Common use of PIK Notes Clause in Contracts

PIK Notes. In connection with the payment of PIK Interest in respect of the Notes, the Issuers may, without the consent of the Holders and without regard to any restrictions or limitations set forth in Section 4.09 hereof, elect to either increase the outstanding principal amount of the Notes or issue additional certificated Notes (“PIK Notes”) under this Indenture on the same terms and conditions as the Initial Notes (in each case, a “PIK Payment”). The Notes, including any PIK Notes and any Additional Notes subsequently issued under this Indenture, will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase. Unless the context requires otherwise, references to “Notes” for all purposes of this Indenture shall include any Additional Notes and PIK Notes that are actually issued and any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Payment, and references to “principal amount” of the Notes shall include any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Payment. PIK Notes will be issued in minimum denominations of $1.00 and integral multiples of $1.00 in excess thereof.

PIK Notes. In connection with the payment of PIK Payment-in-Kind Interest in respect of the Notes, the Issuers mayCompany is entitled to, without the consent of the Holders and without regard to any restrictions or limitations set forth in Section 4.09 hereof, elect to either increase the outstanding principal amount of the Notes or issue additional certificated Notes (the “PIK Notes”) under this Indenture on the same terms and conditions as the Initial Notes offered hereby (in each case, a the “PIK Payment”). The Notes, including any the PIK Notes, will be treated as a single class of securities under this Indenture. As a result, Holders of the Notes and the PIK Notes will not have separate rights to, among other things, give notice of Defaults or to direct the Trustee to exercise remedies during an Event of Default or otherwise. Except as described under Article 9 hereof, the Notes offered by the Company, the PIK Notes and any Additional additional Notes subsequently issued under this Indenture, Indenture will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase. Unless the context requires otherwise, references to “Notes” for all purposes of this Indenture shall include any Additional PIK Notes and PIK additional Notes that are actually issued and any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Paymentissued, and references to “principal amount” of the Notes shall include includes any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Payment. PIK Notes will be issued in minimum denominations of $1.00 and integral multiples of $1.00 in excess thereof.