Level IV Status definition

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 A3 or better or the Borrower’s S&P Rating is A- or better.
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Level IV 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, (i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (iii) the Leverage Ratio is less than 3.00 to 1.00.
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Level IV Status exists at any date if, at such date, (i) the Borrower’s Unsecured Long-Term Debt is rated A- or higher by S&P, A3 or higher by ▇▇▇▇▇’▇ or A- or higher by Fitch, and (ii) Level III Status does not exist. “Level V Status” exists at any date if, at such date, neither Level I Status, Level II Status, Level III Status or Level IV Status exists.
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Examples of Level IV Status in a sentence

  • The Applicable Fee Rate shall be Level IV Status until the delivery of the Financials for the first fiscal quarter ending after the Closing Date.

  • Notwithstanding the foregoing if the Borrower has failed to deliver the financial statements and certificates required by Section 6.2(a) and Section 6.2(b) then Level IV Status will be deemed to exist after two Business Days’ notice from the Agent to the Borrower.

  • Very truly yours, NORTHERN ILLINOIS GAS COMPANY By Title: Level I Status 0.035% 0.090% 0.000% 0.050% Level II Status 0.040% 0.110% 0.000% 0.050% Level III Status 0.050% 0.150% 0.000% 0.050% Level IV Status 0.060% 0.190% 0.000% 0.050% Level V Status 0.070% 0.230% 0.000% 0.050% Level VI Status 0.090% 0.360% 0.000% 0.050% Level VII Status 0.100% 0.500% 0.000% 0.050% Each change in a rating shall be effective as of the date it is announced by the applicable rating agency.

  • If at any time none of the Fincos has a ▇▇▇▇▇’▇ Rating, S&P Rating or Fitch Rating, Level IV Status shall exist with respect to Loans to any Borrower other than Harley.

  • Very truly yours, NORTHERN ILLINOIS GAS COMPANY By Title: Level I Status .100% 50% of CDX 1.50% Level II Status .125% 65% of CDX 1.75% Level III Status .150% 80% of CDX 2.00% Level IV Status .200% 90% of CDX 2.25% Level V Status .250% 100% of CDX 2.50% Each change in a rating shall be effective as of the date it is announced by the applicable rating agency.


More Definitions of Level IV Status

Level IV Status means none of Level I Status, Level II Status nor Level III Status exists, but, subject to the provisions of Schedule 1, the Borrower’s S&P Rating is A or higher and its ▇▇▇▇▇’▇ rating is A2 or higher.
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Level IV Status exists at any date if, on such date, (a) the Company has not qualified for Level I Status, Level II Status or Level III Status and (b) the Company's ▇▇▇▇▇'▇ Rating is Baa1 or better or the Company's S&P Rating is BBB+ or better. "Level V Status" exists at any date if, on such date, the Company has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status.
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Level IV Status exists at any date if the Borrower has not qualified for Level I Status, Level II Status or Level III Status.
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Level IV Status means, on any date, the circumstance that the Consolidated Total Debt to Consolidated EBITDA Ratio is less than 4.00 to 1.00 as of such date.
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Level IV Status exists on any date if, at such date, (ii) the Company’s outstanding senior unsecured long-term debt is rated BBB+ or an equivalent rating or higher by S&P or Baa1 or an equivalent rating or higher by ▇▇▇▇▇’▇ and (ii) none of Level I Status, Level II Status or Level III Status exists on such date. “Level V Status” exists on any date if none of Level I Status, Level II Status, Level III Status or Level IV Status exists on such date.
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Level IV Status means, on any date, the circumstance that neither Level I Status, Level II Status nor Level III Status exists and the Consolidated Total Debt to Consolidated EBITDA Ratio is greater than or equal to 4.50 to 1.00 as of such date.
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Level IV Status exists at any date if, at such date, neither Level I Status, Level II Status nor Level III Status exists and IBM has a long-term senior unsecured debt rating of A- or better by S&P or A3 or better by Moody’s.
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