PIK Amount definition

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).

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PIK Amount has the meaning specified in Section 2.06(a).

PIK Amount shall have the meaning specified in Section 2.2.

Examples of PIK Amount in a sentence

• Interest payable on the Original Principal Amount (including the PIK Amount (as defined below) added thereto, the “Principal Amount”) shall accrue at a rate per annum equal to eight percent (8%) (the “Contract Rate”).

• Each prepayment made pursuant to this Section 2.05(b)(ii) shall be accompanied by the payment of (A) accrued interest to the date of such payment on the amount prepaid (which for the avoidance of doubt, shall not include any PIK Amount) and (B) the Applicable Premium payable in connection with such prepayment of the Term Loan.

• Subject to the terms of this Agreement, at the option of the Administrative Borrower, the Term Loan (including, without limitation, the PIK Amount relating thereto) or any portion thereof shall be either a Reference Rate Loan or a SOFR Loan.

• In addition, any overdue interest on this Note shall bear interest, payable on demand in immediately available funds, at a rate equal to the applicable interest rate in effect hereunder plus two percent (2%) (and interest shall be paid entirely in cash and no PIK Amount shall be added to the Accreted Principal Amount of this Note in respect of such interest).

• The Company shall pay the principal amount due under this Note including all PIK Amounts and all accrued and unpaid interest (all of which shall be payable in cash and no portion of which shall be payable by addition of a PIK Amount to the Accreted Principal Amount) on the Maturity Date.

More Definitions of PIK Amount

PIK Amount shall have the meaning assigned to such term in Section 2.13(a).

PIK Amount has the meaning set forth in Section 2.4.

PIK Amount has the meaning set forth in Section 2.2(b).

PIK Amount means, as of any date of determination, the amount of the Third Amendment Fee that has been paid-in-kind.

PIK Amount means, as of any date of determination, an amount to be added to the outstanding principal amount under each Note on such date equal to the product of (i) the Daily Interest Rate multiplied by (ii) the Principal Amount of the applicable Note outstanding as of the immediately preceding Interest Payment Date (or in the case of the first Interest Period for each Note, the date hereof), subject to any reduction in the Principal Amount of the applicable Note as a result of any repayment of the principal of such Note prior to such date of determination in accordance with the terms hereof and the Intercreditor Agreement.

PIK Amount shall, in respect of any Interest Payment Date, be an amount equal to one-sixth of the interest otherwise payable on such Interest Payment Date. Any interest paid in kind by adding such interest then due to the unpaid principal amount shall be referred to as “PIK Interest.”

PIK Amount has the meaning set forth in the definition of Applicable Margin.