Level III Rating definition

Level III Rating as of any date, such Level shall apply if the Company’s assigned Credit Rating as of such date is A2 by Moody’s, A by S&P and A by Fitch.

Level III Rating means, for the applicable rating agency: the Borrower’s Xxxxx’x Rating is Baa2 or better; Borrower’s S&P Rating is BBB or better.

Level III Rating means at any time at which the Company does not have either a Level I Rating or a Level II Rating, either

Examples of Level III Rating in a sentence

• The term ‘‘reported case of burn pit ex- posure’’ means each instance in which a vet- eran presents at a medical facility of the De- partment of Veterans Affairs (or in a non-De- partment facility pursuant to section 1703 or 1703A of title 38, United States Code) for treatment that the veteran describes as being related to, or ancillary to, the expo- sure of the veteran to toxic airborne chemi- cals and fumes caused by open burn pits at any time while serving in the Armed Forces.

• The Company shall pay to the Agent for ------------ the account of the Banks ratably a facility fee at the rate of (i) for any day on which the Company has a Level I Rating, .035 of 1% per annum, (ii) for any day on which the Company has a Level II Rating, .050 of 1% per annum, (iii) for any day on which the Company has a Level III Rating, .070 of 1% per annum and (iv) for any day on which the Company has a Level IV Rating, .100 of 1% per annum.

• SCHEDULE I FACILITY FEE AND APPLICABLE MARGIN Rating Level Level I Rating Level Level II Rating Level Level III Rating Level Level IV Rating Level Level V *RATING LEVELS If the Borrower’s senior unsecured long-term debt is rated A+ or higher by S&P or A1 or higher by Xxxxx’x.

More Definitions of Level III Rating

Level III Rating means, for the applicable rating agency: the Borrower’s Moody’s Rating is Baa2 or better; the Borrower’s Fitch Rating is BBB or better; Borrower’s S&P Rating is BBB or better.

Level III Rating means the rating established by each Rating Agency as being one rating level immediately below the Level IV Rating, it being understood that as of the date of this Agreement the "Level III Rating" of S&P is BB+ and the "Level III Rating" of Xxxxx'x is Ba1.

Level III Rating means, with respect to any Borrower, (i) if S&P and/or Moody's has assigned a rating to the senior unsecured long-term debt of such Borrower, then a rating of at least A+ from S&P or at least A1 from Moody's, or (ii) if neither S&P nor Moody's has assigned a rating to the senior unsecured long-term debt of such Borrower, then public commercial paper ratings of A-2 from S&P or P-2 from Moody's.

Level III Rating means, on any date, Borrower has not qualified for Level I Status or Level II Status.

Level III Rating means, with respect to the rating of short-term unsecured debt securities by S&P and/or Xxxxx'x, at least Al in the case of S&P or P1 in the case of Xxxxx'x.

Level III Rating means a senior unsecured long-term debt rating of at least AA- from S&P, or an Equivalent Rating.

Level III Rating means, with respect to any Borrower, (a) with respect to the 364-Day Revolver, a senior unsecured long-term debt rating of at least A+ from S&P or at least A1 from Moody's, and (b) with respect to the Multi-Year Revolver, (i) xx X&X and/or Moody's has assigned a rating to the senior unsecured long-terx xxxx of such Borrower, then a rating of at least A+ from S&P or at least A1 from Moody's, or (ii) if neither S&P nor Moody's has assigned a ratxxx xx the senior unsecured long-terx xxxx of such Borrower, then public commercial paper ratings of A-2 from S&P or P-2 from Moody's."