Level B Status definition

Level B Status means, on any date, the circumstance that Level A Status does not exist and the Consolidated Total Debt to Consolidated EBITDA Ratio is less than 5.50 to 1.00 as of such date.
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Level B Status. (which shall apply if Level B Status applies at the close of business on June 30, 2012) as such Lender’s “Commitment” and (b) in the case of any Lender that becomes a Lender after the date hereof, the amount specified as such Lender’s “Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the Total Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The initial aggregate amount of the Commitments shall be €458,000,000 if Level B Status applies as at the close of business on June 30, 2012 and shall be €229,000,000 if Level A Status applies at such time.
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Level B Status shall exist for this Agreement if the Consolidated Net Debt at June 30, 2012 is less than US$3,250,000,000.
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More Definitions of Level B Status

Level B Status exists at any date if, at such date, the Senior Secured Leverage Ratio is greater than 2.00 to 1.00.
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Level B Status shall exist on any date if the Net Leverage Ratio as of such date, or the most recent determination date occurring prior to such date, is less than 3.00 to 1.00.
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Level B Status exists at any date if, at such date, the Total Leverage Ratio is equal to or greater than 3.00 to 1.00.
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Related to Level B Status

  • Level V Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status.

  • Level VI Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status.

  • Level IV Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (ii) the Borrower's ▇▇▇▇▇'▇ Rating is Baa3 or better or the Borrower's S&P Rating is BBB- or better.

  • Level III Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status or Level II Status and (ii) the Borrower's ▇▇▇▇▇'▇ Rating is Baa2 or better or the Borrower's S&P Rating is BBB or better.

  • Level I Status exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is less than 1.00 to 1.00.