Pricing Level I definition

Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

Pricing Level I any time when the senior unsecured long term debt rating of the Borrower by (x) S&P is A or higher or (y) Xxxxx’x is A2 or higher.

Pricing Level I means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is A- or higher by S&P or A3 or higher by Moody’s.

Examples of Pricing Level I in a sentence

• The Applicable Rate in effect from the Closing Date through the date on which Borrower delivers its Compliance Certificate for the quarter ending June 30, 2022 to Agent shall be determined based upon Pricing Level I.

• If at any time there is a split in the Debt Ratings issued by the Rating Agencies, then the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level I being the highest and the Debt Rating for Pricing Level VI being the lowest), unless there is a split in Debt Ratings of more than one Pricing Level, in which case the Pricing Level that is one Pricing Level higher than the Pricing Level of the lower Debt Rating shall apply.

• If any financial statements referred to above are not delivered within the time periods specified by Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, Pricing Level I shall apply to the Revolving Credit Loans.

• In addition, at all times while an Event of Default shall have occurred and be continuing, Pricing Level I shall apply to the Revolving Credit Loans.

• At any time the Borrower has not submitted to the Administrative Agent the applicable information as and when required under Section 5.1(e) or at any time a Default or Event of Default has occurred and is continuing, the Applicable Margin for Revolving Loans shall be set at Pricing Level I.

More Definitions of Pricing Level I

Pricing Level I means at any time the Borrower’s Senior Debt Rating is (a) A+ or higher by S&P or (b) A1 or higher by Moody’s.

Pricing Level I means any time when the Senior Debt Rating is A+ or higher by S&P or A1 or higher by Xxxxx’x.

Pricing Level I the Pricing Level which would be applicable for so long as the Senior Debt Rating is greater than or equal to A- by S&P or A3 by Xxxxx’x;

Pricing Level I any time when the Leverage Ratio is less than or equal to 1.50:1.00.

Pricing Level I means the Pricing Level that will be in effect for the applicable Pricing Period if, as at the relevant Date of Determination, (i) the Adjusted Leverage Ratio is less than 0.5:1 and (ii) the Adjusted Interest Coverage Ratio is greater than 3:1.

Pricing Level I 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 Revolving Loans and Swingline Loans.

Pricing Level I the Pricing Level which would be applicable for so long as the Senior Debt Rating is greater than or equal to AA- by S&P or Aa3 by Moodx'x;