Examples of Pricing Level V in a sentence
If no Rating exists, the applicable Pricing Level shall be based on Pricing Level V until the earlier of (A) such time as S&P and/or Xxxxx'x provides another Rating or (B) the Required Lenders have agreed to an alternative pricing grid or other method for determining Pricing Levels pursuant to an effective amendment to this Credit Agreement.
If the Borrower has no Fitch Rating, no Xxxxx’x Rating and no S&P Rating, Pricing Level V shall apply.
Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV, Pricing Level V or Pricing Level VI, as the case may be.
For purposes of the foregoing, (a) if no Debt Rating shall be available, such rating agencies shall be deemed to have established a Debt Rating which is one rating grade higher than the subordinated debt rating grade of the Borrower, (b) if no Debt Rating or subordinated debt rating grade shall be available, the Applicable Rate shall be as set forth in Pricing Level V.
While Pricing Level V is in effect, any existing LIBOR Rate Loan will be converted into a Base Rate Loan upon conclusion of the Interest Period applicable to such LIBOR Rate Loan.