Common use of PIK Notes Clause in Contracts

PIK Notes. In connection with a PIK Payment in respect of the Notes, the Company shall, without the consent of the Holders (and without regard to any restrictions or limitations set forth under Section 3.2, with such PIK Interest deemed permitted thereunder) either increase the aggregate principal amount of an outstanding Global Note in the applicable amount of PIK Interest or issue Global Notes or Definitive Notes under this Indenture having the same terms as the Initial Notes or the Additional Notes, as applicable, subject to Section 2.14, in the amount of the applicable PIK Interest (“PIK Notes”). PIK Notes, if any, shall be consolidated with and form a single class with the Initial Notes or the Additional Notes, as applicable and shall have the same terms as to status, redemption or otherwise (other than issue date, issue price and, if applicable, the first Interest Payment Date and the first date from which interest will accrue) as the Initial Notes or the Additional Notes, as applicable.