Applicable Maximum Level definition

Applicable Maximum Level means (x) 3.50 to 1.00, or (y) 3.75 to 1.00, provided that (1) the Company may elect the Applicable Maximum Level of 3.75 to 1.00 only for up to three consecutive Applicable Relief Periods, and (2) the Company may elect an Applicable Maximum Level of 3.50 to 1.00 for any or all of the Applicable Relief Periods; and (c) the “Applicable Coupon Adjustment”) means 0.25% per annum during any Applicable Relief Period when the Applicable Maximum Level is 3.50 to 1.00, or 0.50% per annum during any Applicable Relief Period when the Applicable Maximum Level is 3.75 to 1.00;
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Applicable Maximum Level has the meaning specified in Section 7.01(b).
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Applicable Maximum Level means (x) 3.50 to 1.00, or (y) 3.75 to 1.00, provided that (1) the Borrower may elect the Applicable Maximum Level of 3.75 to 1.00 only for up to three consecutive Applicable Relief Periods, and (2) the Borrower may elect an Applicable Maximum Level of 3.50 to 1.00 for any or all of the Applicable Relief Periods;
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Related to Applicable Maximum Level

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Maximum Index Level means, in respect of a series of bear CBBCs, the highest Spot Level of the Index during the MCE Valuation Period;

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable ▇▇▇▇▇’▇ Rating as follows: S&P Rating/▇▇▇▇▇’▇ Rating Applicable Rating Level S&P Rating AA or higher or ▇▇▇▇▇’▇ Rating Aa2 or higher 1 S&P Rating AA- or ▇▇▇▇▇’▇ Rating Aa3 2 S&P Rating A+ or ▇▇▇▇▇’▇ Rating A1 3 S&P Rating A or ▇▇▇▇▇’▇ Rating A2 4 S&P Rating A- or below or ▇▇▇▇▇’▇ Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the ▇▇▇▇▇’▇ Rating in effect on such day. If the S&P Rating and the ▇▇▇▇▇’▇ Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Applicable Margins means collectively the Applicable L/C Margin, the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: