PIK Interest Notes definition

PIK Interest Notes means the promissory notes issued pursuant to the TCC Note in payment of interest on the TCC Note.
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PIK Interest Notes in a principal amount equal to such interest (the “PIK Payment”). The Company will pay interest semi-annually in arrears on each of May 31 and November 30 of each year, in the case of the Initial Notes, to the Persons who are registered Holders of Notes on the Regular Record Date immediately preceding the applicable Interest Payment Date. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance to but excluding the actual Interest Payment Date. All PIK Interest shall be paid in accordance with Section 314. The Notes shall be redeemable in accordance with their terms and as provided in Article Eleven and shall be subject to Defeasance and Covenant Defeasance as provided in Article Thirteen. The Notes shall have such other terms as are indicated in Annex A.
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PIK Interest Notes means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Section 2.16 hereof, as part of the same series as the Initial Notes. The Notes and the PIK Interest Notes, if any, shall be treated as a single class for all purposes of this Indenture, including, without limitation, Article IX hereof.
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Examples of PIK Interest Notes in a sentence

  • Notwithstanding anything to the contrary, the Company shall not be required to deliver to the Trustee an Officer’s Certificate or Opinion of Counsel in connection with the issuance of any PIK Interest Notes or any increase in principal amount of a Global Note as a result of any PIK Payment.

  • In connection with any PIK Payment, the Company is entitled to, without the consent of the holders (and without regard to any restrictions or limitations set forth under the Indenture including Section 1.10(d) of this Second Supplemental Indenture) to increase the outstanding principal amount of the 2027 Notes or to issue PIK Interest Notes under this Indenture on the same terms and conditions as the 2027 Notes.

  • Any certificated PIK Interest Notes shall be issued with the description “PIK” on the face of such PIK Interest Note.

  • All payments shall be made in lawful money of the United States of America, provided however, that interest hereon may be paid in the form of PIK Interest Notes in the circumstances permitted in the Credit Agreement.

  • All other payments on the Notes shall be made at the office or agency of the Paying Agent designated by the Company in the City and State of New York unless the Company elects to make Cash Interest payments by check, or PIK Payments by PIK Interest Notes that are Definitive Notes, mailed to the Holders at their addresses set forth in the register of Holders.

  • Any PIK Interest Notes issued in certificated form shall be dated as of the applicable Interest Payment Date and shall bear interest from and after such date.

  • All other payments on Notes shall be made at the office or agency of the Paying Agent designated by the Company unless the Company elects to make Cash Interest payments by check, or PIK Payments by PIK Interest Notes mailed to the Holders at their addresses set forth in the register of Holders.

  • PIK Interest will be considered paid on the date due if on such date the Trustee has received (i) an Officers’ Certificate, in accordance with Section 2.02 of the Base Indenture, from the Company to increase the balance of any Global Security to reflect such PIK Interest or (ii) PIK Interest Notes duly executed by the Company together with an Officers’ Certificate, in accordance with Section 2.02 of the Base Indenture, of the Company requesting the authentication of such PIK Interest Notes by the Trustee.

  • PIK Interest payable with respect to any Notes represented by Definitive Notes will be payable by the Company issuing PIK Interest Notes in definitive form in an aggregate principal amount equal to the amount of PIK Interest payable.

  • Subject to the issuance of PIK Interest Notes as described herein, the Notes are in registered form without coupons in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof (or if a PIK Payment has been made, in minimum denominations of $1.00 and any integral multiple of $1.00 in excess thereof).


More Definitions of PIK Interest Notes

PIK Interest Notes means (i) any PIK Interest Note of the Company issued pursuant to paragraph 2 hereof (substantially in the form attached as Exhibit I), (ii) any PIK Interest Notes of the Company issued in payment of any interest accrued on any other PIK Interest Note, (iii) all other notes issued by the Company as payment of interest on the Unsecured Notes or (iv) any notes which may be issued in exchange or substitution for the notes described in clauses (i), (ii) or (iii) above, in whole or in part.
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PIK Interest Notes has the meaning set forth in Section 301 hereof. “PIK Interest Rate” has the meaning set forth in Section 301 hereof. “PIK Payment” has the meaning set forth in Section 301 hereof.‌‌
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PIK Interest Notes means (i) any PIK Interest Note of the Company issued pursuant to Section 2 hereof (substantially in the form attached as Exhibit I), (ii) any PIK Interest Notes of the Company issued in payment of any interest accrued on any other PIK Interest Note, (iii) all other notes issued by the Company as payment of interest on the Junior Subordinated Notes or (iv) any notes which may be issued in exchange or substitution for the notes described in clauses (i), (ii) or (iii) above, in whole or in part.
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PIK Interest Notes has the meaning set forth in Section 301 hereof.
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PIK Interest Notes in a principal amount equal to such interest (the “PIK Payment”). Interest will be payable semi-annually in arrears on May 31 and November 30, beginning on December 2, 2019. Interest on the Notes will accrue from the date of original issuance or, if interest has already been paid, from the date it was most recently paid. Interest will be computed on the basis of a 365-day or 366-day year, as applicable. For the purposes of the Interest Act (Canada), the annual rate of interest in any year during which the Notes are Outstanding which is equivalent to the interest rate under the Indenture shall be determined by multiplying the interest rate provided under the Indenture by a fraction, the numerator of which is the total number of days in such year and the denominator of which is 360. If a payment date is a Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. The Company will pay interest (including post-petition interest in any proceeding under any applicable Bankruptcy Law) on overdue principal and premium, if any, at the interest rate specified in the Notes to the extent lawful; and it will pay interest (including post-petition interest in any proceeding under any applicable Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful; in each case as may be increased pursuant to the terms of Section 1001 of the Indenture.
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Related to PIK Interest Notes

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

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.

  • 2022 Notes means the 4.875% Senior Notes due 2022, originally issued by Rowan Companies, Inc., a Delaware corporation.

  • 2016 Notes means the aggregate principal amount of US$460,000,000 of 4.25% Convertible Senior Notes Due 2016 issued pursuant to the 2016 Note Indenture.

  • 2028 Notes means those 6.500% Senior Notes due 2028 issued by the Borrower in an aggregate principal amount of $400,000,000 pursuant to the 2028 Notes Documents.

  • 2014 Notes means (i) the 4.850% Senior Secured Notes due 2024 issued by the Issuer on March 18, 2014 and (ii) the 4.45% Senior Secured Notes due 2025 and the 5.45% Senior Secured Notes due 2034 issued by the Issuer on August 21, 2014.

  • Trust Notes As defined in the Introductory Statement.

  • 2015 Notes means the 8.375% senior notes due 2015 in the principal amounts of $615 million and €500 million issued pursuant to the 2015 Notes Indenture.

  • Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.

  • MAC Notes The Classes of Modifiable And Combinable STACR® Notes shown on

  • 2011 Notes means those certain notes issued pursuant to the Note Purchase Agreement dated as of March 22, 2011 among the Company and the purchasers named in Schedule A thereto.

  • Fixed Rate Notes Together, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

  • B Notes means each of Note B-1 and Note B-2.

  • Series A Notes is defined in Section 1.

  • Series B Notes is defined in Section 1.

  • PIK Notes means additional Notes issued under this Indenture on the same terms and conditions as the Initial Notes in connection with the payment of PIK Interest.

  • 2021 Notes means the 4.700% Senior Notes due 2021, originally issued by Ensco plc (now Valaris), a public limited company organized under the laws of England and Wales.

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Series D Notes is defined in Section 1.

  • Series 2020 Bonds means the Series 2020A Bonds and the Series 2020B Bonds.

  • Accrued Class B Note Interest means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • 2018 Notes means the Company’s 7.75% Senior Subordinated Notes due 2018 issued under the Indenture dated December 14, 2010 among the Company, Holdings and the subsidiary guarantors from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee.

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • Accrued Class A Note Interest means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.