Level VI definition

Level VI shall exist at any time the Applicable Credit Rating of S&P is BBB- and the Applicable Credit Rating of Xxxxx'x is Baa3.

Level VI the respective Level set forth below, as determined by the Ratings then in effect: provided that if on any day the Ratings of the Rating Agencies do not coincide for any rating category and the Level differential is (x) one level, then the higher Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the higher/highest of the intermediate Levels will be the applicable Level.

Level VI shall exist at any time the Leverage Ratio is greater than or equal to 4.00:1.

Examples of Level VI in a sentence

• The changes are intended to ensure clarity in the presentation of the OOS conditions and are not expected to affect the number of OOS violations cited during Level VI inspections in the United States.

• CVSA developed the North American Standard Level VI Inspection Program for Transuranic Waste and Highway Route Controlled Quantities of Radioactive Material.

• Single- and Multiple-voltage EPSs shall meet the Level VI or higher performance requirements under the International Efficiency Marking Protocol when tested according to the Uniform Test Method for Measuring the Energy Consumption of External Power Supplies, Appendix Z to 10 CFR Part 430.

• The changes are intended to ensure clarity in the presentation of the OOS conditions and are not expected to affect the number of OOS violations cited during Level VI inspections.

• The Recovery Schedule shall show the proposed changes to the Schedule, include cost loading and additional detail to substantiate the recovery plan, and shall reflect all proposed changes to WBS Level VI Activities through Project Completion.

More Definitions of Level VI

Level VI has the meaning specified in Section 2.09(a)(ii).

Level VI shall exist at any time the Total Leverage Ratio is less than 1.00:1.0.

Level VI applies on any day on which (i) the S&P Reference Rating is BB+ or lower and the Xxxxx'x Reference Rating is Ba1 or lower and (ii) none of Levels I, II, III, IV or V applies. In the event that the Reference Ratings do not correspond to the same Applicable Rating Level, then, (i) if the higher of such Reference Ratings corresponds to Levels I, II, III or V and (A) the Reference Ratings differ by only one rating level, the Applicable Rating Level that corresponds to the higher of such Reference Ratings shall apply, and (B) the Reference Ratings differ by more than one rating level, the Applicable Rating Level that is one level below the Applicable Rating Level that corresponds to the higher of such Reference Ratings shall apply, and (ii) if the Reference Ratings differ by more than one rating level and the lower of such Reference Ratings corresponds to Level VI, the Applicable Rating Level that corresponds to the lower of such Reference Ratings shall apply. The Applicable Rating Level shall be redetermined as and when any change in the ratings used in the determination thereof shall be announced by S&P or Xxxxx'x, as the case may be.

Level VI. Status" exists at any date if the Borrower has not qualified for Level I Status, Level II Status or Level III Status, Level IV Status or Level V Status on such date.

Level VI shall exist at any time none of the other Levels applies. If there is a split rating (i.e., the Xxxxx’x Rating and the S&P Rating would not result in the same pricing), the Company shall be entitled to the benefit of the higher rating; provided that if there is a differential of two or more levels in the table above, the level immediately below the higher applicable level shall apply. If at any time the Company has no Xxxxx’x Rating or no S&P Rating, then the percentages contained in Level VI shall apply. Bank of America, N.A. $ 93,750,000 75.00 % LaSalle Bank National Association $ 31,250,000 25.00 %

Level VI shall exist at any time none of the other Levels applies. If there is a split rating (i.e., the Moody's Rating and the S&P Xxxxxx would not result in the same pricing), the Borrower shall be entitled to the benefit of the higher rating, except in the case of Level IV; provided that if there is a differential of two or more levels in the table above, the level immediately below the higher applicable level shall apply. If at any time the Company has no Moody's Rating or no S&P Raxxxx, xhen the percentages contained in Level VI shall apply.

Level VI means the Borrower's Leverage Ratio as of the end of the Borrower's fiscal quarter ending immediately prior to the most recent Pricing Date is greater than or equal to 4.00 to 1.00 and less than 4.50 to 1.00.