Pricing Level II definition

Pricing Level II shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00.

Pricing Level II means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB+ or higher by S&P or Baa1 or higher by Moody’s and (iii) Pricing Level I does not apply.

Pricing Level II any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is A‑ or higher or (y) Xxxxx’x is A3 or higher and (ii) Pricing Level I does not apply.

Examples of Pricing Level II in a sentence

• The Applicable Percentage from Closing Date shall be based on Pricing Level II, subject to adjustment as provided herein.

• The Applicable Percentage from the Closing Date shall be based on Pricing Level II, subject to adjustment as provided herein.

• The Letter of Credit Fee in effect from the Closing Date through September 30, 2006 shall be Pricing Level II.

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• Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V ³ BBB+/ Baa1/BBB+ BBB/ Xxx0/XXX XXX-/ Xxx0/XXX- XX+/ Xx0/XX+ £BB/ Ba2/BB 3-Year Tranche 0.125% 0.150% 0.200% 0.250% 0.350% 5-Year Tranche 0.150% 0.200% 0.250% 0.300% 0.400% The foregoing pricing shall be based on the Public Debt Ratings.

More Definitions of Pricing Level II

Pricing Level II the Pricing Level which would be applicable for so long as the Senior Debt Rating is equal to BBB by S&P or Baa2 by Xxxxx’x and Pricing Level I is not applicable;

Pricing Level II means at any time the Borrower’s Senior Debt Rating is (a) A or higher by S&P or (b) A2 or higher by Xxxxx’x, and Pricing Level I is not applicable.

Pricing Level II means the applicable Pricing Level at any time when the Leverage Ratio is greater than 1.00:1.00 but less than or equal to 1.50:1.00.

Pricing Level II means at any time the Borrower’s Senior Debt Rating is (a) A or higher by S&P or (b) A2 or higher by Moody’s, and Pricing Level I is not applicable.

Pricing Level II any time when the Leverage Ratio is greater than 1.50:1.00 but less than or equal to 2.00:1.00.

Pricing Level II means the Pricing Level that will be in effect for the applicable Pricing Period if, as at the relevant Date of Determination, the ratio of the Borrower's Adjusted Funded Debt as measured on such Date of Determination, to the Borrower's EBITDA as measured on such Date of Determination, is greater than 1.00 to 1.00 but is less than or equal to 1.50 to 1.00.

Pricing Level II shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is less than or equal to 2.00 to 1.00 but greater than 1.50 to 1.00 and shall apply to the Revolving Loans and Swingline Loans.