Rating Level II definition

Rating Level II means a period (other than a Rating Level I) during which the long-term senior unsecured debt rating of Borrower is equal to or better than (i) BBB+ by S&P, or (ii) Baal by Mxxxx’x.
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Rating Level II has the meaning assigned to that term in Section 1.08.
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Rating Level II means an Applicable Rate Rating of BBB or higher by S&P or Baa2 or higher by Xxxxx'x and Rating Level I does not apply.
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Examples of Rating Level II in a sentence

  • Rating Level II - once every year.Rating Level III - twice every year.

  • Borrower shall pay to the Administrative Agent, for the account of the Banks ratably in proportion to their Commitments, a facility fee on the daily average aggregate amount of the Commitments (including both the portion thereof that is used and the portion thereof that is unused), at the rate of (i) 0.045% per annum during each Rating Level I, (ii) 0.055% per annum during each Rating Level II and (iii) 0.075% per annum during each Rating Level III.

  • For example, if S&P rates the Borrower's senior unsecured long-term debt A- and Moodx'x xxxes such debt Ba1, then Rating Level II would apply.

  • If Borrower is split-rated and the ratings differential is more than one level, the rating one level below the higher of the two ratings shall be used (e.g., A+/A3 results in a Rating Level II).


More Definitions of Rating Level II

Rating Level II exists on any date if, on such date, the Company’s senior unsecured debt is rated A- by S&P and A3 by Moody’s; or is rated at this level by one of the rating agencies and no lower than BBB+ or Baa1 by the other rating agency.
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Rating Level II means a period (other than a Rating Level I) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) A by S&P, or (ii) A2 by Moody’s.
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Rating Level II. If the Borrower's "senior debt" is rated equal to BBB- by S&P or Baa3 by Xxxxx'x but less than Rating Level I;
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Rating Level II. If the Borrower's senior, secured long-term bank debt is rated equal to BB by S&P or Ba2 by Moody's but less than Rating Level I;
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Rating Level II means a Debt Rating of BBB by S&P or Baa2 by Mxxxx'x.
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Rating Level II means a period (other than a Rating Level I) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) A by S&P, or (ii) A2 by Moody’s; provided that on or after the Second Amendment Effective Date, this term means a period (other than a Rating Level I) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB+ by S&P, or (ii) Baa1 by Moody’s.
Sample 1
Rating Level II means an Applicable Rate Rating of BBB or higher by S&P or Baa2 or higher by Moody's and Rating Level I does not apply.
Sample 1