Performance Level 3 definition

Performance Level 3 means that level of financial performance of the U.S. Borrower and its Subsidiaries, on a consolidated basis, measured as of the end of a fiscal quarter of the U.S. Borrower, at which the ratio of Funded Debt as of the end of such fiscal quarter to EBITDA for the then most recently ended four (4) fiscal quarter period of the U.S. Borrower is greater than 3.50 to 1.00 and less than or equal to 4.00 to 1.00.
Sample 1Sample 2
Performance Level 3 means that level of financial performance of the Company, on a consolidated basis, in effect on any given date at which the long term, senior unsecured, non-credit enhanced Indebtedness of the Company is rated lower than that required for Performance Level 2.
Sample 1Sample 2
Performance Level 3 means that level of financial performance of the Borrower Group, on a consolidated basis, measured as of the end of a fiscal quarter of ASOC, at which the ratio of Funded Debt of the Borrower Group to EBITDA of the Borrower Group for the then most recently ended four (4) fiscal quarter period of ASOC is greater than 2.50 : 1.0 and less than or equal to 3.0 : 1.0.
Sample 1

Examples of Performance Level 3 in a sentence

  • The Base Rate Margin and Eurodollar Rate Margin applicable for the period commencing on April 1, 1998 and ending on July 31, 1998 shall be determined based on Borrowers' compliance with Performance Levels 1 through 6, PROVIDED, HOWEVER, in no event shall the Base Rate Margin and Eurodollar Rate Margin for such period exceed those determined based on Performance Level 3.

  • To be a "qualified participant" in the KMBP, an individual must be in a KMBP position on or before the first Monday in November of the applicable fiscal year, remain in a KMBP position for at least 90 days, have a performance rating of Meets Expectations or Competent Performance (Level 3) or better for the applicable fiscal year, and be actively working for the Company on the last day of the bonus period.

  • The Base Rate Margin and Eurodollar Rate Margin applicable for the period commencing on April 1, 1998 and ending on July 31, 1998 shall be determined based on Borrower's compliance with Performance Levels 1 through 6, PROVIDED, HOWEVER, in no event shall the Base Rate Margin and Eurodollar Rate Margin for such period exceed those determined based on Performance Level 3.

  • ALBEMARLE CORPORATION By: ______________________________ PARTICIPANT: _______________________________ «Name» 6 EXHIBIT A Adjusted ROIC Performance Goals Performance Level 3 -Year Adjusted ROIC Achieved in Measurement Period Percentage of Target Units Earned* Poor Less than % 0% Threshold % 30% Target % 100% Superior % 200% * The percentage of Target Units earned for performance between the Threshold, Target and Superior Performance Levels will be determined by linear interpolation.


More Definitions of Performance Level 3

Performance Level 3 means that level of financial performance of the Parent, on a consolidated basis, measured as of the end of a fiscal quarter of ASOC, at which the ratio of Funded Debt of the Parent to EBITDA of the Parent for the then most recently ended four (4) fiscal quarter period of ASOC is greater than 3.25 to 1.0 and less than or equal to 3.75 to 1.0.
Sample 1
Performance Level 3 means that level of financial performance of Aviation Sales and its Subsidiaries, on a consolidated basis, measured as of the end of a Fiscal Quarter, at which the Consolidated Funded Debt-to-EBITDA Ratio of Aviation Sales for the then most recently ended Four-Quarter Period is greater than 5.0 to 1.0."
Sample 1
Performance Level 3 means that level of financial performance of the Borrower and its Subsidiaries, on a consolidated basis, measured as of the end of a fiscal quarter of the Borrower, at which the ratio of Funded Debt of the Borrower to EBITDA of the Borrower for the then most recently ended four (4) fiscal quarter period of the Borrower is greater than 2.50 : 1.0 and less than or equal to 3.0 : 1.0.
Sample 1
Performance Level 3 means that level of financial performance of the Parent and its Subsidiaries, on a consolidated basis, measured as of the end of a Fiscal Quarter, at which the ratio of Funded Debt of the Parent at such date to EBITDA of the Parent for the then most recently ended four (4) Fiscal Quarter period is greater than 5.0 to 1.0.
Sample 1
Performance Level 3 means, at any date of determination, (a) that the Borrower does not meet the requirements of Performance Xxxxx 0 or Performance Level 2 and (b) that the Borrower shall have a Debt Rating in effect on such date of at least BB+ by S&P (or the corresponding rating of any Replacement Ratings Agency) and at least Ba1 by Xxxxx’x (or the corresponding rating of any Replacement Ratings Agency).
Sample 1
Performance Level 3 means that level of financial performance of the Company, on a consolidated basis, in effect on any given date at which the long term, senior unsecured, non-credit enhanced Indebtedness of the Company is rated BBB by S&P or Baa2 by Moody's.
Sample 1

Related to Performance Level 3

  • Performance Level means a reference to one of Performance Level I, Performance Level II, Performance Level III, Performance Level IV or Performance Level V.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Standard means the acceptable range of performance for a Performance Indicator or a Service Volume that results when a Performance Corridor is applied to a Performance Target.

  • performance requirement means a requirement that:

  • Performance Targets means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

  • Performance Metrics means criteria established by the Administrator relating to any of the following, as it may apply to an individual, one or more business units, divisions, or Affiliates, or on a company-wide basis, and in absolute terms, relative to a base period, or relative to the performance of one or more comparable companies, peer groups, or an index covering multiple companies:

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Performance Measures means measures as described in Article 12 on which the performance goals are based and which are approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation.

  • Performance Condition means a condition related to performance which is specified by the Committee under Rule 4.1 (Terms of grant);

  • Service Level means the standard set forth below by which IBM measures the level of service it provides in this SLA.

  • Performance Conditions means specific levels of performance of the Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis, including, without limitation, the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital), which may be but are not required to be measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures and total stockholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv) objective measures of customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value; (xviii) sales; (xix) stockholder return; (xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects (including, but not limited to, succession and hiring projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and meeting divisional or project budgets); (xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book value; (xxvii) strategic objectives; (xxviii) gross or net authorizations; (xxix) backlog; or (xxx) any combination of the foregoing. Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an absolute or relative basis to measure the performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more members of the Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices.

  • Performance Monitoring System has the meaning given to it in paragraph 1.1.2 in Part B of Schedule 6 (Service Levels, Service Credits and Performance Monitoring);

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Strike Level means the Strike Level as specified in § 1 of the Product and Underlying Data.

  • RBC level means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.

  • Performance Goal means a performance goal established by the Committee pursuant to Section 10.3.

  • Performance Review means a summative evaluation of a teacher other than a beginning teacher and used to determine whether the teacher’s practice meets school district expectations and the Iowa teaching standards, and to determine whether the teacher’s practice meets school district expectations for career advancement in accordance with Iowa Code section 284.7.