PIK Bonds definition

PIK Bonds means the PIK bonds to be issued by the Issuer (including any bonds issued by a Subsequent PIK Bond Issue) and held by one or a group of investors to be applied pro rata towards the same purposes (and at the same time(s)) as the Initial Bond Issue, to be secured on a second lien basis (ranking in respect of Enforcement Proceeds behind any obligations arising under the SSRCF Finance Documents, any Permitted Hedging Obligations, the Finance Documents and any New Debt (as set out in the Intercreditor Agreement).
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PIK Bonds means bonds issued pursuant to any option the Company may have as a term of any series of bonds to satisfy the obligation of the Company to pay interest on such series of bonds on any or all specified interest payment dates. Any PIK Bonds shall have the same terms, including rate of interest and maturity, as those of the series of bonds in respect of which such PIK Bonds are issued, unless the supplemental indenture providing for the issuance of such PIK Bonds provides otherwise. The term “prior lien” as used herein shall not include the lien of the 1944 Mortgage.
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PIK Bonds means any Bonds issued pursuant to Clause 8(c) after the First Issue Date on one or more occasions.
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Examples of PIK Bonds in a sentence

  • The Bonds and the Trustee’s certificate of authentication thereon shall be substantially in the form of Exhibit A hereto (with such appropriate insertions or variations, in the case of any PIK Bonds, as are required or permitted by the Trustee).

  • The Company shall pay principal and interest in such coin or currency of the United States (except for the issuance of PIK Bonds as payment of interest) that at the time of payment is immediately available legal tender for payment of public and private debts (“U.S. Legal Tender”).

  • Payments of interest in the form of PIK Bonds in respect of this Bond issued in the form of a definitive Bond shall be made through the issuance of definitive PIK Bonds by the Trustee to the Holder on the applicable Record Date at its address appearing on the Register maintained with respect to this Bond.

  • This operation found that a large part of the well was effectively blocked with a sand plug and in early March the well was returned to production again unassisted but with a 2 7/8 inch tubing string in place.

  • The Company will pay interest quarterly in arrears on each Interest Payment Date, commencing February 1, 2008; provided, however that if a Shortfall exists on any Interest Payment Date (other than an Interest Payment Date that is also a Redemption Date) between and including November 16, 2007 and November 16, 2010, such Shortfall shall be payable through the issuance of PIK Bonds in a principal amount equal to such Shortfall pursuant to Section 2.02(c)(ii) of the Indenture.

  • Payments of interest in the form of PIK Bonds in respect of this Bond issued in the form of a Global Bond shall be effected by the Trustee’s notation of an increase in the principal amount of this Bond as set forth above and through the book-entry procedures of DTC.


More Definitions of PIK Bonds

PIK Bonds means the Bonds to be issued subsequently on each Interest Payment Date as settlement for Interest Payments.
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PIK Bonds means Super Senior Secured Bonds issued as settlement for interest, as defined in the Super Senior Secured Bond Term Sheet Clause 7.
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PIK Bonds means the Company’s Senior Secured Floating Rate Bonds due 2012, issued pursuant to Section 2.02(c)(ii).
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Related to PIK Bonds

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.

  • 2028 Notes has the meaning specified in the recitals of this First Supplemental Indenture.

  • PIK Notes means additional Notes issued under this Indenture on the same terms and conditions as the Notes issued on the Closing Date in connection with the payment of PIK Interest.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • 2015 Notes means the 8.375% senior notes due 2015 in the principal amounts of $615 million and €500 million issued pursuant to the 2015 Notes Indenture.

  • 2021 Notes means the 4.700% Senior Notes due 2021, originally issued by Ensco plc (now Valaris), a public limited company organized under the laws of England and Wales.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • 2014 Notes means (i) the 4.850% Senior Secured Notes due 2024 issued by the Issuer on March 18, 2014 and (ii) the 4.45% Senior Secured Notes due 2025 and the 5.45% Senior Secured Notes due 2034 issued by the Issuer on August 21, 2014.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • 2022 Notes means the 4.875% Senior Notes due 2022, originally issued by Rowan Companies, Inc., a Delaware corporation.

  • Term Bonds means Bonds that mature on one date and that are subject to mandatory redemption from Amortization Installments or are subject to extraordinary mandatory or mandatory redemption upon receipt of unscheduled Pledged Revenues.

  • Existing Bonds means the following obligations of Seller:

  • 2024 Notes means the 7.625% unsecured notes due April 15, 2024, issued pursuant to the 2009 Notes Indenture.

  • 2020 Notes means the 6.875% Senior Notes due 2020, issued by Pride International LLC, a Delaware limited liability company.

  • 2018 Notes means the Company’s 7.75% Senior Subordinated Notes due 2018 issued under the Indenture dated December 14, 2010 among the Company, Holdings and the subsidiary guarantors from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee.

  • 2023 Notes means the 6 7/8% Notes due 2023 issued by NTL pursuant to the 1988 Indenture.

  • 2016 Notes means the aggregate principal amount of US$460,000,000 of 4.25% Convertible Senior Notes Due 2016 issued pursuant to the 2016 Note Indenture.

  • 2017 Notes means the aggregate principal amount of US$600,000,000 of 6.25% Guaranteed Senior Notes Due 2017 issued pursuant to the 2017 Note Indenture.

  • Serial Bonds means Bonds (other than Term Bonds) that mature in annual or semi-annual installments.

  • School Bonds means School Obligations issued as Bonds.

  • 2011 Notes means those certain notes issued pursuant to the Note Purchase Agreement dated as of March 22, 2011 among the Company and the purchasers named in Schedule A thereto.

  • 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);

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.