Level 5 Period definition

Level 5 Period means each period other than a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period, and shall include each period during which both Moody’s and Standard & Poor’s shall not have in effect a rating for the Rated Securities (other than because either such rating agency shall no longer be in the business of rating corporate debt obligations). For purposes of the forgoing, (a) if only one of Moody’s and Standard & Poor’s shall have in effect a rating for the Rated Securities, the Rating Level Period shall be determined by reference to the available rating and (b) if the Rated Securities are rated by Moody’s and Standard & Poor’s with ratings that would otherwise fall within different Rating Level Periods, the applicable Rating Level Period shall be determined by the rating that results in the higher Rating Level Period except that if the lower of such ratings would result in a Rating Level Period that is more than one level below the higher of such Rating Level Periods, the Rating Level Period shall be determined by reference to the rating that is one level above the lower of such ratings.

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Level 5 Period means a period that is not a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period during which the Rated Securities are rated better than or equal to Baa1 by Moody's or better than or equal to BBB+ by Standard & Poor's.

Level 5 Period means each period other than a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period, and shall include each period during which both Moody’s and Standard & Poor’s shall not have in effect a rating for the Rated Securities (other than because either such rating agency shall no longer be in the business of rating corporate debt obligations).

Examples of Level 5 Period in a sentence

• The second Pricing Period, which commences 45 days after the end of June 30, 2000 calendar quarter and ends 45 days after the quarter ended September 30, 2000, will be a Leve▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇iod, a Level 4 Period, a Level 5 Period or a Level 6 Period, depending upon FIL's Debt/EBITDA Ratio for the consecutive four-quarter period ending on June 30, 2000.

• The Applicable Margin For Base Rate Borrowings, Base Rate Portions, LIBOR Borrowings, LIBOR Portions, the Facility A Commitment Fee Percentage and the Facility B Commitment Fee Percentage will be set for each Pricing Period and will vary depending upon whether such period is a Level 1 Period, a Leve▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇iod, a Level 5 Period or a Level 6 Period (each a "Pricing Period Level").

• The Applicable Margin for each Loan and Portion and the Commitment Fee Percentage will be set for each Pricing Period and will vary depending upon whether such period is a Level 1 Period, a Level 2 Period, a Level 3 Period, a Level 4 Period or a Level 5 Period.

• Each Pricing Period thereafter will commence 45 days after the end of the immediately preceding quarter and will end 45 days after the end of the next applicable quarter and will be a Leve▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇ ▇▇▇iod, a Level 4 Period, a Level 5 Period or a Level 6 Period depending upon FIL's Debt/EBITDA Ratio for the consecutive four-quarter period ending on the last day of the immediately preceding quarter.

More Definitions of Level 5 Period

Level 5 Period means each period other than a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period, during which the Rated Securities are rated equal to or worse than Ba1 by ▇▇▇▇▇’▇ or equal to or worse than BB+ by Standard & Poor’s. For purposes of the foregoing, (a) if only one of ▇▇▇▇▇’▇ and Standard & Poor’s shall have in effect a rating for the Rated Securities, the Rating Level Period shall be determined by reference to the available rating and (b) if the Rated Securities are rated by ▇▇▇▇▇’▇ and Standard & Poor’s with ratings that would otherwise fall within different Rating Level Periods, the applicable Rating Level Period shall be determined by the rating that results in the higher Rating Level Period except that if the lower of such ratings would result in a Rating Level Period that is more than one level below the higher of such Rating Level Periods, the Rating Level Period shall be determined by reference to the rating that is one level above the lower of such ratings.

Level 5 Period means each period other than a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period, during which the Rated Securities are rated equal to or worse than Ba1 by Moody’s or equal to or worse than BB+ by Standard & Poor’s.

Level 5 Period means each period other than a Level 1 Period, a Level 2 Period, a Level 3 Period or a Level 4 Period, and shall include each period during which both Moody’s and