Level I Pricing definition

Level I Pricing applies on any day on which the Borrower’s long-term debt is rated A+ or higher by S&P or A1 or higher by Moody’s.

Level I Pricing applies at any date if, at such date, Whirlpool’s senior unsecured long-term debt is rated A or higher by S&P or A2 or higher by Moody’s. Level II Pricing” applies at any date if, at such date, (i) Whirlpool’s senior unsecured long-term debt is rated A- or higher by S&P or A3 or higher by Moody’s and (ii) Level I Pricing does not apply.

Level I Pricing means the pricing during any period during which the Company's long-term senior unsecured debt is rated AA or higher by S&P or Aa2 or higher by Moody's.

Examples of Level I Pricing in a sentence

• Such commitment fee shall accrue at the rate of (i) 0.25% per annum during any Level I Pricing Period, (ii) 0.30% per annum during any Level II Pricing Period, (iii) 0.375% per annum during any Level III Pricing Period or Level IV Pricing Period or (iv) 0.4375% during any Level V Pricing Period.

• Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V ³BBB+/ Baa1/BBB+ BBB/ Xxx0/XXX XXX-/ Xxx0/XXX- XX+/ Xx0/XX+ £BB/ Ba2/BB 0.125% 0.150% 1.750% 0.300% 0.350% The foregoing pricing shall be based on the Public Debt Ratings.

• Status Pricing Level I Pricing Level II Pricing Level III Pricing Level IV Pricing Level V Senior Debt Rating ≥ A/A/ A2 ≥ A-/A-/A3 ≥ BBB+/BBB+/Baa1 ≥ BBB/BBB/Baa2 < BBB/BBB/Baa2 Applicable Margin for Eurodollar Rate loans and Letter of Credit participation fees 0.900% 1.000% 1.075% 1.275% 1.475% Applicable for facility fees 0.100% 0.125% 0.175% 0.225% 0.275% Applicable Margin for ABR loans 0% 0% 0.

• LEVEL IV PRICING applies at any date if (i) the Applicable Leverage Ratio is greater than or equal to 0.30 and (ii) neither Level I Pricing, Level II Pricing nor Level III Pricing applies.

• All notices and other communications hereunder shall be sufficiently given for all purposes hereunder if in writing and delivered personally, sent by documented overnight delivery service or, to the extent receipt is confirmed, telecopy, telefax or other electronic transmission service to the appropriate address or numbers as set forth below.

More Definitions of Level I Pricing

Level I Pricing applies if the Debt Rating at the most recent Performance Pricing Determination Date was equal to or better than A+ or A1.

Level I Pricing applies on any day if on such day the Company’s unsecured long-term debt securities are rated A+ or higher by S&P or A1 or higher by Moody’s.

Level I Pricing applies from (a) (i) the Closing Date and (ii) any date on which no other Pricing Level is applicable until (b) the next subsequent Adjustment Date on which another Pricing Level be- comes applicable.

Level I Pricing applies for any day on which the Pricing Category is I; “Level II Pricing” applies for any day on which the Pricing Category is II; “Level III Pricing” applies for any day on which the Pricing Category is III; “Level IV Pricing” applies for any day on which the Pricing Category is IV; and “Level V Pricing” applies for any day on which the Pricing Category is V.

Level I Pricing applies at any date if, at such date, (a) the Borrower's long-term senior unsecured debt is rated at least BBB by S&P or Baa2 by Moody's,* or (b) the Consolidated Leverage Ratio, as shown in the most recent financial statements delivered pursuant to Section 5.1(a) or (b), is less than 2.25. "Level II Pricing" applies at any date if, at such date, Level I is not applicable, and (a) the Borrower's long-term senior unsecured debt is rated at least BBB- by S&P and Baa3 by Moody's, or (b) the Consolidated Leverage Ratio, as shown in the most recent financial statements delivered pursuant to Section 5.1(a) or (b), is less than 2.50. "Level III Pricing" applies at any date if, at such date, neither Level I Pricing nor Level II Pricing applies.

Level I Pricing applies on any day on which the Reference Rating is BBB/Baa2/BBB or higher.

Level I Pricing applies during any Rate Period if, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was less than 1.75 to 1.