Applicable Debt Rating means the highest Debt Rating received from any of S&P, Xxxxx’x and Fitch; provided that if the lowest Debt Rating received from any such rating agency is two or more rating levels below the highest Debt Rating received from any such rating agency, the Applicable Debt Rating shall be the level that is one level below the highest of such Debt Ratings; provided, however, that if two ratings are at the same highest level, the Applicable Debt Rating shall be the highest level.
Applicable Debt Rating means (i) where the Debt Rating from any two of Standard and Poor’s, Xxxxx’x and Fitch is at the same level, such Debt Rating, and (ii) in the event that each of the Debt Ratings of Standard and Poor’s, Xxxxx’x and Fitch are at different levels, the middle Debt Rating (i.e., the highest and lowest Debt Ratings shall be disregarded).
Applicable Debt Rating means at any time the Xxxxx'x Rating and the S&P Rating if equivalent, and the higher of the Xxxxx'x Rating and the S&P Rating if such ratings are not equivalent; provided, that, if the Xxxxx'x Rating and the S&P Rating are not equivalent and one of the two ratings is two or more categories lower than the other, then the rating classification used for the purpose hereof shall be the category next below that of the higher of the two ratings.
Examples of Applicable Debt Rating in a sentence
The Applicable Debt Rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date.
If at any time there is no Applicable Debt Rating from Xxxxx’x or S&P, Level V shall apply.
Facility Fee: A facility fee, payable quarterly in arrears for the pro rata account of the Lenders, on the total amount of the Revolvers, in the amount designated in Annex II based on the Borrower's Applicable Debt Rating.
BBB+ / Baa1/ BBB+ 1.000 % 0.000 % 0.10 % Applicable Debt Rating Eurocurrency Rate Loan Applicable Margin Base Rate Loan Applicable Margin Ticking Fee Rate C.
BB+/Ba1/BB+ 1.500 % 0.500 % Applicable Debt Rating LIBOR Advance Applicable Margin Base Rate Advance Applicable Margin F.
More Definitions of Applicable Debt Rating
Applicable Debt Rating means the lower of the top two Debt Ratings from Standard and Poor’s, Xxxxx’x and Fitch.
Applicable Debt Rating means at any time the Mxxxx’x Rating and the S&P Rating if equivalent, and the higher of the Mxxxx’x Rating and the S&P Rating if such ratings are not equivalent; provided, that, if the Mxxxx’x Rating and the S&P Rating are not equivalent and one of the two ratings is two or more categories lower than the other, then the rating classification used for the purpose hereof shall be the category next below that of the higher of the two ratings.
Applicable Debt Rating means, with respect to any loan facility on any date of determination, the rating assigned to such facility by S&P (or, in the event that such facility is not rated by S&P, the current rating assigned to such facility by Moody’s) as of such date.”
Applicable Debt Rating means the highest Debt Rating received from any of Standard and Poor’s, Moody’s and Fitch; provided that if the lowest Debt Rating received from any such rating agency is two or more rating levels below the highest Debt Rating received from any such rating agency, the Applicable Debt Rating shall be the level that is one level below the highest of such Debt Ratings; provided, however, that if two ratings are at the same highest level, the Applicable Debt Rating shall be the highest level.
Applicable Debt Rating means, on any Rating Availability Date, the Borrower Debt Ratings then in effect; provided that:
Applicable Debt Rating means, as of any date of determination, the rating assigned by the Rating Agencies to the senior unsecured long-term debt securities of the Borrower without third-party credit enhancement (and any rating assigned to any other debt security of the Borrower shall be disregarded), as of the close of business on such date, provided that (a) if such securities receive a split-rating and the rating differential is one level, the higher of the two ratings will apply and (b) if such securities receive a double split-rating and the ratings differential is more than one level, the average of the two ratings (or the higher of any two intermediate ratings) shall be used.
Applicable Debt Rating means, as of the last day of any Fiscal Quarter, the rating assigned by the Rating Agencies to the senior secured bank loan debt of the Borrower without third-party credit enhancement (and any rating assigned to any other debt security of the Borrower shall be disregarded).