Rating Level 1 definition

Rating Level 1 means that the Debt Rating is A1 or better by Moody's or A+ or better by S&P.

Rating Level 1 means a rating of the Rated Securities -------------- better than or equal to A2 by Moody's or better than or equal to A by S&P.

Rating Level 1 means a period during which the Xxxxx’x Rating is at or above Aa2 or the Standard & Poor’s Rating is at or above AA;

Examples of Rating Level 1 in a sentence

• For example, if only one of the Rating Agencies decreases its rating of the Notes to Rating Level 1 (and the rating provided by the other Rating Agency is above Rating Level 1), then the interest rate payable on the Notes will increase by 0.25%, and if each of the Rating Agencies decreases its rating of the Notes to Rating Xxxxx 0, then the Note Interest Rate will increase by 0.25% on account of each such rating provided by both Rating Agencies, or 0.50% in the aggregate.

• For example, if only one of the Rating Agencies decreases its rating of the Notes to Rating Level 1 (and the rating provided by the other Rating Agency is above Rating Level 1), then the interest rate payable on the Notes will increase by 0.25%, and if each of the Rating Agencies decreases its rating of the Notes to Rating Level 1, then the Note Interest Rate will increase by 0.25% on account of each such rating provided by both Rating Agencies, or 0.50% in the aggregate.

• One of the following five pricing levels, as applicable, and provided, that the initial Applicable Margin shall be at Credit Rating Level 3: Credit Rating Level 1.

• The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to A- by S&P or A3 by Xxxxx’x and Credit Rating Level 1 is not applicable; Credit Rating Level 3.

• US_ACTIVE:\44499436\10\64058.0192 Corporate Ratings (S&P, Xxxxx’x and Fitch) Commitment Fee Rate Rating Level 1: at least BBB- and Baa3 and BBB- 0.175% Rating Level 2: less than BBB- or Baa3 or BBB- 0.250% In the event of split Rating Levels, the Commitment Fee Rate will be based upon the Rating Level in effect for two of the rating agencies.

More Definitions of Rating Level 1

Rating Level 1 means (a) no Specified Event of Default has occurred and is continuing and (b) the Xxxxx'x Rating is greater than or equal to Al or the S&P Rating is greater than or equal to A+.

Rating Level 1 means the Obligations are rated (i) BB- or higher by Standard & Poor's Ratings Services and (ii) Ba3 or higher by Xxxxx'x Investor Service, Inc.

Rating Level 1 means (a) the Standard & Poor's Rating is at or above BBB- (or any successor rating) and (b) the Moodx'x Xxxing is at or above Baa3 (or any successor rating).

Rating Level 1 means (a) so long as no Debt Rating from S&P or Moodx'x xx obtained by the Company, then a Debt Rating of A- or higher from Fitch, and (b) in the event that a Debt Rating is obtained from S&P and Moody's, then a Debt Rating of BBB or higher from S&P and Baa2 or higher from Moodx'x.

Rating Level 1. Rating Level 2", "Rating Level 3", "Rating Xxxxx 0" and "Rating Level 5" have the meanings specified in clause (b) of the definition of "Applicable Margin" in this Section 1.01.

Rating Level 1 means, as at any date of determination -------------- thereof, that the rating of any long-term unsecured debt issues of the Originator (a) most recently published by S&P is BBB- or better or (b) most recently published by Xxxxx'x is Baa3 or better.

Rating Level 1 means, (a) no Default has occurred and is -------------- continuing and (b) the Xxxxx'x Rating is at Baa2 or higher (or a Substitute Rating is at the corresponding rating level or higher) or the S&P Rating is at BBB or higher (or a Substitute Rating is at the corresponding rating level or higher); "Rating Level 2" shall mean (a) no Default has occurred -------------- and is continuing, (b) the Xxxxx'x Rating is at Baa3 or higher (or a Substitute Rating is at the corresponding rating level or higher) or the S&P Rating is at BBB- or higher (or a Substitute Rating is at the corresponding rating level or higher) and (c) Rating Level 1 is not in effect; provided that (A) neither Rating Level 1 nor Rating Level 2 shall -------- exist at any time before (i) the consummation of the Acquisition or (ii) the date on which both Moody's and S&P shall have first either reaffirmed or announced revised ratings for the Company Senior Long-Term Debt, and (B) for purposes of both Rating Xxxxx 0 and Rating Xxxxx 0, in the event that the rating levels are split, the higher of the two rating levels shall apply.