Convertible PIK Notes definition

Convertible PIK Notes means the $200 million aggregate principal amount of 10% Convertible PIK Toggle Notes due 2018 issued by the Issuer on the Issue Date and any Convertible PIK Notes issued as pay-in-kind interest on the Convertible PIK Notes.
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Convertible PIK Notes means the 1% / 12% Step-Up Senior Secured Third Lien Convertible Notes due 2030 of the Company issued under the Plan.
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Convertible PIK Notes means the US dollar equivalent of $125,000,000 of unsecured, subordinated convertible notes issued to the holders of the Existing Notes and the lenders under the Existing Credit Agreement on a proportionate basis as part of the CBCA Plan of Arrangement as further consideration for the retirement of the Existing Notes and obligations under the Existing Credit Agreement (other than the Existing LCs and the Existing Swing Line Overage). Interest on such notes will accrue at 10% per annum and will be 100% PIK’d while the Credit Agreement remains outstanding. Such notes have a maturity of 15 years and the holders thereof will have no acceleration rights except related to insolvency events. These notes will not be assignable unless the assignor holder thereof concurrently assigns a corresponding proportion of its Second Lien Notes.
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Examples of Convertible PIK Notes in a sentence

  • Any Subsidiary of Holdings that becomes a party to the Guaranty and Security Agreement after the Original Issue Date shall be a Guarantor with respect to 13.0% Second-Lien Convertible PIK Notes Due 2019, including this Amended and Restated Note, notwithstanding that it has not executed the Notation of Guarantee on any Notes, including the Notation of Guarantee on this Amended and Restated Note.

  • Except for the ▇▇▇▇▇▇ Convertible PIK Notes, ▇▇▇▇▇▇ has no outstanding bonds, debentures, notes or other obligations the holders of which have the right to vote (or which are convertible into or exercisable for securities having the right to vote) with the stockholders of ▇▇▇▇▇▇ on any matter.

  • The Convertible PIK Notes will be secured by the Note Liens on an equal and ratable basis with the Second Lien Notes.

  • The Convertible PIK Notes shall convert into 393,152,352 Common Units at a conversion price of $0.8483 per unit (assuming the Effective Date of July 15, 2016).

  • For the avoidance of doubt, a Partnership Redemption and the Purchase Right can be effected in combination as two transactions that close simultaneously, so long as at the conclusion of the combined transactions all (but not less than all) of the Convertible PIK Notes are redeemed, repurchased, refinanced, defeased or otherwise retired.

  • See Schedule 1 hereto for the Partnership’s projected equity ownership as of April 7, 2017, pro forma for the conversion of the Convertible PIK Notes.

  • The Senior shall lay out a work schedule in advance for any person who is to be on detail.

  • FELP shall redeem the Convertible PIK Notes before or at maturity; provided, however, that if no Note Redemption shall have occurred by the Redemption Date then the Convertible PIK Notes shall automatically convert into Common Units representing 75% of the outstanding FELP Units.

  • The Issuers shall not be required to file a registration statement with the Securities and Exchange Commission relating to the initial issuance or any resale of the Convertible PIK Notes and shall not be required to commence an offer to exchange the Convertible PIK Notes for SEC registered notes or other notes; provided, however, that, on the Effective Date, FELP shall be required to execute and deliver the Registration Rights Agreement.

  • For the avoidance of doubt, notwithstanding any reference in this Term Sheet to FELP or the Partnership redeeming the Convertible PIK Notes, the relevant definitive documents shall provide that the Issuers are the legal entities redeeming the Convertible PIK Notes.


More Definitions of Convertible PIK Notes

Convertible PIK Notes means any additional Convertible Notes issued or deemed issued pursuant to Section 4.01 of the Convertible Notes Indenture.
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Related to Convertible PIK Notes

  • Convertible Senior Notes means the 5.50% Convertible Senior Notes of the Company due 2022 issued pursuant to the Convertible Notes Indenture.

  • Convertible Notes means indebtedness of the Company that is optionally convertible into Capital Stock of the Company (and/or cash based on the value of such Capital Stock) and/or indebtedness of a Subsidiary of the Company that is optionally exchangeable for Capital Stock of the Company (and/or cash based on the value of such Capital Stock).

  • Convertible Bonds means the $450,000,000 1.875 per cent senior unsecured guaranteed convertible bonds due 2025 and issued by NMC Health (Jersey) Limited, including the transactions contemplated under the Transaction Documents (as defined in the Convertible Bond Trust Deed);

  • New Convertible Notes means the Company’s 5.0% Senior Unsecured Convertible Notes due 2023.

  • Series B Convertible Preferred Stock means the Series B Convertible Preferred Stock, par value $0.0001 per share, of the Company.