Level III Pricing Period means, subject to Section 2.06(e), any period which is not a Level I Pricing Period or a Level II Pricing Period.
Level III Pricing Period means, subject to Section 2.07(c), any period on or after the Effective Date during which the Consolidated Pricing Ratio is greater than 2.00:1.00 but less than or equal to 2.50:1.00 and no Event of Default has occurred and is continuing.
Level III Pricing Period means any period during which the Pricing Ratio is greater than 2.50:1 but less than or equal to 3.00:1 and no Event of Default has occurred and is continuing.
Examples of Level III 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.
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.
Each Level I Pricing Period, Level II Pricing Period, Level III Pricing Period or Level IV Pricing Period (each a "Pricing Period") shall commence on (and include) the date that is the first day of the third month following the end of each fiscal quarter of the Borrower and shall terminate on the day before the beginning of the next Pricing Period.
More Definitions of Level III Pricing Period
Level III 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 2.25 to 1.0 or greater but less than 2.5 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 III Pricing Period means any period (other than a Level I Pricing Period or Level II Pricing Period) during which the Pricing Ratio for the most recent Calculation Period is less than or equal to 3.25 to 1.0.
Level III Pricing Period means 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 xxxxxx 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 axx xxxxod that 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 III Pricing Period means, subject to Section 2.07(c), any period during which the Debt/EBITDAR Ratio of Horizon is greater than 3:50:1.00 but less than or equal to 4.00:1.00 and no Event of Default has occurred and is continuing.
Level III Pricing Period means, subject to Section 2.07(c), any period during which (a) the Leverage Ratio is greater than 4.00:1.00 but less than or equal to 4.50:1.00 and (b) no Default or Event of Default has occurred and is continuing." (f) The definition of "pro forma basis" is hereby amended by adding at the end thereof the following: "Notwithstanding the foregoing, for purposes of calculating compliance with the covenants set forth in Article VI, the Simtran Acquisition and the Dart Acquisition only, and not any future Permitted Acquisition, shall be deemed to have occurred on the actual effective date of the Simtran Acquisition or the Dart Acquisition, as the case may be." (g) The following definitions are hereby added in alphabetical order: ""Canadian Line of Credit" shall mean that certain line of credit dated as of April 21, 1998 and available until April 21, 1999 from the Bank of Nova Scotia to Simtran Technologies, Inc. in an amount not to exceed 4,750,000.00 Canadian dollars to be used for the operating expenses of Simtran Technologies, Inc." ""Dart Acquisition" shall mean the acquisition by FATS, Inc. of 100% of the capital stock of Dart International, Inc." ""Level IV Pricing Period" shall mean, subject to Section 2.07(c), any period during which (a) the Leverage Ratio is greater than 4.50:1.00 but less than or equal to 5.00:1.00 and (b) no Default or Event of Default has occurred and is continuing." ""Level V Pricing Period" shall mean (a) with respect to any day from and including the First Amendment Effective Date through the date on which financial statements and certifications are required to be delivered pursuant to Section 5.04(g) and (b) thereafter, any period which is not a Level I Pricing Period, a Level II Pricing Period, a Level III Pricing Period or a Level IV Pricing Period." ""Simtran Acquisition" shall mean the acquisition by FATS, Inc., through a Wholly Owned Subsidiary, of 100% of the capital stock of Simtran Technologies, Inc., which acquisition is a Permitted Acquisition." SECTION 1.02.
Level III Pricing Period means (a) if the Company has not exercised the Ratings Election, any period during which the Company's Fixed Charge Coverage Ratio for the most recent Calculation Period is 2.15 or greater but less than 2.30 or (b) if the Company has exercised the Ratings Election, any period during which the Company's Index Debt is rated BB+ by S&P or Ba1 by Moody's. Any such period referred to in clause (a) above shall commenxx xx (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. Any such period referred to in clause (b) above shall be determined as provided in Section 2.20.
Level III Pricing Period means any period during which no other Pricing Level applies.