Rating Level I definition

Rating Level I means a period during which the long-term senior unsecured debt rating of Borrower is equal to or better than (i) A- by S&P, or (ii) A3 by Moody’s.
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Rating Level I has the meaning assigned to that term in Section 1.08.
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Rating Level I means an Applicable Rate Rating of BBB+ or higher by S&P or Baa1 or higher by Moody's.
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Examples of Rating Level I in a sentence

  • The rate per annum of such commitment fee for each calendar quarter shall be determined as provided in Schedule 1.01(b) based on the Rating Level in effect on the first day of such quarter, and for the calendar quarter ending September 30, 1999 shall be determined using Rating Level I set forth on Schedule 1.01(b).

  • If Borrower is split-rated and the ratings differential is one level, the higher of the two ratings will apply (e.g., A+/A2 results in a Rating Level I and BBB+/A3 results in a Rating Level III).

  • Borrower shall pay to the Administrative Agent, for the account of the Banks ratably in proportion to their Commitments, a facility fee on the daily average aggregate amount of the Commitments (including both the portion thereof that is used and the portion thereof that is unused), at the rate of (i) 0.045% per annum during each Rating Level I, (ii) 0.055% per annum during each Rating Level II and (iii) 0.075% per annum during each Rating Level III.


More Definitions of Rating Level I

Rating Level I means a period during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) A+ by S&P, or
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Rating Level I exists on any date if, on such date, the Company’s senior unsecured debt is rated A or higher by S&P and A2 or higher by Moody’s; or is rated at this level by one of the rating agencies and no lower than A- or A3 by the other rating agency.
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Rating Level I. If the Borrower's senior, secured long-term bank debt is rated equal to or greater than BB+ by S&P or Ba1 by ▇▇▇▇▇'▇;
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Rating Level I means a Debt Rating of at least BBB+ by S&P or Baa1 by M▇▇▇▇'▇.
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Rating Level I. If the Borrower's "senior debt" is rated equal to or greater than BBB by S&P or Baa2 by ▇▇▇▇▇'▇****;
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Related to Rating Level I

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

  • Pricing Level IV 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 Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.

  • Pricing Level III shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.75 to 1.00 but greater than or equal to 3.25 to 1.00.

  • 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 V 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 Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.