PIK Dividend Rate definition

PIK Dividend Rate means the rate per Dividend Period of 3.75% (15.0% per annum) per share of Redeemable Preferred Stock.
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PIK Dividend Rate means the rate per Dividend Period of 3.25% (13.0% per annum) per share of Redeemable Preferred Stock.
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PIK Dividend Rate means a rate per annum equal to 12.5%.
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Examples of PIK Dividend Rate in a sentence

  • If the Convertible Preferred Shares are converted in this scenario, they would convert into such number of Ordinary Shares as is equal to the Accrued Outstanding Investment represented by the Convertible Preferred Shares being converted (plus all Accrued Dividends thereon (at the PIK Dividend Rate)) at an Ordinary Share price equal to the 30-day trailing VWAP of the Ordinary Shares.

  • Upon reconversion, such Convertible Preferred Shares would be entitled to any Preferred Dividends (at the PIK Dividend Rate) that would have accrued on them during any period into which they had converted to Ordinary Shares, as if they had not so converted.If a Change in Control Event, occurs other than one described in (1) or (2) above, then the Company cannot commit to or effect that transaction without the consent of KED.

  • Following the sixth (6th) anniversary of the Completion Date, the PIK Dividend Rate would be subject to an incremental increase of 1 per cent.

  • In the event the Board of Directors elects to declare a dividend payable in shares of Series B Preferred Stock, each holder of shares of Series B Preferred Stock shall be entitled to receive such additional shares of Series B Preferred Stock (or cash in lieu of a fraction thereof) equal to the product of (x) the number of shares of Series B Preferred Stock held by such holder multiplied by (y) the PIK Dividend Rate.

  • If, on any Dividend Payment Date, the holders of the Series B Preferred Stock shall not have received the full dividends provided for in this Section 2(a) in cash or in kind, then such dividends shall cumulate, whether or not earned or declared, with additional dividends thereon, compounded quarterly, at the PIK Dividend Rate applicable to the Series B Preferred Stock as provided in this Section 2(a), for each succeeding full Quarterly Dividend Period during which such dividends shall remain unpaid.

  • In the event the Board of Directors elects to declare a dividend payable in shares of Series C Preferred Stock, each holder of shares of Series C Preferred Stock shall be entitled to receive such additional shares of Series C Preferred Stock (or cash in lieu of a fraction thereof) equal to the product of (x) the number of shares of Series C Preferred Stock held by such holder multiplied by (y) the PIK Dividend Rate.


More Definitions of PIK Dividend Rate

PIK Dividend Rate means 8.5% per annum;
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PIK Dividend Rate means twelve percent (12%) per annum (or fourteen percent (14%) per annum during any Dividend Rate Increase Period), as may be increased from time to time pursuant to the terms hereof (including pursuant to Section 2.10(c) and the final paragraph of Section 5.11).
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PIK Dividend Rate means 3.00% per annum.
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Related to PIK Dividend Rate

  • Dividend Rate has the meaning set forth in the Statement.

  • Initial Dividend Rate means, with respect to a series of APS, the rate per annum applicable to the Initial Dividend Period for such series of APS.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Applicable Dividend Rate means (i) during the period from the Original Issue Date to, but excluding, the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 5% per annum and (ii) from and after the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 9% per annum.

  • Floating Quarterly Dividend Rate means, for any Quarterly Floating Rate Period, the rate of interest (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the T-Bill Rate on the applicable Floating Rate Calculation Date plus 1.60% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365).

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • 7-Day Dividend Period means a Dividend Period consisting of seven days.

  • Quarterly Dividend Period means the quarterly period commencing on and including a Dividend Payment Date and ending on and including the day immediately preceding the next subsequent Dividend Payment Date.

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Special Dividend Period means a Dividend Period consisting of (i) a specified number of days (other than seven), evenly divisible by seven and not fewer than seven nor more than 364 or (ii) a specified period of one whole year or more but not greater than five years (in each case subject to adjustment as provided in paragraph 2(b)(i)).

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Preferred Dividends means, for any period and without duplication, all Restricted Payments paid during such period on Preferred Equity Interests issued by the Parent or a Subsidiary. Preferred Dividends shall not include dividends or distributions (a) paid or payable solely in Equity Interests (other than Mandatorily Redeemable Stock) payable to holders of such class of Equity Interests, (b) paid or payable to the Parent or a Subsidiary, or (c) constituting or resulting in the redemption of Preferred Equity Interests, other than scheduled redemptions not constituting balloon, bullet or similar redemptions in full.

  • Initial Dividend Period means the dividend period commencing on the Issue Date and ending on the first Dividend Payment Date to occur thereafter.

  • Regular Dividend means USD 0.75 per Share per quarter. Upon any adjustment to the Initial Dividend Threshold (as defined in the Indenture) for the Convertible Notes pursuant to the Indenture, the Calculation Agent will make a corresponding adjustment to the Regular Dividend for the Transaction.

  • Series B Conversion Price means, as of the applicable Conversion Date, the greater of (A) the average of the Market Values of the Common Stock for the five consecutive Trading Days preceeding (but not including) such Conversion Date, or (B) the then effective Series B Minimum Conversion Price.

  • Dividend Period means the Initial Dividend Period, any 7-Day Dividend Period and any Special Dividend Period.

  • Final Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency determined by the Calculation Agent equal to the Notional Amount multiplied by:

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 85% of the lesser of (i) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if after the Interest Payment Date.

  • Preferred Stock Dividends means all dividends with respect to Preferred Stock of Restricted Subsidiaries held by Persons other than the Company or a Wholly Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of such Preferred Stock.

  • Accumulated Dividends means, with respect to any share of Preferred Stock, as of any date, the aggregate accumulated and unpaid dividends on such share from the Issue Date until the most recent Dividend Payment Date on or prior to such date. There shall be no Accumulated Dividends with respect to any share of Preferred Stock prior to the first Dividend Payment Date.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

  • Liquidation Preference Amount means $25,000 per share of Series A Preferred Stock.

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • Early Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency calculated by the Calculation Agent as the fair market value (calculated without taking into account the creditworthiness of the Company) of a Preference Share as of the Early Preference Share Valuation Date taking into account such factor(s) as the Calculation Agent determines appropriate, including, but not limited to, the relevant Early Preference Share Redemption Event after deducting any Associated Costs (to the extent not already reflected in such fair market value).