Pricing Level VI definition

Pricing Level VI any time when none of Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV or Pricing Level V applies. Notwithstanding each definition of Pricing Level set forth above, if at any time the senior unsecured long term debt ratings of the Borrower by S&P and Moody’s differ by more than one equivalent rating level, then the applicable Pricing Level shall be determined based upon the lower such rating adjusted upwards to the next higher rating level.
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Pricing Level VI means at any time the Borrower’s Senior Debt Rating is (a) less than or equal to BBB- by S&P or (b) less than or equal to Baa3 by Moody’s, and Pricing Levels I, II, III, IV and V are not applicable.
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Pricing Level VI means any time when none of Pricing Levels I, II, III, IV and V is applicable.
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Examples of Pricing Level VI in a sentence

  • If the Borrower has no Fitch Rating, no Xxxxx’x Rating and no S&P Rating, Pricing Level VI shall apply.

  • Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV, Pricing Level V or Pricing Level VI, as the case may be.

  • In the event that Debt Ratings are not obtained, the pricing will be determined based on Pricing Level VI.

  • If the Borrower has not delivered its financial statements by the date such financial statements (and, in the case of the year-end financial statements, audit report) are required to be delivered under Section 5.1 hereof, until such financial statements and audit report are delivered, Pricing Level VI shall apply.

  • Pricing Level I, Pricing Level II, Pricing Level III, Pricing Level IV, Pricing Level V, Pricing Level VI or Pricing Level VII, as the case may be.


More Definitions of Pricing Level VI

Pricing Level VI any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB or higher or (y) Xxxxx’x is Baa2 or higher and (ii) none of Pricing Level I, II, III, IV or V applies.
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Pricing Level VI any time when the Leverage Ratio is greater than 1.00:1.00 but less than or equal to 1.50:1.00.
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Pricing Level VI shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is greater than 1.50 to 1.00 and shall apply to the Commitment Fee Rate.
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Pricing Level VI 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 Moodx'x xxx Pricing Levels I, II, III, IV and V are not applicable; and
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Pricing Level VI means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BB+ or higher by S&P or Ba1 or higher by Moody's and (iii) Pricing Levels I, II, III, IV, and V do not apply.
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Pricing Level VI means the Pricing Level that will be in effect for the applicable Pricing Period if, as of the relevant Date of Determination, the Borrowers' Indebtedness as measured on such Date of Determination, to the Borrowers' Cash Flow from Operations as measured on such Date of Determination, is equal to or greater than 3.50 to 1.00, but less than 4.00 to 1.00.
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Pricing Level VI means that either the S&P Rating or the Xxxxx'x Rating is B or B2, as applicable, or lower, or that no current S&P Rating or Xxxxx'x Rating exists.
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