Pricing Level V definition

Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.
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Pricing Level V means any time when none of Pricing Levels I, II, III or IV is applicable.
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Pricing Level V means at any time the Borrower’s Senior Debt Rating is (a) BBB or higher by S&P or (b) Baa2 or higher by Moody’s, and Pricing Levels I, II, III and IV are not applicable.
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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.

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

  • If the Borrower has no Fitch Rating, no Xxxxx’x Rating and no S&P Rating, Pricing Level V shall apply.

  • In the event that both Xxxxx’x and Standard & Poor’s shall not have in effect a Debt Rating (other than by reason of the circumstances referred to in the last sentence of this paragraph), then such Debt Rating shall be deemed to be at Pricing Level V.

  • 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.


More Definitions of Pricing Level V

Pricing Level V means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is (x) BB+ or higher by S&P and Baa3 or higher by Moody’s or (y) BBB- or higher by S&P and Ba1 or higher by Moody’s and (iii) Pricing Levels I, II, III and IV do not apply.
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Pricing Level V 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 Xxxxx’x and Pricing Levels I, II, III and IV are not applicable.
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Pricing Level V means at any time the Borrower’s Senior Debt Rating is (a) BBB or higher by S&P or (b) Baa2 or higher by Xxxxx’x, and Pricing Levels I, II, III and IV are not applicable.
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Pricing Level V any time when the Leverage Ratio is greater than 1.50:1.00 but less than or equal to 2.00:1.00.
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Pricing Level V shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is less than or equal to 2.00 to 1.00 and shall apply to the Term Loans.
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Pricing Level V 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 Borrower's Adjusted Funded Debt as measured on such Date of Determination, to the Borrower's EBITDA as measured on such Date of Determination, is equal to or greater than 2.51 to 1.00 but is less than or equal to 3.00 to 1.0.
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Pricing Level V shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 2.00 to 1.00.
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