Holdings PIK Notes definition
Holdings PIK Notes means Holdings’ $2,427.1 million 11 1/2%/12 1/2% Senior PIK Election Notes due 2017.
Holdings PIK Notes means the 16% Senior Unsecured Notes due
Holdings PIK Notes means Holdings’ $2,427.1 million 11 1/2%/12 1/2% Senior PIK Election Notes due 2017. “Holdings Senior Notes” shall mean Holdings’ $2,805.0 million 11 1/4% Senior Notes due 2017.
Examples of Holdings PIK Notes in a sentence
Except with respect to specific property encumbered to secure payment of particular Indebtedness or to be sold pursuant to an executed agreement with respect to an Asset Sale, neither Company nor any of its Subsidiaries shall enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties or assets, whether now owned or hereafter acquired (other than in connection with the Senior Subordinated Notes, the Holdings Notes and the Holdings PIK Notes).
More Definitions of Holdings PIK Notes
Holdings PIK Notes means the 11.45% Senior Pay-in-Kind Notes due 2007 issued by Holdings.
Holdings PIK Notes means Indebtedness of Holdings evidenced by pay-in-kind subordinated promissory notes issued (I) in exchange for Senior Subordinated Notes in connection with the Minimum Senior Subordinated Notes Exchange Transaction, the Maximum Senior Subordinated Notes Exchange Transaction or an Alternative Senior Subordinated Notes Exchange Transaction and (II) to pay in kind regularly accruing interest on any such theretofore outstanding subordinated promissory notes, which Indebtedness (i) shall provide that the interest rate applicable thereto does not exceed 12.0% per annum, of which no more than 1.0% shall be paid in cash, with the remaining portion of such interest to be payable solely in kind, (ii) shall not mature prior to the seventh anniversary of the date of the consummation of the Exchange Transaction, (iii) has a weighted average life to maturity greater than or equal to the weighted average life to maturity of the Senior Subordinated Notes, (iv) does not (x) in the case of Indebtedness referred to in clause (I) above, increase the amount of Indebtedness outstanding immediately prior to such issuance and exchange or (y) provide for any guarantors or security, (v) has substantially the same (or, from the perspective of the Banks, more favorable) subordination provisions, if any, as applied to the Senior Subordinated Notes, provided that, in any event, such subordination shall prohibit the payment of any such Indebtedness (and cash interest obligations with respect thereto) upon the occurrence of a Default or an Event of Default and contain a complete suspension of remedies at all times Obligations are outstanding, (vi) has no negative covenants or mandatory prepayment provisions, other than a "change of control" put on terms no less favorable to Holdings and its Subsidiaries than that previously existing with respect to the Senior Subordinated Notes, (vii) has terms and conditions (including, without limitation, with respect to the amortization, redemption provisions, defaults and remedies), that are not, taken as a whole, less favorable in any material respect to Holdings and its Subsidiaries than those previously existing with respect to the Senior Subordinated Notes; provided that terms and conditions of such Indebtedness specifically required pursuant to the other subclauses of this definition shall not be taken into account in making any determination pursuant to this clause (vii), and (viii) unless issued pursuant to the Alternative Senior Subordinate...
Holdings PIK Notes means up to $20.0 million in aggregate principal amount of Holdings' 12% pay-in-kind notes due 2009 plus any additional pay-in-kind notes issued in respect of interest thereon in accordance with the terms thereof.