Additional PIK Interest definition

Additional PIK Interest has the meaning specified in Section 2.9(b)(viii).
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Additional PIK Interest shall have the meaning specified in Section 5.05(b).
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Additional PIK Interest is defined in Section 3.4(b)(ii).
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Examples of Additional PIK Interest in a sentence

  • The PIK Notes and the First PIK Interest Notes constitute, and the Additional PIK Interest Notes, when, as and if issued will constitute, legally valid and binding obligations of the Company.

  • Base Interest, PIK Interest and Additional PIK Interest, if any, hereunder shall be computed on the per annum basis of a year of three hundred sixty (360) days for the actual number of days (including the first day but excluding the last day) elapsed.

  • Accrued and unpaid Additional PIK Interest, if any, will be due and payable semi-annually in arrears on each Interest Payment Date to Holders of record on the Record Date immediately preceding the Interest Payment Date, and shall be payable by the Company by issuing additional Fixed Rate Notes with a principal amount equal to the Additional PIK Interest then due and payable (the “PIK Fixed Rate Notes”).

  • With respect to any PIK Notes required to be issued in connection with the payment of Additional PIK Interest, the Company shall deliver to the Trustee, no later than one Business Day prior to the relevant Interest Payment Date an order to authenticate and deliver such PIK Notes.

  • Such payments shall be made to the Agent at its Principal Office for the ratable accounts of the Lenders (except as otherwise may be provided with respect to a Defaulting Lender and except as provided in Section 5.08,5.09 or 5.10) in (except as provided in Section 5.05(b) with respect to PIK Interest and Additional PIK Interest) U.S. Dollars and in immediately available funds, and the Agent shall promptly distribute such amounts to the Lenders in immediately available funds.

  • The calculation of this amount differs from the "Weighted Average Additional PIK Interest" calculated as provided below in that (1) this calculation includes 100 per cent.

  • Accrued and unpaid Additional PIK Interest, if any, will be due and payable semi-annually in arrears on each Interest Payment Date to Holders of record on the Record Date immediately preceding the Interest Payment Date, and shall be payable by the Company by issuing additional Floating Rate Notes with a principal amount equal to the Additional PIK Interest then due and payable (the “PIK Floating Rate Notes”).

  • If an Event of Default occurs and is continuing, subject to the provisions of the Intercreditor Agreement, the Holders may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, or interest (including PIK Interest and Additional PIK Interest, if any) on the Notes or to enforce the performance of any provision of the Notes, this Agreement, any Security Document or any Guarantee.

  • Such payments shall be made to the Agent at its Principal Office for the ratable accounts of the Lenders (except as otherwise may be provided with respect to a Defaulting Lender and except as provided in Section 5.08, 5.09 or 5.10) in (except as provided in Section 5.05(b) with respect to PIK Interest and Additional PIK Interest) U.S. Dollars and in immediately available funds, and the Agent shall promptly distribute such amounts to the Lenders in immediately available funds.

  • The Additional PIK Interest shall be compounded monthly by adding the Additional PIK Interest to the principal amount of the Notes and shall be due and payable, in cash, at the Maturity Date and on the date of any repayment or prepayment of the Notes (with respect to the portion of such Notes so repaid or prepaid).


More Definitions of Additional PIK Interest

Additional PIK Interest means an amount of additional interest accruing on the outstanding Term B Loans from time to time, which interest rate shall be (a) [Percentage redacted for confidentiality reasons] from the Fourth Amendment Effective Date through and including March 31, 2021, and (b) thereafter the applicable percentage per annum set forth below determined by reference to the Consolidated Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) (with effect retroactively to the first day of the Fiscal Quarter immediately after the Fiscal Quarter to which such Compliance Certificate relates): Additional PIK Interest Consolidated Total Leverage Ratio [Percentage redacted for confidentiality reasons] < 5.00:1 [Percentage redacted for confidentiality reasons] > 5.00:1 but < 7.00:1 [Percentage redacted for confidentiality reasons] > 7.00:1 The Additional PIK Interest shall be paid-in-kind by being added to the outstanding principal amount of outstanding Term B Loans for each day during any period in which Additional PIK Interest accrues. For the avoidance of doubt, it is hereby acknowledged and agreed that, except to the extent expressly provided to the contrary herein, any reference to the principal balance of the Term B Loan shall be deemed to include the amount of all accrued Additional PIK Interest that has been added thereto to the Term B Loans.
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Additional PIK Interest means interest that accrues and is payable on each Interest Payment Date on each Loan that the Borrower elects not to pay in cash but to pay via a "payment-in-kind" or Additional PIK Loan made by Lenders to Borrower, which shall be added to the outstanding principal balance of the respective Loan, and shall thereafter accrue interest thereon at a rate equal to the rate payable on the respective Loan from time to time as provided herein, but in no event to exceed the Maximum Rate.
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Additional PIK Interest has the meaning specified in the Notes.
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Additional PIK Interest means the portion of an installment of interest due on an Interest Payment Date to be paid by issuance of Additional PIK Notes as and to the extent provided for in Section 4.01.
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Related to Additional PIK Interest

  • PIK Interest has the meaning specified in Section 2.05(a).

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Base Interest means the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Additional Payment is as defined in Section 6 of the Agreement.

  • Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

  • Additional Fee means a fee, in addition to the licence fee, imposed by the municipality on a business at any time during the term of the licence for costs incurred by the municipality attributable to the activities of the business;

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Class C Additional Interest is defined in Section 4.1(c).

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).

  • Additional Servicing Fee means, for any Collection Period, if a successor Servicer has been appointed pursuant to Section 8.2 of the Sale and Servicing Agreement, the amount, if any, by which (i) the compensation payable to such successor Servicer for such Collection Period exceeds (ii) the Monthly Servicing Fee for such Collection Period.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Collateral Senior Additional Interest shall have the meaning specified in subsection 4.02(d).

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Additional Payments means the amounts required to be paid by the Company pursuant to the provisions of Section 4.2 hereof.

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • Additional Fees means those prices for the Additional Goods/Services and additional costs and levies required from time to time and notified to you in advance, to provide adequately for the education and related activities and services provided to your Child, including the costs of extra-curricular activities or special educational needs;

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • PIK Loan means a Collateral Loan (other than a Partial PIK Loan) that permits the Obligor thereon to defer or capitalize any portion of the accrued interest thereon.

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Interest Date means the last day of an Interest Period.

  • PIK Amount means, as of any date of determination, the amount of all interest accrued with respect to the Loans that has been paid in kind by being added to the balance thereof in accordance with Section 2.04(b).

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

  • Cash Interest shall have the meaning assigned to such term in Section 2.06.