Level II Pricing definition

Level II Pricing applies on any day on which (i) the Borrower’s long-term debt is rated A or higher by S&P or A2 or higher by Moody’s and (ii) Level I Pricing does not apply.

Level II Pricing applies at any date if, at such date, the Borrower’s long-term debt is rated A by S&P, A2 by Moody’s and A by Fitch. “Level III Pricing” applies at any date if, at such date, the Borrower’s long-term debt is rated A- by S&P, A3 by Moody’s and A- by Fitch.

Level II Pricing means the pricing during any period during which (i) the Company's long-term senior unsecured debt is rated AA- or higher by S&P or Aa3 or higher by Moody's and (ii) Level I Pricing does not apply.

Examples of Level II Pricing in a sentence

• Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date.

• Level II: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date.

• 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.

• Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V ³BBB+/ Baa1/BBB+ BBB/ Xxx0/XXX XXX-/ Xxx0/XXX- XX+/ Xx0/XX+ £BB/ Ba2/BB 0.125% 0.150% 1.750% 0.300% 0.350% The foregoing pricing shall be based on the Public Debt Ratings.

• Schedule I to the Credit Agreement is hereby amended by amending the definition of "Level II Pricing" contained therein by adding, following the expression "1.56 to 1.0" on the eleventh line thereof, the expression "(or, at any time that the Pricing Level is determined on the basis of a certificate in respect of a fiscal quarter ending during the period from and including September 30, 1995 through and including June 30, 1996, 1.50 to 1.0)".

More Definitions of Level II Pricing

Level II Pricing applies at any date if, at such date, (i) the Company's long-term debt is rated A or higher by S&P or A2 or higher by Moody's, and (ii) Level I Pricing does not apply. "Level III Pricing" applies at any date if, at such date, (i) the Company's long-term debt is rated A- or higher by S&P or A3 or higher by Moody's and (ii) neither Level I Pricing nor Level II Pricing applies.

Level II Pricing applies at any date if, at such date, (i) the Borrower's long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moodx'x xxx (ii) Level I Pricing does not apply.

Level II Pricing applies during any Rate Period if no higher Pricing Level applies and, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was equal to or greater than 1.75 to 1.

Level II Pricing applies on any day if on such day Level I Pricing does not apply and the Company’s unsecured long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moody’s.

Level II Pricing applies if the Debt Rating at the most recent Performance Pricing Determination Date was equal to A or A2.

Level II Pricing applies at any date if, at such date, (i) the Company's long-term debt is rated A- or higher by S&P or A3 or higher by Moody's, and (ii) Level I Pricing does not apply, except as provided below under "Split Rating".

Level II Pricing applies from (a) the Adjustment Date following a fiscal quarter for which [____________] until (b) the next subsequent Adjustment Date on which another Pricing Level becomes applicable.