Level V Pricing definition

Level V Pricing applies on any day if no other Pricing Level applies on such day.

Level V Pricing applies at any date if, at such date, no other Pricing Level applies.

Level V Pricing applies on any day on which (i) the Borrower’s long-term debt is rated BBB or higher by S&P or Baa2 or higher by Moody’s and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing or Level IV Pricing applies.

Examples of Level V Pricing 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.

• PRICING LEVEL refers to the determination of which of Levex X, Xxxxx XX, Xxxxx XXX, Xxxxx XX xx Level V Pricing applies for any day; provided, however, that until there is a Satisfactory Resolution of the Longhorn Partners Pipeline Litigation, the minimum Pricing Level will be Level IV.

• Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV, Pricing Level V, Pricing Level VI or Pricing Level VII, as the case may be.

• Level I Pricing is the lowest Pricing Level and Level V Pricing is the highest Pricing Level.

More Definitions of Level V Pricing

Level V Pricing means the pricing during any period during which (i) the Company's long-term senior unsecured debt is rated A- or higher by S&P or A3 or higher by Moody's and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and Level IV Pricing applies.

Level V 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 3.00 to 1.

Level V 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 Baa2 or higher by Moody's and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and Level IV Pricing applies.

Level V Pricing applies, subject to clauses (a), (b) and (c) of the definition of Pricing Level, (a) from the Adjustment Date (i) following a fiscal quarter for which [_____________] until (b) the next subsequent Adjustment Date on which another Pricing Level becomes applicable.

Level V Pricing applies if the Debt Rating at the most recent Performance Pricing Determination Date was equal to BBB- or Baa3.

Level V Pricing applies on any day if on such day no lower Pricing Level applies and the Company’s unsecured long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moody’s.

Level V Pricing applies at any date if, at such date, none of Level I Pricing, Level II Pricing, Level III Pricing or Level IV Pricing applies.