Pricing Level 2 definition

Pricing Level 2 as set forth above, the Applicable Margin shall be the rate per annum applicable toPricing Level 1” in the table above. A change (if any) in the Applicable Margin shall be effective immediately upon notice from the Borrower to the Administrative Agent of the announcement by any of the rating agencies of a change in a Credit Rating or the date on which the Term Facility no longer has a Credit Rating from one of the rating agencies or the date on which the Term Facility has a Credit Rating from a rating agency that had not provided a Credit Rating for the Term Facility on the day immediately preceding such date, whichever is applicable; provided that if notification is provided to the Borrower that the Administrative Agent or the Required Lenders have so elected, with respect to the Tranche B Term Loans, “Pricing Level 1” shall apply as of the first Business Day after an Event of Default under Section 8.01(3) shall have occurred and be continuing, and shall continue to so apply to but excluding the date on which such Event of Default is cured or waived (and thereafter the pricing level otherwise determined in accordance with this definition shall apply); provided further that if the Borrower fails to provide notice to the Administrative Agent of a change in the Credit Rating from any rating agency (including a new Credit Rating or the discontinuance of a Credit Rating of the Term Facility), then upon notice from the Administrative Agent to the Borrower or from the Required Lenders to the Borrower and the Administrative Agent, the relevant change to the Applicable Margin that should have occurred as a result thereof shall be enacted with retroactive effect as if the Borrower had provided notice as provided above of such change; (b) The definition of “Class” set forth in Section 1.01 of the Credit Agreement is hereby amended by adding the following sentence at the end thereof: As of the Second Refinancing Amendment Effective Date, after giving effect to the Second Refinancing Amendment and the funding of Term Loans thereunder,
Pricing Level 2 means the Pricing Level which would be applicable for so long as the higher of the Credit Ratings of Borrower is equal to BBB by S&P or Baa2 by Xxxxx'x.
Pricing Level 2 means the Pricing Level which would be applicable for so long as (a) Parkway Properties does not have a Credit Rating from both S&P and Moody's or has a Below Grade Rating and did not previously have an Investment Grade Rating which was subsequently reduced to a Below Grade Rating, (b) the Leverage Ratio is greater than 40% but less than 50%, and (c) Pricing Xxxxx 0 is not applicable.

Examples of Pricing Level 2 in a sentence

  • Notwithstanding anything to the contrary herein, (x) until the date on which the Administrative Agent receives financial statements for the fiscal quarter of the Borrower ending on June 30, 2018, Pricing Level 2 set forth above shall apply and (y) in the event the Borrower fails to deliver to the Administrative Agent financial statements pursuant to Sections 6.01(a) or (b), as applicable, Pricing Level 4 set forth above shall apply until the date such financial statements have been delivered.

  • Test 2A: Pricing Level 2 (average $0.08 per mile)Same approach and caveats as Test 2.Test 2A Results: Approximately 4.7% additional SB375 GHG emissions reductions; significant decrease in congestion and increase in transit and non-motorized travel.

  • Pricing Level 2 - Valuations based upon quoted prices for similar assets in active markets, quoted prices for identical or similar assets in inactive markets; or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities) or can be corroborated by observable market data.

  • The Applicable Rate in effect from the Closing Date through the first Business Day on which the first Compliance Certificate is required to be delivered pursuant to Section 6.02(b) hereof shall be determined based upon Pricing Level 2.

  • The Applicable Rate in effect from the Closing Date through the earlier of (a) March 31, 2003 or (b) that date on which the Compliance Certificate related to CEC Entertainment's fiscal year 2002 financial statements is delivered by Borrower to Administrative Agent, shall be determined based upon Pricing Level 2.


