Pricing Level III definition

Pricing Level III shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00.
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Pricing Level III any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB+ or higher or (y) ▇▇▇▇▇’▇ is Baa1 or higher and (ii) neither Pricing Level I nor Pricing Level II applies.
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Pricing Level III 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 Baa2 or higher by Moody’s and (iii) Pricing Levels I and II do not apply.
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Examples of Pricing Level III in a sentence

  • In the event that, on any day, Best shall not have in effect a Best Rating, the Pricing Level shall be Pricing Level III.

  • The Applicable Percentage in effect from the Closing Date through the date of delivery of the Compliance Certificate for the fiscal quarter ending December 31, 2011 shall be determined based on Pricing Level III.

  • Applicable Pricing Level III shall be eliminated beginning January 1, 2002.

  • The Borrower and the Lenders acknowledge and agree that the percentages set forth below opposite Pricing Level III shall apply until the Administrative Agent receives a Compliance Certificate for the Fiscal Quarter ending March 31, 2009.

  • Pricing Level III shall apply commencing on the Effective Date until adjusted pursuant to the immediately preceding paragraph.


More Definitions of Pricing Level III

Pricing Level III means at any time the Borrower’s Senior Debt Rating is (a) A- or higher by S&P or (b) A3 or higher by Moody’s, and Pricing Levels I and II are not applicable.
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Pricing Level III the Pricing Level which would be applicable for so long as the Senior Debt Rating is equal to BBB- by S&P or Baa3 by ▇▇▇▇▇’▇ and Pricing Levels I and II are not applicable; and
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Pricing Level III any time when the Leverage Ratio is greater than 2.00:1.00 but less than or equal to 2.50:1.00.
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Pricing Level III means the applicable Pricing Level at any time when the Leverage Ratio is less than or equal to 1.00:1.00.
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Pricing Level III shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is less than or equal to 1.50 to 1.00 and shall apply to the Revolving Loans and Swingline Loans.
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Pricing Level III shall exist on an Adjustment Date if the Debt to Cash Flow Ratio for the relevant period is less than or equal to 3.25 to 1.00 but greater than 2.50 to 1.00.
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Pricing Level III means at any time the Borrower’s Senior Debt Rating is (a) BBB+ or higher by S&P or (b) Baa1 or higher by Moody’s, and Pricing Levels I and II are not applicable.
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