PIK Election definition

PIK Election has the meaning assigned to such term in Section 2.09(c).

PIK Election as defined in Section 2.7(d).

PIK Election has the meaning set forth in Section 2.05(d).

Examples of PIK Election in a sentence

• Irrespective of the date a PIK Election Notice is made, the actual payment in kind will occur on the applicable Interest Payment Date.

• If a PIK Election Notice electing to pay interest in kind is made, on the applicable Interest Payment Date, the amount elected to be paid in kind will be capitalized, compounded and added to the unpaid principal amount of this Note effective as of such Interest Payment Date.

• Unless otherwise consented to in writing by the Holder, if the Issuers fail to deliver a PIK Election Notice to Holder on or before the date specified above for such notice and do not make an interest payment in cash on the applicable Interest Payment Date for all interest due, it shall be deemed that the Issuers have elected to pay the balance of the interest due on the applicable Interest Payment Date in kind.

• New Bermuda Adjusted EBITDA is a term based on Adjusted EBITDA, as defined in the indenture governing the 11 1/4% Senior Notes due 2017 and 11 1/2%/12 1/2% Senior PIK Election Notes due 2017 issued by Intelsat Bermuda on June 27, 2008.

• To make an election pursuant to this Section 2.04(a), the Borrower shall notify the Administrative Agent of such election in writing by delivery to the Administrative Agent of an executed PIK Election Request at least five (5) Business Days prior to each Interest Payment Date indicating the amount of interest to be paid in kind and the amount of interest to be paid in cash in respect of the Loans on such Interest Payment Date.

More Definitions of PIK Election

PIK Election shall have the meaning set forth in Section 2.06(d).

PIK Election has the meaning set forth in Section 1.1(b).

PIK Election means an election by the Issuer to satisfy an Interest Obligation on the applicable Interest Payment Date by issuing PIK Debentures in accordance with Article 5.

PIK Election means an election by the Borrower to pay interest in kind pursuant to, and in accordance with, Section 2.13(d)(iv)(y).

PIK Election shall have the meaning provided for in Section 4.3.1(b).

PIK Election is defined in Section 7.1(b)(ii).

PIK Election has the meaning set forth in Section 314.