Level I Rating definition

Level I Rating means, for the applicable rating agency: Borrower’s Xxxxx’x Rating is A3 or better; Borrower’s S&P Rating is A- or better.

Level I Rating means, for the applicable rating agency: Borrower’s Moody’s Rating is A3 or better; Borrower’s S&P Rating is A- or better.

Level I Rating means at any time, either (a) there exists a Company Rating by Standard & Poor's which is equal to or higher than A- or (b) there exists a Company Rating by Moody's which is equal to or higher than A3. For purposes of this definition, the Company shall be deemed not to have a Level I Rating (x) if each Company Rating which would otherwise qualify as a Level I Rating has been stated by the relevant rating agency to be under review for possible downgrading as a result of a specific or proposed action by the Company, in which case the Company shall be deemed to have a Level II Rating, or

Examples of Level I Rating in a sentence

• The Company shall pay to the Agent for ------------ the account of the Banks ratably a facility fee at the rate of (i) for any day on which the Company has a Level I Rating, .035 of 1% per annum, (ii) for any day on which the Company has a Level II Rating, .050 of 1% per annum, (iii) for any day on which the Company has a Level III Rating, .070 of 1% per annum and (iv) for any day on which the Company has a Level IV Rating, .100 of 1% per annum.

• Xxxxxxxxxx Title: Vice President SCHEDULE I FACILITY FEE AND APPLICABLE MARGIN *RATING LEVELS Rating Level Level I Rating Level Level II Rating Level Level III Rating Level Level IV Rating Level Level V If the Borrower’s senior unsecured long- term debt is rated A+ or higher by S&P or A1 or higher by Xxxxx’x.

• On and after the occurrence of a Level I Rating Event any and all German Receivables governed by German law which arise under a Contract that contains a restriction on assignment shall not be Eligible Receivables.

• SCHEDULE I FACILITY FEE AND APPLICABLE MARGIN Rating Level Level I Rating Level Level II Rating Level Level III Rating Level Level IV Rating Level Level V *RATING LEVELS If the Borrower’s senior unsecured long-term debt is rated A+ or higher by S&P or A1 or higher by Xxxxx’x.

More Definitions of Level I Rating

Level I Rating means, with respect to any Borrower, (a) with respect to the 364-Day Revolver, a senior unsecured long-term debt rating of at least AAA from S&P or at least Aaa from Moody's, and (b) with respect to the Multi-Year Revolver, (i) xx X&X and/or Moody's has assigned a rating to the senior unsecured long-terx xxxx of such Borrower, then a rating of at least AAA from S&P or at least Aaa from Moody's, or (ii) if neither S&P nor Moody's has assigned a ratxxx xx the senior unsecured long-terx xxxx of such Borrower, then public commercial paper ratings of A-1+ from S&P or P-1 from Moody's."

Level I Rating means, with respect to any Borrower, (i) if S&P and/ or Xxxxx'x has assigned a rating to the senior unsecured long-term debt of such Borrower, then a rating of at least AAA from S&P or at least Aaa from Xxxxx'x, or (ii) if neither S&P nor Xxxxx'x has assigned a rating to the senior unsecured long-term debt of such Borrower, then public commercial paper ratings of A-1+ from S&P or P-1 from Xxxxx'x.

Level I Rating means, with respect to the rating of short-term unsecured debt securities by S&P and/or Xxxxx'x, at least A1+ in the case of S&P and P1 in the case of Xxxxx'x.

Level I Rating means, with respect to the rating of commercial paper notes by S&P or Xxxxx'x, Al+ in the case of S&P and P1 in the case of Xxxxx'x.

Level I Rating means, with respect to the rating of commercial paper notes by any rating agency, A1, in the case of S&P, P1, in the case of Moody's, and an equivalent rating, in the case of any other nationally recognized rating agency. "Level I Status" exists at any date (i) if, on such date, the Company's unsecured commercial paper notes that do not have the benefit of credit enhancement from any third party (or if, on such date, the Company has no such commercial paper notes that are rated by at least two nationally recognized rating agencies, JHCC's unsecured commercial paper notes that do not have the benefit of credit enhancement from any third party other than the Company) are rated by only two nationally recognized rating agencies, such commercial paper notes are rated at least the Level I Rating by both such rating agencies, or (ii) if, on such date, the Company's unsecured commercial paper notes that do not have the benefit of credit enhancement from any third party (or if, on such date, the Company has no such commercial paper notes that are rated by at least two nationally recognized rating agencies, JHCC's unsecured commercial paper notes that do not have the benefit of credit enhancement from any third party other than the Company) are rated by more than two nationally recognized rating agencies, such commercial paper notes are rated at least the Level I Rating by at least a majority of such rating agencies.

Level I Rating means at any time, either (a) there exists a Company Rating by Standard & Poor's which is equal to or higher than A- or (b) there exists a Company Rating by Moody's which is equal to or higher than A3. For purposes of this definition, the Company shall be deemed not to have a Level I Rating (x) if each Company Rating which would otherwise qualify as a Level I Rating has been stated by the relevant rating agency to be under review for possible downgrading as a result of a specific or proposed action by the Company, in which case the Company shall be deemed to have a Level II Rating, or (y) if no Company Rating exists.

Level I Rating means a senior unsecured long-term debt rating of AAA from S&P, or an Equivalent Rating.