PIK Interest Payment definition

PIK Interest Payment has the meaning specified in Section 2.07(c)(ii).
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PIK Interest Payment means the payment of all or a portion of a payment of interest on the Notes by the issuance of additional Notes in accordance with the provisions of Section 1 of the Notes.
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PIK Interest Payment shall have the meaning specified in Section 3(b).
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Examples of PIK Interest Payment in a sentence

  • Perpetual elected to pay the January 23, 2021 semi-annual interest of $1.5 million by a PIK Interest Payment.

  • Following each such increase in the principal amount of the 1.5 Lien Notes as a result of any PIK Interest Payment, the 1.5 Lien Notes will bear interest on such increased principal amount from and after the date of each such PIK Interest Payment.

  • The Company elected to pay the January 23, 2021 and July 23, 2021 semi-annual interest payments by a PIK Interest Payment, which increased the principal amount of the 2025 Senior Notes outstanding to $36.6 million on July 23, 2021.

  • On each interest payment date, the Company may elect to defer and pay in-kind any interest accrued as of such interest payment date by increasing the unpaid principal amount of the 1.5 Lien Notes as at such date (each, a "PIK Interest Payment").

  • The Company satisfied the semi-annual interest payment due July 23, 2021 by making a PIK Interest Payment and accrued $0.8 million of non-cash interest expense for the three months ended March 31, 2021.

  • The Issuer shall notify Bondholders in accordance with Condition 16 and the Trustee by not later than five London business days prior to each PIK Interest Payment Date of the aggregate principal amount of Additional Bonds to be issued on such PIK Interest Payment Date and of the aggregate principal amount of Bonds, as increased by such Additional Bonds.

  • Additional Bonds will have the same terms and conditions in all respects as the Initial Bonds except that interest on Additional Bonds will accrue from (and including) the PIK Interest Payment Date on which the relevant Additional Bonds are issued rather than from the Closing Date.

  • Where the Bonds are not represented by the Global Bond, any Additional Bonds to be issued to a holder will be delivered to such holder upon presentation by such Bondholder of the Bonds held by it on the relevant PIK Interest Payment Date at the specified office of any Paying and Conversion Agent at any time on or after the relevant PIK Interest Payment Date, provided that such date of presentation is a business day in the place of the specified office of the relevant Paying and Conversion Agent.

  • The Company satisfied the semi- annual interest payment due July 23, 2021 by a PIK Interest Payment and accrued $0.8 million of non-cash interest expense for the three months ended March 31, 2021.Total cash finance expense was $1.1 million in the first quarter of 2022, higher than the prior year period (Q1 2021 – negative $0.9 million).

  • The Company elected to pay the January 23, 2021 semi-annual interest of $1.5 million by a PIK Interest Payment, and satisfied the semi-annual interest payment due July 23, 2021 by making a PIK Interest Payment of $1.6 million, increasing the principal amount owing at September 30, 2021 to $36.6 million.


More Definitions of PIK Interest Payment

PIK Interest Payment means the payment of PIK Interest. “PIK Notes” has the meaning set forth in Section 2.01(d) hereof.
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PIK Interest Payment has the meaning given to such term in Exhibit A hereto.
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PIK Interest Payment has the meaning set forth in the Terms and Conditions.
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Related to PIK Interest Payment

  • Interest Payment means, in respect of an interest payment on an Interest Payment Date, the amount of interest payable on the presentation and surrender of the relevant Coupon for the relevant Interest Period in accordance with Condition 4 (Interest Payments);

  • Interest Payments With respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Interest Payment Dates July 1, October 1, January 1 and April 1. Record Dates: June 15, September 15, December 15 and March 15. Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • Special Interest Payment Date has the meaning ascribed to it in Section 2.11 hereof.

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Interest Payment Date when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Floating Rate Interest Payment Date has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.

  • Interest Payment Determination Date means the Interest Accrual Period End Date at the end of each Interest Accrual Period; provided that the Interest Payment Determination Date with respect to the final Interest Accrual Period will be the Rate Cut-off Date.

  • Compensating Interest Payment As defined in Section 6.06.

  • Interest Payable means in respect of the relevant Measurement Period ending on any Measurement Date, the aggregate of:

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

  • Compulsory Interest Payment Date means any Interest Payment Date unless at the Assemblée Générale of the shareholders of the Issuer immediately preceding such date which was required to approve the annual accounts of the Issuer for the fiscal year ended immediately prior to such Assemblée Générale, no resolution was passed to pay a dividend on the ordinary share capital of the Issuer in respect of such previous fiscal year and

  • 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.

  • Last Payment Date means the date for the last payment shown in the Registered Mortgage.