Level V Pricing definition
Level V Pricing applies on any day if no other Pricing Level applies on such day.
Level V Pricing applies on any day on which (i) the Borrower’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 Pricing, Level II Pricing, Level III Pricing or Level IV Pricing applies.
Level V Pricing applies at any date if, at such date, no other Pricing Level applies.
Examples of Level V 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.
Level I Pricing is the lowest Pricing Level and Level V Pricing is the highest Pricing Level.
PRICING LEVEL refers to the determination of which of Leve▇ ▇, ▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇ ▇▇ Level V Pricing applies for any day; provided, however, that until there is a Satisfactory Resolution of the Longhorn Partners Pipeline Litigation, the minimum Pricing Level will be Level IV.
More Definitions of Level V Pricing
Level V Pricing means the pricing during any period during which (i) the Company's long-term senior unsecured debt is rated A- or higher by S&P or A3 or higher by Moody's and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and Level IV Pricing applies.
Level V Pricing applies during any Rate Period if no higher Pricing Level applies and, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was equal to or greater than 3.00 to 1.
Level V Pricing applies on any day on which (i) the Company's long-term debt is rated BBB- or higher by S&P and Baa3 or higher by Moody's and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and Level IV Pricing applies.
Level V Pricing applies, subject to clauses (a), (b) and (c) of the definition of Pricing Level, (a) from the Adjustment Date (i) following a fiscal quarter for which [_____________] until (b) the next subsequent Adjustment Date on which another Pricing Level becomes applicable.
Level V Pricing applies if the Debt Rating at the most recent Performance Pricing Determination Date was equal to BBB- or Baa3.
Level V Pricing applies on any day if on such day no lower Pricing Level applies and the Company’s unsecured long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moody’s.
Level V Pricing applies at any date if, at such date, (i) Whirlpool’s senior unsecured long-term debt is rated BB+ or higher by S&P or Ba1 or higher by Moody’s and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing or Level IV Pricing applies.