Level VI definition

Level VI shall exist at any time the Applicable Credit Rating of S&P is BBB- and the Applicable Credit Rating of ▇▇▇▇▇'▇ is Baa3.

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Level VI shall exist at any time the Leverage Ratio is greater than or equal to 4.00:1.

Level VI the respective Level set forth below, as determined by the Ratings then in effect: Level I A or higher A2 or higher Level II A- A3 Level III BBB+ Baa1 Level IV BBB Baa2 Level V BBB- Baa3 Level VI 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/highest of the intermediate Levels will be the applicable Level.

Examples of Level VI in a sentence

If the mediation does not successfully resolve the dispute, the Association may, within ten (10) days of the termination of mediation, as determined by the mediator, submit the matter to Level VI, Binding Arbitration.
If the Borrower fails to deliver the financials to the Administrative Agent at the time required hereunder or any other Event of Default exists, then the Applicable Rate shall be set at Level VI until such financials are so delivered.
If the Borrower has no Fitch Rating, no ▇▇▇▇▇’▇ Rating and no S&P Rating, Pricing Level VI shall apply.
In a case of multiple grievance claims on the same issue, the District may elect to hear only the first written grievance filed, and when the Level VI decision is rendered, it shall be applicable to all claims on the same issue, arising from the same set of circumstances.
Level VI – Clinical Expert – Level IV requirements plus:  MSN obtained  Primary investigator or co-investigator on nursing research study  Submission of at least one (1) quality or research abstract or article to an external professional nursing venue $4,000 FT $2,000 PT/Per Diem with 1,000 hours or greater.

More Definitions of Level VI

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

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

Level VI applies on any day on which (i) the S&P Reference Rating for such Borrower is BB+ or lower and the ▇▇▇▇▇'▇ Reference Rating for such Borrower is Ba1 or lower and (ii) none of Levels I, II, III, IV or V applies. In the event that the Reference Ratings do not correspond to the same Applicable Rating Level, then, (i) if the higher of such Reference Ratings corresponds to Levels I, II, III or V and (A) the Reference Ratings differ by only one rating level, the Applicable Rating Level that corresponds to the higher of such Reference Ratings shall apply, and (B) the Reference Ratings differ by more than one rating level, the Applicable Rating Level that is one level below the Applicable Rating Level that corresponds to the higher of such Reference Ratings shall apply, and (ii) if the Reference Ratings differ by more than one rating level and the lower of such Reference Ratings corresponds to Level VI, the Applicable Rating Level that corresponds to the lower of such Reference Ratings shall apply. The Applicable Rating Level shall be redetermined as and when any change in the ratings used in the determination thereof shall be announced by S&P or ▇▇▇▇▇'▇, as the case may be.

Level VI. 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 or Level V Status on such date.

Level VI shall exist at any time none of the other Levels applies.

Level VI applies at any date, if at such date, no other Pricing Level applies.

Level VI shall have the meaning specified in SUBDIVISION 2(e)(4).