Ratings Level definition

Ratings Level has the meaning set forth in the definition of “Applicable Percentage”.

Ratings Level has the meaning assigned to such term in the definition of “Applicable Margin”.

Ratings Level means, at any time, the “Ratings Level” set forth in the table below corresponding to the “Qualification Requirements” set forth in the table below. Qualification Requirements Ratings Level The senior unsecured long-term debt ratings of Cardinal are (i) at BBB- or higher (as determined by S&P) and (ii) at Baa3 or higher (as determined by Moody’s) Ratings Level 1 Cardinal does not qualify for Ratings Level 1 and the senior unsecured long-term debt ratings of Cardinal are (i) at BB+ or higher (as determined by S&P) and (ii) at Ba1 or higher (as determined by Moody’s) Ratings Level 2 Cardinal does not qualify for Ratings Xxxxx 0 or Ratings Level 2 and the senior unsecured long-term debt ratings of Cardinal are (i) at BB or higher (as determined by S&P) and (ii) at Ba2 or higher (as determined by Moody’s) Ratings Level 3 Cardinal does not qualify for Ratings Xxxxx 0, Xxxxxxx Xxxxx 0 or Ratings Xxxxx 0 for any reason Ratings Level 4

Examples of Ratings Level in a sentence

• A change in the applicable Pricing Level will become effective as of the opening of business on the day on which such change in the Ratings Level becomes effective.

• We also received two key qualifications for the A350 fixed based flight training device used for pilot Common Type Ratings: Level 6 qualification by the FAA and Level 2 by the DGAC/EASA;- We qualified the world’s first simulators equipped with EASA-approved, FAA-approved and ICAO-compliant Upset Prevention and Recovery Training instructor stations.Expansions- We announced five new aviation training programs that are, or will soon be, ready for training.

• At such time as the Parent has achieved the Collateral Suspension Ratings Level, and so long as no Event of Default shall have occurred and be continuing, the Parent shall have the right, which may be exercised by written notice to the Administrative Agent, to require that the Collateral be released from any security interest created by the Loan Documents.

• Each change in the Ratings Level shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.

More Definitions of Ratings Level

Ratings Level shall have the meaning provided in the definition of the term “Applicable Margin” and “Commitment Fee Rate”, as applicable.

Ratings Level means, at any time, the “Ratings Level” set forth in the table below corresponding to the “Qualification Requirements” set forth in the table below.

Ratings Level means the ratings level applicable from time to time as set forth on Schedule II, which is based on the ratings of the Borrower's senior unsecured long-term debt by S&P or Moody's in accordance with Section 1.05 hereof.

Ratings Level has the meaning assigned to such term in the definition of "Applicable Margin". "Receivables" means any right to payment for goods sold or leased or for services rendered whether or not it has been earned by performance. "Recipient" means the Administrative Agent, any Lender, the Swing Line Bank or any Issuing Bank. "Register" has the meaning specified in Section 9.6(f). "Regulation U" means Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time. "Related Parties" means, with respect to any Person, such Person's Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person's Affiliates. "Relevant Currency Time" means, for any Borrowing in any currency, the local time in the city where the Administrative Agent's Account for such currency is located. "Relevant Governmental Body" means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board or the Federal Reserve Bank of New York, or any successor thereto. "Replacement Lender" has the meaning specified in Section 10.5. "Required Lenders" means, at any time, Xxxxxxx having Revolving Loan Exposures, outstanding Incremental Term Loans and unused Commitments representing more than 50% of the sum of the total Revolving Loan Exposures, total outstanding Incremental Term Loans and unused Commitments at such time. The Commitments of, and the portion of the Revolving Loan Exposure and Incremental Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. “Required Multicurrency Lenders” means, at any time, Lenders having Multicurrency Revolving Tranche Loan Outstandings and unused Multicurrency Revolving Tranche Loan Commitments representing more than 50% of the total Multicurrency Revolving Tranche Loan Outstandings. The Commitments of, and the portion of the Multicurrency Revolving Tranche Loan Outstandings and Multicurrency Revolving Tranche Loan Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Multicurrency Lenders.