Examples of PIK Interest Election Notice in a sentence
Notwithstanding the foregoing, each Collateral Shortfall Notice, Borrowing Request, Voluntary Prepayment Notice, Mandatory Prepayment Notice, PIK Interest Election Notice, and any notice delivered pursuant to Section 2.09(e) and any notice of termination or reduction of Commitments may be delivered electronically.
Unless the Borrower delivers a PIK Interest Election Notice to the Administrative Agent at least three (3) Business Days prior to an Interest Payment Date, the Borrower will, subject to the immediately succeeding clause (B) below, be deemed to have elected for each Interest Period, to make interest payments in cash as set forth in Section 2.06(a)(i).
If the Borrower has delivered a PIK Interest Election Notice in accordance with the terms of this Section 2.06(a)(ii)(A), on the applicable Interest Payment Date, all accrued and unpaid interest shall be added to the principal amount of the Loans and shall, thereafter, be deemed an extension of additional Loans pursuant to the terms of, and subject to, the Loan Documents.
Unless the Borrower delivers to the Administrative Agent a PIK Interest Election Notice at least three Business Days prior to the applicable Interest Payment Date, the Borrower will be deemed to have elected for the applicable quarterly period to make interest payments in the form of cash interest.
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Notwithstanding the foregoing, each Collateral Shortfall Notice, Borrowing Request, Voluntary Prepayment Notice, Mandatory Prepayment Notice, PIK Interest Election Notice, and any notice delivered pursuant to S ection 2.09(e) and any notice of termination or reduction of Commitments may be delivered electronically.
Unless Borrower delivers a PIK Interest Election Notice to the Administrative Agent at least three (3) Business Days prior to an Interest Payment Date, Borrower will be deemed to have elected for each Interest Period, to make interest payments in cash as set forth in Section 2.06(a)(i).
This shows that despite appearing inside the noun phrase, the inposition still determines the case inflection of words in that noun phrase.
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Notwithstanding the foregoing, no PIK Interest Election Notice may be delivered with respect to the portion of the interest due on the March 15, 2018 Interest Payment Date, representing the Fee Spread and such portion of the interest will be paid in cash on such Interest Payment Date.