PIK Interest definition

PIK Interest has the meaning specified in Section 2.05(a).

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PIK Interest means interest paid with respect to the Notes in the form of increasing the outstanding principal amount of the Notes or issuing PIK Notes.

PIK Interest means interest accrued on a Loan Asset that is added to the principal amount of such Loan Asset instead of being paid as interest as it accrues.

Examples of PIK Interest in a sentence

All payments of PIK Interest hereunder shall be deemed to occur automatically on the applicable Interest Payment Date, and the Administrative Agent shall update the Register to reflect each such payment of PIK Interest and the allocation thereof among the applicable Lenders; provided that any delay or failure by the Administrative Agent to so update the Register shall not be construed as non-payment of such PIK Interest.
Subject to Section 5, the principal balance (including any PIK Interest) of, and any accrued and unpaid uncapitalized interest on, this Note shall be payable on the earlier of the date (the “Maturity Date”): (i) the occurrence of an Exit Event and (ii) the later of (A) [  ]6 and (B) six months after the date of the Payment in Full of the Senior Debt; provided, that on or prior to the Maturity Date, any outstanding principal amount may be reduced pursuant to and in accordance with Section 6.

More Definitions of PIK Interest

PIK Interest shall have the meaning ascribed to such term in Section 2(a) of this Note.

PIK Interest shall have the meaning set forth in Section 2(a).

PIK Interest means, with respect to any interest payment date, the interest paid-in-kind on the Securities in the form of (i) an increase in the outstanding principal amount of the Securities or (ii) the issuance of PIK Securities as of such interest payment date.

PIK Interest has the meaning set forth in Section 3.02(c).

PIK Interest has the meaning assigned to such term in Section 2.13(d).

PIK Interest. Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues, provided, that the interest of any Loan that is paid with the proceeds of a permitted drawing on a Revolving Loan shall not constitute PIK Interest.

PIK Interest means any paid-in-kind interest, fees or other amounts paid or payable in kind in connection with the Loans.