Level III Pricing definition
Examples of Level III Pricing in a sentence
Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.30% per annum during any Level II Pricing Period, (iii) 0.375% per annum during any Level III Pricing Period or Level IV Pricing Period or (iv) 0.4375% during any Level V Pricing Period.
Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.375% per annum during any Level II Pricing Period, (iii) 0.4375% per annum during any Level III Pricing Period or (iv) 0.50% at all other times.
Each Level I Pricing Period, Level II Pricing Period, Level III Pricing Period or Level IV Pricing Period (each a "Pricing Period") shall commence on (and include) the date that is the first day of the third month following the end of each fiscal quarter of the Borrower and shall terminate on the day before the beginning of the next Pricing Period.
LEVEL IV PRICING applies at any date if (i) the Applicable Leverage Ratio is greater than or equal to 0.30 and (ii) neither Level I Pricing, Level II Pricing nor Level III Pricing applies.