Dilution Stress Factor means 2.25.
Dilution Stress Factor means, at any time, the “Dilution Stress Factor” set forth in the table below corresponding to the Ratings Level in effect at such time and set forth in the table below: Ratings Level Dilution Stress Factor Ratings Level 1 2.00 Ratings Xxxxx 0 2.00 Ratings Xxxxx 0 2.25 Ratings Level 4 2.25
Dilution Stress Factor means (a) at any time the Servicer's ratio of Total Debt to Adjusted EBITDA is less than 3.0, 1.75, (b) at any time between September 28, 2006 and the Liquidity Termination Date until the Agent otherwise notifies the Seller Parties, 1.75, and (c) at any other time unless the Agent otherwise notifies the Seller Parties, 2.00.
More Definitions of Dilution Stress Factor
Dilution Stress Factor means (i) 1.75, with respect to any Calculation Period during which Arrow’s senior unsecured debt is rated equal to or higher than BBB and Baa2 by S&P and Xxxxx’x, respectively, (ii) 2.00, with respect to any Calculation Period during which Arrow’s senior unsecured debt is rated BBB- and Baa3 by S&P and Xxxxx’x, respectively, (iii) 2.25, with respect to any Calculation Period during which Arrow’s senior unsecured debt is rated equal to or less than BB+ or Ba1 but greater than BB- and Ba3 by S&P or Xxxxx’x, respectively, and (iv) 2.50, with respect to any Calculation Period during which Arrow’s senior unsecured debt is rated equal to or less than BB- or Ba3 by S&P or Xxxxx’x, respectively, or is not rated by each of S&P and Xxxxx’x, provided, however, that in the event the ratings of Xxxxx'x and S&P do not correspond, the “Dilution Stress Factor” shall be determined using the lower rating, provided, further, that in the event the respective ratings of Xxxxx'x or S&P differ within a Calculation Period, the “Dilution Stress Factor” shall be determined using the lower rating with respect to such Calculation Period.
Dilution Stress Factor means 2.0.
Dilution Stress Factor is a multiplier set in function of the targeted credit rating for the Dilution Reserve Rate in accordance with S&P’s methodology. The applied Dilution Stress Factor is listed in Schedule 3 Part 2. The “Expected Dilution” corresponds, on each Calculation Date, to the average of the 12 previous consecutive Monthly Dilution Ratios ending on the Cut-off Date immediately preceding such Calculation Date. The “Monthly Dilution Ratio” on each Calculation Date is calculated as follows: Schedule 3 to Receivables Purchase Agreement (Mauser) EXECUTION COPY where: Non – Contractual Dilution of the Calculation Period Sales generating the Dilution of the Calculation Period the “Sales generating the Dilution of the Calculation Period” are the sales generated in the Calculation Period to which the Dilution of the Calculation Period of the relevant Calculation Date is related, i.e. the sales generated in the Calculation Period which ended on or about Z days before the last day of the calendar month immediately preceding the relevant Calculation Period.
Dilution Stress Factor set forth in Exhibit I to the RPA is replaced in its entirety with the following:
Dilution Stress Factor means 1.5; provided, however, that after the occurrence of a Ratings Downgrade Event, the “Dilution Stress Factor” shall be 2.0.
Dilution Stress Factor to read in its entirety as follows:
Dilution Stress Factor means (i) 1.75, with respect to any Calculation Period during which Arrow's senior unsecured debt is rated equal to or higher than BBB and Baa2 by S&P and Moody's, respectively, (ii) 2.00, with respect to any Calxxxxxxxn Period during which Arrow's senior unsecured debt is rated BBB- and Baa3 by S&P and Moody's, respectively, (iii) 2.25, with respect to any Caxxxxxxxon Period during which Arrow's senior unsecured debt is rated equal to or less than BB+ or Ba1 but greater than BB- and Ba3 by S&P or Moody's, respectively, and (iv) 2.50, with respect tx xxx Calculation Period during which Arrow's senior unsecured debt is rated equal to or less than BB- or Ba3 by S&P or Moody's, respectively, or is not rated by each of S&P and Xxxxx'x, provided, however, that in the event the ratings of Moody's and S&P do not correspond, the "Dilution Stress Fxxxxx" shall be determined using the lower rating, provided, further, that in the event the respective ratings of Moody's or S&P differ within a Calculation Period, the "Xxxxxxon Stress Factor" shall be determined using the lower rating with respect to such Calculation Period."