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

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.

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

Examples of PIK Interest in a sentence

If the Company fails to give timely written notice to elect a form of interest payment for any Interest Payment Date on or prior to the PIK Termination Date, then the Company will be deemed to have elected PIK Interest for such Interest Payment Date.
The Company shall be required to give written notice to the Principal Purchaser to elect no later than five (5) Business Days prior to each applicable Interest Payment Date whether it shall pay Cash Interest or PIK Interest.
Notwithstanding anything to the contrary in this Note Purchase Agreement, the Notes or the other Note Documents, (i) the payment of accrued and unpaid interest in connection with any redemption of the Notes pursuant to Section ‎10.5 or on the Maturity Date shall be made solely in cash and (ii) the payment of accrued and unpaid interest in connection with any conversion of the Notes pursuant to Section 4.3 shall be made in the form of PIK Interest as described in Section 4.3(d).
Following an increase in the principal amount of the outstanding Notes as a result of PIK Interest, the Notes will bear interest at a rate of 6.0% per year on such increased principal amount from and after the date of such increase.
Any PIK Interest on the Notes will increase the principal amount of the Notes by an amount equal to the amount of PIK Interest for the applicable period (rounded up to the nearest whole dollar).

More Definitions of PIK Interest

PIK Interest means interest payable by increasing the principal amount of the Notes or by issuing PIK Notes.

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

PIK Interest has the meaning set forth in Section 3.4(a)(ii).

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 any accrued interest payments on Financing Debt that are postponed or made through the issuance of "payment-in-kind" notes or other similar securities (including book-entry accrual with respect to such postponed interest payments), all in accordance with the terms of such Financing Debt; provided, however, that in no event shall PIK Interest include payments made with cash or Cash Equivalents.

PIK Interest means the interest that accrues and is added to the outstanding principal balance of the Loans in accordance with Section 2.06(a)(ii), which shall thereafter be deemed principal bearing interest at the Floating Rate.

PIK Interest has the meaning set forth in Exhibit A hereto.