Pricing Levels. For purposes of this Agreement, the following terms have the following meanings, subject to the concluding paragraph of this Section 1.08:
Pricing Levels. For purposes of Sections 2.1(e) and 2.3(c), the applicable level of pricing (the "Pricing Level") shall be determined by Pricing Level Test A, provided, that in the event the Borrower receives a Long-Term Debt Rating, the Borrower may elect, which election shall be irrevocable so long as the Borrower has a Long-Term Debt Rating, by written notice to the Agent, to have the Pricing Level determined by Pricing Level Test B. Any change in the applicable Pricing Level resulting from the election of the Borrower to have Pricing Level Test B apply shall be effective as of the first day of the calendar month following the month in which the Agent receives written notice of such election from the Borrower. The Pricing Level Tests described in this clause (b) are as follows:
Pricing Levels. The Vendor agrees to sell Filtration Systems to the Purchaser, and the Purchaser agrees to purchase such Filtration Systems from the Vendor, at the confidential quantity and price levels set forth on Schedule I hereto and incorporated herein.
Pricing Levels. For purposes of this Agreement, the -------------- following terms have the following meanings, subject to the concluding paragraph of this Section 1.04: "LEVEL I STATUS" exists at any date if, at such date, the Borrower's senior unsecured long-term debt is rated A- and A3 or higher. "LEVEL II STATUS" exists at any date if, at such date, the Borrower's senior unsecured long-term debt is rated BBB+ and Baa1. "LEVEL III STATUS" exists at any date if, at such date, the Borrower's senior unsecured long-term debt is rated BBB and Baa2. "LEVEL IV STATUS" exists at any date if, at such date, the Borrower's senior unsecured long-term debt is rated BBB- and Baa3. "LEVEL V STATUS" exists at any date if, at such date, the Borrower's senior unsecured long-term debt is rated BBB- or Baa3. "LEVEL VI STATUS" exists at any date if, at such date, no other Status exists. The credit ratings to be utilized for purposes of the Euro-Dollar Margin, the Utilization Fee Rate and the Facility Fee Rate are those assigned by S&P or Xxxxx'x to the senior unsecured long-term debt securities of the Borrower without third-party credit enhancement, and any rating assigned to any other debt security of the Borrower shall be disregarded. The rating in effect at any date is that in effect at the close of business on such date. In the case of split ratings with respect to pricing from S&P and Xxxxx'x, the rating to be used to determine Status is the higher of the two (e.g. BBB+and Baa2 results in Level II Status); provided that in the event the split is more than one full category, the average (or the higher of two intermediate ratings) shall be used (e.g., BBB+ and Baa3 results in Level III Status, as does BBB+ and Ba1).
Pricing Levels. The definitions of "Level I Pricing", "Level II Pricing", "Level III Pricing", "Level IV Pricing" and "Level V Pricing" in Section 1.01 of the Credit Agreement are amended to read as follows:
Pricing Levels. For the purposes of Sections 2.06(a) and -------------- 2.05(a), the applicable level of pricing (the "Pricing Level") shall be determined as follows: Pricing Level Performance Ratio ------------- ----------------- Level I Less than 2.25x Level II 2.25x - 2.49x Level III 2.50x - 2.99x Level IV 3.00x - 3.49x Level V 3.50x - 3.99x Level VI Greater than or equal to 4.00x provided, that through the first day of the calendar month following the first determination of the Performance Ratio, the Applicable Margin shall equal (i) 175 basis points in respect of Euro-Rate based and As-Offered Rate based Loans which are Term Loan A Facility Term Loans and Revolving Credit Loans (including Swingline Loans), (ii) 225 basis points in respect of Euro-Rate based Loans which are Term Loan B Facility Term Loans and (iii) 75 basis points in respect of Base Rate based Loans. Together with each delivery of financial statements pursuant to Section 6.01(a) or 6.01(b), the Borrower shall deliver a certificate, duly completed and signed by the Treasurer, Controller or Chief Financial Officer of Borrower, setting forth the calculation of the Performance Ratio, as supported by the accompanying financial statements, stating the Pricing Level applicable to such Performance Ratio and calculating the U.S. Dollar Equivalent of the Revolving Credit Exposure. Except as expressly set forth herein, any change in the applicable Pricing Level shall be effective as of the first day of the calendar month following the month in which the applicable financial statements and certificate are received by the Administrative Agent.
Pricing Levels. The definitions of "Level", "Level I", "Level II", -------------- "Level III", "Level IV", and "Level V" are respectively deleted and replaced
Pricing Levels. For purposes of this Agreement, the following terms have the following meanings, subject to the concluding paragraph of this Section 1.4:
