Level I Pricing Period definition

Level I Pricing Period means, subject to Section 2.06(c), any period on ---------------------- or after the Pricing Adjustment Date during which (a) the Leverage Ratio is less than 3.00:1.00 and (b) no Default or Event of Default has occurred and is continuing.

Level I Pricing Period means, subject to Section 2.07(c), any period on or after the Effective Date during which the Consolidated Pricing Ratio is less than or equal to 1.50:1.00 and no Event of Default has occurred and is continuing.

Level I Pricing Period has the meaning set forth in ---------------------- Section 2.18.

Examples of Level I Pricing Period in a sentence

• Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.30% per annum during any Level II Pricing Period, (iii) 0.375% per annum during any Level III Pricing Period or Level IV Pricing Period or (iv) 0.4375% during any Level V Pricing Period.

• The Company shall ---- ------------- pay to the Administrative Agent, for the account of each Bank, facility fees for each day during the Revolving Credit Period, at a rate equal to (a) if such day falls within a Level I Pricing Period, 0.060% per annum or (b) if such day falls within a Level II Pricing Period, 0.125% per annum, in each case of such Bank's Commitment (whether used or unused) for such day.

• Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.375% per annum during any Level II Pricing Period, (iii) 0.4375% per annum during any Level III Pricing Period or (iv) 0.50% at all other times.

• The Company shall pay to the ---- ------------ Administrative Agent, for the account of each Bank, facility fees for each day during the Revolving Credit Period, at a rate equal to (a) if such day falls within a Level I Pricing Period, 0.060% per annum or (b) if such day falls within a Level II Pricing Period, 0.125% per annum, in each case of such Bank's Commitment (whether used or unused) for such day.

• The Company shall pay to the -------------------- Administrative Agent, for the account of each Bank, a letter of credit fee for each day during the Revolving Credit Period, at a rate equal to (a) if such day falls within a Level I Pricing Period, 0.190% per annum or (b) if such day falls within a Level II Pricing Period, 0.325% per annum, in each case of such Bank's LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) for such day.

More Definitions of Level I Pricing Period

Level I Pricing Period means any period during which the Pricing Ratio is less than or equal to 2.00:1 and no Event of Default has occurred and is continuing.

Level I Pricing Period means any period during which the Pricing Ratio for the most recent Calculation Period is less than or equal to 1.5 to 1.0.

Level I Pricing Period means any period (other than the Initial Pricing Period) during which the Borrower's Debt Coverage Ratio as of the end of the most recent Calculation Period is less than 2.0 to 1.0. Any such period shall commence on (and include) the date of delivery to the Agent of financial statements demonstrating that such period has commenced and shall terminate on (and exclude) the date of delivery to the Agent of financial statements demonstrating that such period has terminated.

Level I Pricing Period means, subject to Section 2.06(e), any period during which the Leverage Ratio is less than 3.50:1.00 and no Event of Default has occurred and is continuing.

Level I Pricing Period means any period during which Index Debt shall be rated A- or better by S&P and A3 or better by Moody's; "Level II Pricing Period" shall mean any xxxxxx during which Index Debt shall be rated (i) BBB+ or better by S&P and Baal by Moody's or (ii) BBB+ by S&P and Baal or better by Xxxxx'x; "Level III Pricing Period" shall mean any xxxxxx during which Index Debt shall be rated (i) BBB or better by S&P and Baa2 by Moody's or (ii) BBB by S&P and Baa2 or better by Mxxxx'x; "Level IV Pricing Period" shall mean any perixx during which Index Debt shall be rated (i) BBB- or better by S&P and Baa3 by Moody's or (ii) BBB- by S&P and Baa3 or better by Xxxxx'x; and "Level V Pricing Period" shall mean any pxxxxx xhat is not a Level I Pricing Period, a Level II Pricing Period, a Level III Pricing Period or a Level IV Pricing Period, including any period during which Index Debt shall be unrated by either S&P or Moody's. "Pricing Period" shall mean a Level I Pricinx Xeriod, a Level II Pricing Period, a Level III Pricing Period, a Level IV Pricing Period or a Level V Pricing Period.

Level I Pricing Period means, subject to Section 2.07(c), any period during which the Debt/EBITDAR Ratio of Horizon is less than or equal to 3.00:1.00 and no Event of Default has occurred and is continuing.

Level I Pricing Period means any period during which (based on the most recent financial statements referred to in Section 4.04(b) or delivered pursuant to Section 5.01(a) or (b)) the ratio of Consolidated Adjusted Operating Cash Flow (for the period of four consecutive fiscal quarters ended as of the last day of the fiscal period covered by such financial statements) to Consolidated Adjusted Debt (as of the last day of the fiscal period covered by such financial statements) is greater than or equal to 0.50 to 1.00. Any such period shall commence on (and include) the date of delivery to the Agent of financial statements demonstrating that such period has commenced and shall terminate on (and exclude) the date of delivery to the Agent of financial statements demonstrating that such period has terminated.