Pricing Level IV definition
Pricing Level IV means at any time the Borrower’s Senior Debt Rating is (a) BBB+ or higher by S&P or (b) Baa1 or higher by Moody’s, and Pricing Levels I, II and III are not applicable.
Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.
Pricing Level IV any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB or higher or (y) ▇▇▇▇▇’▇ is Baa2 or higher and (ii) none of Pricing Level I, Pricing Level II or Pricing Level III applies.
Examples of Pricing Level IV in a sentence
The Borrower confirms that, as of the Effective Date, Pricing Level IV is in effect.
The Debt Rating shall be better than or equal to the ----------- Debt Rating designated in the Debt Rating Table for Performance Pricing Level IV.
From the date of the Agreement through the first Pricing Level Adjustment Date (as hereinafter defined) occurring after April 30, 1998, Pricing Level IV shall apply.
The Applicable Percentage in effect from the Closing Date through the date of delivery of the Compliance Certificate for the fiscal quarter ending June 30, 2007 shall be determined based on Pricing Level IV.
From the Effective Date to the first Pricing Date, the Pricing Level IV shall apply.
More Definitions of Pricing Level IV
Pricing Level IV shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.25 to 1.00.
Pricing Level IV any time when the Leverage Ratio is greater than 2.00:1.00 but less than or equal to 2.50:1.00.
Pricing Level IV the Pricing Level which would be applicable for so long as the Senior Debt Rating is less than BBB- by S&P or Baa3 by ▇▇▇▇▇’▇ and Pricing Levels I, II and III are not applicable.
Pricing Level IV shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is greater than 2.00 to 1.00 and shall apply to the Term Loans.
Pricing Level IV will be applicable for so long as the Senior Unsecured Debt Rating is BB+ by S&P or Ba1 by Moody’s. “Pricing Level V” will be applicable for so long as the Senior Unsecured Debt Rating is lower than BB+ by S&P or lower than Ba1 by Moody’s.
Pricing Level IV means at any time the Borrower’s Issuer Rating is (a) BBB- or higher by S&P, (b) Baa3 or higher by ▇▇▇▇▇’▇ or (c) BBB- or higher by Fitch, and Pricing Levels I, II and III are not applicable.
Pricing Level IV means the Pricing Level that will be in effect for the applicable Pricing Period if, as of the relevant Date of Determination, the ratio of the Borrowers' Indebtedness as measured on such Date of Determination, to the Borrowers' Cash Flow from Operations as measured on such Date of Determination, is equal to or greater than 2.00 to 1.0, but less than 2.50 to 1.0.