PIK Event definition

PIK Event has the meaning given to such term in Section 5.4(d).
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PIK Event means an occurrence of an event where the Bond Trustee receives sufficient evidence that the shareholders of the Issuer have injected new equity since 1 August 2016 in the Issuer equalling, in total, the following amounts prior to the Interest Payment Date falling on that date;
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PIK Event means any time that any PIK Interest is outstanding on the Tranche A Notes.
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Examples of PIK Event in a sentence

  • The Board shall notify the Members of any such PIK Event, including details of the amount of the deficiency and the calculation of the in kind amount, on or before the Quarterly Payment Date in respect of which such PIK Event occurs.

Related to PIK Event

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Conversion Event means the cessation of use of (i) a Foreign Currency (other than the ECU or other currency unit) both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).