Applicable Level means each level under the column titled “Applicable Level” within the definition of “Applicable Margin”.
Applicable Level means, as of any day, Level I, Level II, Level III or Level IV below, whichever is applicable on such day, with each new Level to take effect on the day following the delivery to the Administrative Agent by the Company of the financial statements referred to in Section 8.1(a) or (b), as the case may be, and the related certificate of a Responsible Officer on behalf of the Company referred to in Section 8.2(b) for any fiscal quarter indicating the ratio of Consolidated Total Indebtedness as of the last day of the period covered by such financial statements to Consolidated EBITDA for the period of four consecutive fiscal quarters ending on the last day of the period covered by such financial statements: Applicable Level Ratio of Consolidated Total Indebtedness to Consolidated EBITDA I Greater than or equal to 3.25 to 1.00 II Greater than or equal to 2.50 to 1.00 but less than 3.25 to 1.00 III Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00 IV Less than 2.00 to 1.00 provided, however, that: (i) in the event that the financial statements required to be delivered pursuant to Section 8.1(a) or 8.1(b) and the related certificate of a Responsible Officer on behalf of the Company referred to in Section 8.2(b) are not delivered when due for any fiscal quarter, then during the period from the date upon which such financial statements and certificate were required to be delivered, until the date upon which they actually are delivered, the Applicable Level for Revolving Credit Loans and Swing Line Loans shall be Level I; (ii) in the event the financial statements required to be delivered pursuant to Section 8.1(a) or 8.1(b) and the related certificates of a Responsible Officer on behalf of the Company referred to in Section 8.2(b) for any fiscal quarter are proven to have been incorrect, then the Applicable Level for the relevant period shall be adjusted retroactively to reflect the level which would have applied for such period based on the corrected ratio of Consolidated Total Indebtedness as of the last day of the period covered by such financial statement to Consolidated EBITDA for the period of four consecutive fiscal quarters ending on the last day of the period covered by such financial statements, and any additional interest owing as a result of such readjustment shall be payable on demand; and (iii) at all times during which a Default or an Event of Default shall have occurred and be continuing, the Applicable Level for Revolving Credit Loans ...
Applicable Level means the level determined with reference to the following chart: Level Ratio Rating ----- ----- ------ I greater than or equal to 7.5x greater than or equal to A-/A3 II greater than 6.5x BBB+/Baa1 III greater than 5.5x BBB/Baa2 IV greater than 4.5x BBB-/Baa3 V greater than or equal to 3.5x BB+/Ba1 VI lesser than 3.5x lesser than BB+/Ba1 For purposes of the foregoing, (i) for the six month period following from and after the Closing Date, the Applicable Level shall be Level IV; (ii) on the date that is six months after the Closing Date, the Borrower shall provide the Administrative Agent with a Compliance Certificate showing the ratio of Applicable EBITDA to Applicable Interest Expense of the Borrower for the fiscal quarter ended January 31, 1998 (and in the event the Borrower fails timely to provide such Compliance Certificate, the Applicable Level shall be Level V until such Compliance Certificate is provided), and from such date until May 23, 1998, the Applicable Level shall be the Level corresponding to such ratio; (iii) except as provided in (i) and (ii) above, at any time of determination, the Applicable Level shall be the Level corresponding to the ratio of Applicable EBITDA to Applicable Interest Expense (for the most recent four consecutive fiscal quarters; provided that for the periods ended May 23, 1998 and August 15, 1998, Applicable EBITDA and Applicable Interest Expense shall be calculated by reference to the full fiscal quarters then ended since the Closing Date) as set forth in the most recently delivered Compliance Certificate (it being understood and agreed that if the Borrower shall not have delivered the most recently due Compliance Certificate within the time period specified in Section 5.1(c), the Applicable Level shall be Level V until such Compliance Certificate is delivered) (for purposes of this definition, the "Ratio") and the senior unsecured long term debt rating of the Borrower from S&P and Mxxxx'x (for
Examples of Applicable Level in a sentence
The contrast in the perceptions of the household respondents from these two communities could be entirely based on the level of benefits and/or opportunities provisioned by the public-private partnership structure under the different FBLR models.
The table (Annexe II-3, Benchmarking A, B) includes information and analysis on the Applicable Level of Functions, —The basic management function/s necessary to achieve Disaster Reduction, the characteristics of Best Practices in Disaster Reduction, the possible Benchmarks, the recommendations on priority and urgency and the estimated impact on human resources for ECHO.
REQUIREMENTS ON RESPONSIBLE INDIVIDUALS FOR ENSURING COMPLIANCE OF THE SERVICEQ15.
STEP 5: Complete the Procedures for the Applicable Level of Environmental Review Listed below are the basic procedural steps in completing the most common levels of environmental review.
PAY FOR DAMAGES: The offender will pay the cost of repair or replacement or areasonable portion of the total as determined by the warden or designee for lost, damaged, or destroyed state property.Level 1 Violations – Applicable Level 2 Violations – Applicable Level 3 Violations – ApplicableD-10.
More Definitions of Applicable Level
Applicable Level means one of the levels set forth below determined by the Senior Unsecured Debt Rating as follows:
Applicable Level means the level set forth opposite the Debt Ratings then in effect. Any change in the Applicable Level shall become effective upon any public announcement of any change in any Debt Rating that requires a change in the Level in accordance with the above chart.
Applicable Level as of any day, Xxxxx 0, Xxxxx 0, Xxxxx 0 or Level 4 below, whichever is applicable on such day, with each new Level to take effect on the day following the delivery to the Administrative Agent by the Borrower of the financial statements referred to in subsections 7.1(a) and (b) and the related certificate of the chief financial officer of the Borrower referred to in subsection 7.2(b), indicating the ratio of Total Indebtedness as of the end of the period covered by such financial statements to Annualized Consolidated EBITDA for the period covered by such financial statements: Ratio of Consolidated Total Indebtedness to Annualized Consolidated EBITDA_ Level 1 Greater than or equal to 4.00 to 1.0 Level 2 Greater than or equal to 3.50 to 1.0 but less than 4.00 to 1.0 Level 3 Greater than or equal to 2.50 to 1.0 but less than 3.50 to 1.0 Level 4 Less than 2.50 to 1.0 provided, however, that, in the event that the financial statements required to be delivered pursuant to subsection 7.1(a) or 7.1(b) and the related certificate of the chief financial officer of the Borrower referred to in subsection 7.2(b) are not delivered when due, then during the period from the date upon which such financial statements and certificate were required to be delivered until the date upon which they actually are delivered, the Applicable Level shall be Level 1.
Applicable Level means at any time the highest of Level I, Level II, Level III, Level IV and Level V in effect determinxx xx xxxxxxxxxx xxxx Xxxxxxxx 0.00(X).
Applicable Level means at any time the highest of Level I, Level II, Level III and Level IV in effect determined in accordance with Schedule 1.01(A).
Applicable Level means, Level I, Level II or Level III below, whichever is applicable on such day, with each new Level to take effect on each Adjustment Date: Applicable Level Average Historical Availability I Less than 33% of the Line Cap II Less than or equal to 66 2/3% of the Line Cap but greater than or equal to 33% of the Line Cap III Greater than 66 2/3% of the Line Cap Each determination of the Average Historical Availability shall be made in a manner consistent with the determination thereof pursuant to the definition of the term “Average Historical Availability”.
Applicable Level in the Pay Matrix shall mean the Level corresponding to the Pay Band and Grade Pay/ scale as on 1st January, 2016 specified in Schedule-I ;