More Definitions of Pricing Level 2

Pricing Level 2 means the Pricing Level that applies to each Advance (whether then outstanding or thereafter made) on and after, to each Letter of Credit (whether then outstanding or thereafter issued) on and after, and to each Commitment on and after, the date of receipt by the Administrative Agent of a schedule of computations referred to in Section 6.4(a) or (b) if the ratio of (a) the difference between Consolidated Funded Debt and the aggregate amount, if any, of cash and Cash Equivalents held by FTO and its Subsidiaries in excess of the sum of the smallest aggregate amounts of cash and Cash Equivalents needed to be held by FTO in order for FTO to comply with the covenants contained in Sections 7.11, 7.13 and 7.14, all as determined on the last day of the fiscal quarter of FTO ended immediately before that date, to (b) Consolidated EBITDA for the Calculation Period ended on the last day of that fiscal quarter was equal to or greater than 2.0:1.0 but less than 2.5:1.0, as demonstrated by that schedule.
Pricing Level 2 means the Pricing Level that applies to each Advance (whether then outstanding or thereafter made) on and after, to each Letter of Credit (whether then outstanding or thereafter issued) on and after, and to each Commitment on and after, the date of receipt by the Administrative Agent of a schedule of computations referred to in Section 6.4(a) or (b) if the ratio of (a) the difference between Consolidated Long-Term Debt and the aggregate amount, if any, of Cash Equivalents held by FOC and its Subsidiaries in excess of the sum of the smallest aggregate amount of Cash Equivalents needed to be held by FOC in order for FOC to comply with the covenant contained in Section 7.10, all as determined on the last day of the fiscal quarter of FOC ended immediately before that date, to (b) Consolidated EBITDA for the Calculation Period ended on the last day of that fiscal quarter was equal to or greater than 2.25:1.00 but less than 3.00:1.00, as demonstrated by that schedule; provided, however, that (i) if the information in any such schedule is incorrect and results in the payment of lower interest or fees than should have been paid based on the correct information, then the Borrower shall nevertheless be liable to the Lenders and the Administrative Agent for the correct amounts of interest and fees and will pay any unpaid portion of the same to the Administrative Agent for the benefit of the Person(s) entitled thereto, promptly upon demand therefor, and (ii) if FOC fails to deliver any such schedule by the required day, then Pricing Level 3 shall apply until FOC delivers such schedule and the appropriate Pricing Level can be determined.
Pricing Level 2 is at the time applicable, setting forth a calculation of the Senior Secured Net Leverage Ratio as of the end of the most recent Test Period.
Pricing Level 2 means the Pricing Level which would be applicable for so long as the Collateral Pool Leverage Ratio is greater than 55%.
Pricing Level 2 means the Pricing Level that applies to each Advance (whether then outstanding or thereafter made) on and after, to each Letter of Credit (whether then outstanding or thereafter issued) on and after, and to each Commitment on and after, the date of receipt by the Administrative Agent of a schedule of computations referred to in Section 6.4(a) or (b) if the ratio of (a) the difference between Consolidated Long-Term Debt and the aggregate amount, if any, of Cash Equivalents held by FOC and its Subsidiaries in excess of the sum of the smallest aggregate amount of Cash Equivalents needed to be held by FOC and its Subsidiaries in order for FOC to comply with the covenant contained in Section 7.10, all as determined on the last day of the fiscal quarter of FOC ended immediately before that date, to (b) Consolidated EBITDA for the Calculation Period ended on the last day of that fiscal quarter was equal to or greater than 2.25:1.00 but less than 3.00:1.00, as demonstrated by that schedule; provided, however, that (i) if the information in any such schedule is incorrect and results in the payment of lower interest or fees than should have been paid based on the correct information, then the Borrower shall nevertheless be liable to the Lenders and the Administrative Agent for the correct amounts of interest and fees and will pay any unpaid portion of the same to the Administrative Agent for the benefit of the Person(s) entitled thereto, promptly upon demand therefor, and (ii) if FOC fails to deliver any such schedule by the required day, then Pricing Level 3 shall apply until FOC delivers such schedule and the appropriate Pricing Level can be determined.”
Pricing Level 2 means the Pricing Level that applies to each Eurodollar Rate Advance, Letter of Credit and unused Commitment from and after the fifth Business Day after the date of receipt by the Lender that is also the Administrative Agent of a Compliance Certificate pursuant to Section 5.1(a)(v) if the Funded Debt Ratio as of the end of the fiscal quarter ended immediately before that date was greater than 0.485 but less than or equal to 0.735, as demonstrated by that schedule.
Pricing Level 2 means the Pricing Level that applies to each Advance (whether then outstanding or thereafter made) on and after, to each Letter of Credit (whether then outstanding or thereafter issued) on and after, and to each Commitment on and after, the date of receipt by UBOC of a schedule of computations referred to in Section 7(j)(i) or (ii) of the Clawback Agreement if the ratio of (a) the difference between FOC Funded Debt and Investible Cash as of the end of the fiscal quarter ended immediately before that date to (b) FOC EBITDA for the Calculation Period ended on the last day of that fiscal quarter was equal to or greater than 2.0:1.0 but less than 2.5:1.0, as demonstrated by that schedule.