Applicable Maximum Level definition
Applicable Maximum Level means (x) 3.50 to 1.00, or (y) 3.75 to 1.00, provided that (1) the Company may elect the Applicable Maximum Level of 3.75 to 1.00 only for up to three consecutive Applicable Relief Periods, and (2) the Company may elect an Applicable Maximum Level of 3.50 to 1.00 for any or all of the Applicable Relief Periods; and (c) the “Applicable Coupon Adjustment”) means 0.25% per annum during any Applicable Relief Period when the Applicable Maximum Level is 3.50 to 1.00, or 0.50% per annum during any Applicable Relief Period when the Applicable Maximum Level is 3.75 to 1.00;
Applicable Maximum Level has the meaning specified in Section 7.01(b).
Applicable Maximum Level means (x) 3.50 to 1.00, or (y) 3.75 to 1.00, provided that (1) the Borrower may elect the Applicable Maximum Level of 3.75 to 1.00 only for up to three consecutive Applicable Relief Periods, and (2) the Borrower may elect an Applicable Maximum Level of 3.50 to 1.00 for any or all of the Applicable Relief Periods;