Rating Level 2 definition

Rating Level 2 means that Rating Level 1 does not apply and the Debt Rating is A3 by Moody’s or A- by S&P.

Rating Level 2 means a rating of the Rated Securities equal -------------- to A3 by Moody's or A- by S&P.

Rating Level 2 means a period that is not a Rating Level 1 during which the Xxxxx’x Rating is at or above A1 or the Standard & Poor’s Rating is at or above A+;

Examples of Rating Level 2 in a sentence

• During any Rating Level 2 Period, the Servicer shall deliver to each Managing Agent and the Seller, no later than 11:00 a.m., New York City time, on the second Business Day of each calendar week, a Weekly Report containing the information listed in Annex A-2 with respect to the immediately preceding calendar week, and such other information as the Administrative Agent or any Managing Agent may reasonably request.

• Definition of Pay Scales Initial 4 Instructor Rating Level 2 Class 3 Instructor Rating Level.

• This project has been assigned a Rating Level 2 on the Risk/Severity Matrix; however, the legislature required that this project be closely followed and documented in the Agency IT Portfolio.

• Tanker Vessels should be less than fifteen (15) years old but tankers up to, and including, twenty (20) years of age may be acceptable provided they have been assessed under CAP at Rating Level 2 or better for both CAP Hull and CAP MC.

• Corporate Ratings (S&P, Xxxxx’x and Fitch) 90 days after the Initial Closing Date 180 days after the Initial Closing Date 270 days after the Initial Closing Date Rating Level 1: at least BBB- and Baa3 and BBB- 0.50 % 0.75 % 1.00 % Rating Level 2: less than BBB- or Baa3 or BBB- 0.75 % 1.00 % 1.50 % In the event of split Rating Levels, the Duration Fees will be based upon the Rating Level in effect for two of the rating agencies.

More Definitions of Rating Level 2

Rating Level 2 means (a) no Specified Event of Default has occurred and is continuing, (b) the Xxxxx'x Rating is A2 or the S&P Rating is A and (c) Rating Level 1 is not in effect.

Rating Level 2 means (a) the Standard & Poor's Rating is below BB- (or any successor rating) or (b) the Moodx'x Xxxing is below Ba3 (or any successor rating).

Rating Level 2 means (a) so long as no Debt Rating from S&P or Moodx'x xx obtained by the Company, then a Debt Rating of BBB+ from Fitch, (b) in the event that a Debt Rating is obtained from either S&P or Moody's, then either, a Debt Rating of BBB or higher from S&P or Baa2 or higher from Moody's and (c) in the event that a Debt Rating is obtained from S&P and Moody's, then either (i) a Debt Rating of Baa3 from Moody's and BBB (or higher) from S&P or (ii) a Debt Rating of BBB- from S&P and Baa2 (or higher) from Moodx'x.

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 2 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 BB- or better or (b) most recently published by Xxxxx'x is Ba3 or better, but is not Rating Level 1.

Rating Level 2 means any time when Rating Level 1 is not in effect.

Rating Level 2 means (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.