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 Xxxxx'x Rating is Baa3 or better or the Borrower's S&P Rating is BBB- or better.

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.

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 Moody’s 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.

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.

• During a Default that remains uncured (prior to an Event of Default) or a Deficiency, interest will be determined at the applicable Level IV Status Floating Rate per annum plus an additional fifty basis points (0.50%) as to Floating Rate Advances or applicable Level IV Status Eurodollar Rate plus an additional two hundred basis points (2.00%) as to Eurodollar Rate Loans per annum as to Eurodollar Rate.

• The "FACILITY FEE RATE" at any date is: (i) 0.050% if Level I Status exists at such date, (ii) 0.055% if Level II Status exists at such date, (iii) 0.060% if Level III Status exists at such date, (iv) 0.090% if Level IV Status exists at such date or (v) 0.125% if Level V Status exists at such date.

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

• The Company shall pay to the Agent for the account of each Bank a facility fee on the entire portion of such Bank’s Commitment (whether utilized or unutilized), computed on a quarterly basis in arrears on the last Business Day of each calendar quarter, equal to (i) 0.060% per annum if Level I Status exists, (ii) 0.070% per annum if Level II Status exists, (iii) 0.080% per annum if Level III Status exists, (iv) 0.100% per annum if Level IV Status exists and (v) 0.125% per annum if Level V Status exists.

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 Xxxxx’x rating is A2 or higher.

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.

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

Level IV Status exists at any date if, at such date, (i) the Company's long-term debt is rated BBB or higher by S&P or Baa2 or higher by Moody's and (ii) none of Level I Status, Level II Status and Level III Status exists. "Level V Status" exists at any date if, at such date, (i) the Company's long-term debt is rated BBB- or higher by S&P or Baa3 or higher by Moody's and (ii) none of Level I Status, Level II Status, Level III Status or Level IV Status exists. "Level VI Status" exists at any date if, at such date, no other Status exists.

Level IV Status means, on any date, the circumstance that none of Level I Status, Level II Status or Level III Status exists and the Consolidated Total Debt to Consolidated EBITDA Ratio is greater than or equal to 4.50:1.00 as of such date.

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 Xxxxx'x 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.

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 Xxxxx’x Rating is Baa2 or better or the Borrower’s S&P Rating is BBB or better. “Level V Status” exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status and (ii) the Borrower’s Xxxxx’x Rating is Baa3 or better or the Borrower’s S&P Rating is BBB- or better. “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.