Level II Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status and (ii) the Borrower's Xxxxx'x Rating is Baa1 or better or the Borrower's S&P Rating is BBB+ or better.
Level II Status exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, (i) the Borrower has not qualified for Level I Status and (ii) the Leverage Ratio is less than 1.50 to 1.00. “Level III Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, (i) the Borrower has not qualified for Level I Status or Level II Status and (ii) the Leverage Ratio is less than 2.00 to 1.00.
Level II Status means, on any date, the circumstance that Level I Status does not exist and the Consolidated Total Debt to Consolidated EBITDA Ratio is greater than or equal to 4.50 to 1.00 as of such date.
Examples of Level II Status in a sentence
The superintendent of schools, in counsel with the principal and local school board, shall recommend return to Level II Status or non-renewal of contract.
If this is not possible, it may be referred upwards through those responsible for operating this Memorandum, up to and including both organisations’ Chief Executives, who will jointly be responsible for ensuring a mutually satisfactory resolution.
Th e granti ng of Level II Status indicates an intent on the part of the employer of continued employment within a conf erence or aca demy.
Parties in the United States and Canada can call 1-877-941-2332 to access the conference call.
Office-based provider visits known to have occurred after December 31, 2008 are not included on this file.
More Definitions of Level II Status
Level II Status exists at any date if, at such date, (i) the Borrower's senior unsecured long-term debt is rated at least BBB+ by S&P or Baa1 by Moody's and (ii) Level I Status does not exist.
Level II Status means Level I Status does not exist, but, subject to the provisions of Schedule 1, the Borrower’s S&P Rating is AA- or higher and its Xxxxx’x Rating is Aa3 or higher.
Level II Status means, on any date, the circumstance that the Consolidated Senior Secured Debt to Consolidated EBITDA Ratio is less than or equal to 3.00 to 1.00 as of such date.
Level II Status exists at any date if, at such date, (i) the Company’s senior unsecured long-term debt is rated A- or higher by S&P or A3 or higher by Moody’s and (ii) Level I Status does not exist. “Level III Status” exists at any date if, at such date, (i) the Company’s senior unsecured long-term debt is rated BBB+ or higher by S&P or Baa1 or higher by Moody’s and (ii) neither Level I Status nor Level II Status exists.
Level II Status exists at any date if, at such date, the Leverage Ratio is greater than or equal to 4.00 to 1.00 but less than 5.00 to 1.00;
Level II Status exists at any date after the Separation if, at such date, (i) the Borrower's outstanding senior unsecured long-term debt securities are rated A or higher by S&P or A2 or higher by Moody's and (ii) Level I Status does not exist.
Level II Status exists at any date if, as of the last day of the fiscal quarter referred to in the most recent Financials, (i) the Company has not qualified for Level I Status and (ii) the Leverage Ratio is less than or equal to 1.50 to 1.00.