Level V definition

Level V the respective Level set forth below: S&P Moody’s Level I A- or higher A3 or higher Level II BBB+ Baa1 Level III BBB Baa2 Level IV BBB- Baa3 Level V BB+ or lower Ba1 or lower provided that if on any day the Applicable Xxxxx’x Rating and the Applicable S&P Rating do not coincide for any rating category and the Level differential is (x) one level, then the higher of the Applicable S&P Rating or the Applicable Xxxxx’x Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the highest of the intermediate Levels will be the applicable Level; provided further that if on any day, neither the Applicable Xxxxx’x Rating nor the Applicable S&P Rating is available, the applicable Level shall be Level V.

Level V the respective Level set forth below: S&P Rating Xxxxx’x Rating Level I A- or higher A3 or higher Level II BBB+ Baa1 Level III BBB Baa2 Level IV BBB- Baa3 Level V BB+ or below Ba1 or below provided that if on any day the Ratings of the Rating Agencies do not coincide for any rating category and the Level differential is (x) one level, then the higher Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the higher of the intermediate Level will be the applicable Level.

Level V has the meaning specified in Section 2.09(a)(ii).

Examples of Level V in a sentence

• Severity Level V: Violations are of minor safety or environmental concern.

• ICES.—The Director may procure temporary and intermittent serv- ices under section 3109(b) of title 5, United States Code, at rates for individuals which do not exceed the daily equivalent of the annual rate of basic pay prescribed for Level V of the Executive Schedule under section 5316 of such title.

• Level V facilities comprise the highest security level and are capable of incarcerating all classification levels.

• Any person arrested on a charge of escape from any Correctional facility, including both Level V and Level IV facilities, should be returned by the court to a Level V secured facility pending such hearings as may ensue from the charge.

• For example, if a given sentence is 2 years at Level V suspended for 2 years at Level II, the Level II sentence is the portion which will actually be served and, therefore, the portion which will be considered as conforming (or not conforming) to the standard.

More Definitions of Level V

Level V shall exist at any time (a) the Applicable Credit Rating of S&P is equal to or greater than BBB or the Applicable Credit Rating of Xxxxx'x is equal to or greater than Baa2 and (b) Levels I, II, III and IV do not exist.

Level V shall exist at any time the Leverage Ratio is equal to or less than 2.00:1.0.

Level V shall exist at any time the Total Leverage Ratio is greater than or equal to 4.50:1.0.

Level V means that neither Level I, Level II, Level III nor Level IV shall apply, and the Credit Ratings are better than or equal to at least two (2) of the following three (3): (i) BBB by S&P, (ii) Baa2 by Xxxxx’x and (iii) BBB by Fitch; and

Level V any of the following long-term senior unsecured debt ratings: BB+ or lower (or unrated) by S&P, Ba1 or lower (or unrated) by Moody's, BB+ or lower (or unrated) by D&P or BB+ or lower (or unrated) by Fitch.

Level V shall exist at any time the Total Leverage Ratio is less than 1.00:1.0.

Level V shall exist at any time, (i) Levels I, II, III and IV do not apply and (ii) the S&P Rating is BB+ or the Xxxxx’x Rating is Ba1.