Level III Pricing definition

Level III Pricing applies on any day on which (i) the Borrower’s long-term debt is rated A- or higher by S&P or A3 or higher by Moody’s and (ii) neither Level I Pricing nor Level II Pricing applies.

Level III Pricing applies at any date if, at such date, (i) Whirlpool’s senior unsecured long-term debt is rated BBB or higher by S&P or Baa2 or higher by Moody’s and (ii) neither Level I Pricing nor Level II Pricing applies.

Level III Pricing applies at any date if, at such date, (i) the Company's long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moody's and (ii) neither Level I Pricing nor Level II Pricing applies, except as provided below under "Split Rating".

Examples of Level III Pricing in a sentence

• Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.30% per annum during any Level II Pricing Period, (iii) 0.375% per annum during any Level III Pricing Period or Level IV Pricing Period or (iv) 0.4375% during any Level V Pricing Period.

• Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V ³BBB+/ Baa1/BBB+ BBB/ Xxx0/XXX XXX-/ Xxx0/XXX- XX+/ Xx0/XX+ £BB/ Ba2/BB 0.125% 0.150% 1.750% 0.300% 0.350% The foregoing pricing shall be based on the Public Debt Ratings.

• Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.375% per annum during any Level II Pricing Period, (iii) 0.4375% per annum during any Level III Pricing Period or (iv) 0.50% at all other times.

• Status Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V Senior Debt Rating ≥ A/A/ A2 ≥ A-/A-/A3 ≥ BBB+/BBB+/Baa1 ≥ BBB/BBB/Baa2 < BBB/BBB/Baa2 Applicable Margin for Eurodollar Rate loans and Letter of Credit participation fees 0.900% 1.000% 1.075% 1.275% 1.475% Applicable for facility fees 0.100% 0.125% 0.175% 0.225% 0.275% Applicable Margin for ABR loans 0% 0% 0.

• LEVEL IV PRICING applies at any date if (i) the Applicable Leverage Ratio is greater than or equal to 0.30 and (ii) neither Level I Pricing, Level II Pricing nor Level III Pricing applies.

More Definitions of Level III Pricing

Level III Pricing means the pricing during any period during which (i) the Company's long-term senior unsecured debt is rated A+ or higher by S&P or A1 or higher by Moody's and (ii) neither Level I Pricing nor Level II Pricing applies.

Level III Pricing applies during any Rate Period if no higher Pricing Level applies and, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was equal to or greater than 2.00 to 1.

Level III Pricing applies on any day if on such day Level II Pricing does not apply and the Company’s unsecured long-term debt securities are rated A- or higher by S&P or A3 or higher by Moody’s.

Level III Pricing applies at any date if, at such date, the Borrower’s long-term debt is rated BBB by S&P and Baa2 by Moody’s.

Level III Pricing applies if the Debt Rating at the most recent Performance Pricing Determination Date was equal to A- or A3.

Level III Pricing applies, subject to clause (b) of the definition of Pricing Level, from (a) the Adjustment Date following a fiscal quarter for which [____________] until (b) the next subsequent Adjustment Date on which another Pricing Level becomes applicable.

Level III Pricing applies on any day on which the Reference Rating is BB+/Ba1/BB+.