Level V definition

Level V the respective Level set forth below: S&P Moody’s Level I A- or higher A3 or higher Level II BBB+ Baa1 Level III BBB Baa2 Level IV BBB- Baa3 Level V BB+ or lower Ba1 or lower provided that if on any day the Applicable Xxxxx’x Rating and the Applicable S&P Rating do not coincide for any rating category and the Level differential is (x) one level, then the higher of the Applicable S&P Rating or the Applicable Xxxxx’x Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the highest of the intermediate Levels will be the applicable Level; provided further that if on any day, neither the Applicable Xxxxx’x Rating nor the Applicable S&P Rating is available, the applicable Level shall be Level V.
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Level V the respective Level set forth below: S&P Rating Xxxxx’x Rating Level I A- or higher A3 or higher Level II BBB+ Baa1 Level III BBB Baa2 Level IV BBB- Baa3 Level V BB+ or below Ba1 or below provided that if on any day the Ratings of the Rating Agencies do not coincide for any rating category and the Level differential is (x) one level, then the higher Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the higher of the intermediate Level will be the applicable Level.
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Level V shall exist at any time (a) the Applicable Credit Rating of S&P is equal to or greater than BBB or the Applicable Credit Rating of Xxxxx'x is equal to or greater than Baa2 and (b) Levels I, II, III and IV do not exist.
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Examples of Level V in a sentence

  • In the event the grievant is not satisfied with the decision at Level V, he may, but only with the concurrence and participation of Association, within five (5) days, give written notice to the Chancellor requesting a "Fact-finding Panel" be formed.

  • Level V ❖ Licensed teachers who have earned thirty (30) credits in an educationally related area beyond the Master’s Degree.

  • If the grievant is not satisfied with the decision at Level V, the Association may within ten (10) days submit a notice, in writing, to the Superintendent for binding arbitration of the dispute.

  • The procedures for Level IV and Level V grievance reviews shall apply to such Union grievances.

  • Representation of the employee at Level V shall be by an Association designated representative.


More Definitions of Level V

Level V has the meaning specified in Section 2.09(a)(ii).
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Level V shall exist at any time the Leverage Ratio is equal to or less than 2.00:1.0.
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Level V means that neither Level I, Level II, Level III nor Level IV shall apply, and the Credit Ratings are better than or equal to at least two (2) of the following three (3): (i) BBB by S&P, (ii) Baa2 by Xxxxx’x and (iii) BBB by Fitch; and
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Level V shall exist at any time the Total Leverage Ratio is greater than or equal to 4.50:1.0.
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Level V any of the following long-term senior unsecured debt ratings: BB+ or lower (or unrated) by S&P, Ba1 or lower (or unrated) by Moody's, BB+ or lower (or unrated) by D&P or BB+ or lower (or unrated) by Fitch.
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Level V shall exist at any time the Total Leverage Ratio is less than 1.00:1.0.
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Level V shall exist at any time, (i) Levels I, II, III and IV do not apply and (ii) the S&P Rating is BB+ or the Xxxxx’x Rating is Ba1.
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