
Data extracted from 3 SEC EDGAR filings across 3 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.