Pricing Level II definition

Pricing Level II shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00.
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Pricing Level II means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB+ or higher by S&P or Baa1 or higher by Moody’s and (iii) Pricing Level I does not apply.
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Pricing Level II means at any time the Borrower’s Senior Debt Rating is (a) A or higher by S&P or (b) A2 or higher by Moody’s, and Pricing Level I is not applicable.
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Examples of Pricing Level II in a sentence

  • The Applicable Percentage from Closing Date shall be based on Pricing Level II, subject to adjustment as provided herein.

  • As of the date hereof, the initial applicable margin or fee for all Advances shall be the margin or fee set out in Pricing Level II in the Pricing Grid and shall be held at Pricing Level II until required to be adjusted in accordance with the provisions of this Agreement.

  • The Applicable Percentages shall be based on Term Loan Pricing Level II until the first Interest Determination Date occurring after the delivery of the officer’s compliance certificate pursuant to Section 5.2(b) for the quarter ended September 30, 2010.

  • Pricing Level II shall apply commencing on the Restatement Effective Date until adjusted pursuant to the immediately preceding paragraph.

  • Pricing Level II shall apply commencing on the First Amendment Effective Date until adjusted pursuant to the immediately preceding paragraph.


More Definitions of Pricing Level II

Pricing Level II any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is A‑ or higher or (y) ▇▇▇▇▇’▇ is A3 or higher and (ii) Pricing Level I does not apply.
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Pricing Level II means the applicable Pricing Level at any time when the Leverage Ratio is greater than 1.00:1.00 but less than or equal to 1.50:1.00.
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Pricing Level II the Pricing Level which would be applicable for so long as the Senior Debt Rating is equal to BBB by S&P or Baa2 by ▇▇▇▇▇’▇ and Pricing Level I is not applicable;
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Pricing Level II shall exist on an Adjustment Date if the Secured Leverage Ratio for the relevant period is less than or equal to 2.00 to 1.00 but greater than 1.50 to 1.00 and shall apply to the Revolving Loans and Swingline Loans.
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Pricing Level II shall be applicable for so long as the Senior Debt Rating is greater than or equal to A- by S&P or greater than or equal to A3 by Moody's and Pricing Level I is not applicable; "Pricing Level III" shall be applicable for so long as the Senior Debt Rating is greater than or equal to BBB+ by S&P or greater than or equal to Baa1 by Moody's and neither Pricing Level I nor II is applicable; "Pricing Level IV" shall be applicable for so long as the Senior Debt Rating is greater than or equal to BBB by S&P or greater than or equal to Baa2 by Moody's and none of Pricing Level I, II or III is applicable; "Pricing Level V" shall be applicable for so long as the Senior Debt Rating is greater than or equal to BBB- by S&P or greater than or equal to Baa3 by Moody's and none of Pricing Level I, II, III or IV is applicable; and "Pricing Level VI" shall be applicable for so long as none of Pricing Level I, II, III, IV or V is applicable. Notwithstanding the foregoing, (i) in the event of a split rating as between S&P and Moody's by more than one equivalent rating level, then the Pricing Level shall be determined by a rating that is one rating higher than the lower of the two ratings; (ii) in the event that no Senior Debt Rating is made available by S&P and Moody's and the Company's senior subordinated unsecured debt rating is made available by S&P or Moody's, then for purposes of the foregoing determinations the Senior Debt Rating shall be deemed to be one rating higher than such subordinated unsecured debt rating (e.g., if such subordinated unsecured debt rating by S&P is A-, then the Senior Debt Rating by S&P shall be deemed to be A); and (iii) in the event that no Senior Debt Rating and no such subordinated unsecured debt rating are made available by S&P and Moody's, then Pricing Level VI above shall apply.
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Pricing Level II shall exist on an Adjustment Date if the Debt to Cash Flow Ratio for the relevant period is less than or equal to 2.50 to 1.00 but greater than 2.00 1.75 to 1.00.
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Pricing Level II means at any time the Borrower’s Issuer Rating is (a) BBB+ or higher by S&P or (b) Baa1 or higher by Moody’s, and Pricing Level I is not applicable.
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