Examples of Applicable Debt Rating in a sentence
BB+/Ba1/BB+ 1.500 % 0.500 % Applicable Debt Rating LIBOR Advance Applicable Margin Base Rate Advance Applicable Margin F.
If at any time there is no Applicable Debt Rating from Xxxxx’x or S&P, Level V shall apply.
Asset Coverage Ratio -------------------- The Borrower shall maintain, as of the end of each month, a ratio of Eligible Inventory to Funded Debt of not less than 1.25:1.00; provided, however, the foregoing covenant shall no longer be applicable at such times as Borrower's Applicable Debt Rating shall, for a period of at least 90 consecutive days, have been BBB- or higher from S&P and Baa3 or higher from Moody's.
Capital Expenditures -------------------- The Borrower shall not make capital expenditures, on a consolidated basis, in any fiscal year in an amount greater than $200,000,000; provided, however, the foregoing covenant shall no longer be applicable at such times as Borrower's Applicable Debt Rating shall, for a period of at least 90 consecutive days, have been BBB- or higher from S&P and Baa3 or higher from Moody.
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.