PIK Interest Rate definition

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.

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PIK Interest Rate means 7.5% per annum.

PIK Interest Rate means 2.05% per annum.

Examples of PIK Interest Rate in a sentence

Interest charged at the Term Loan PIK Interest Rate shall be assessed in arrears and added to the principal balance of each Credit Extension on each Interest Payment Date.
Each Term Loan Advance of each Lender shall not exceed its respective Term Commitment plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest Rate added to principal pursuant to Section 2.2(d)(ii).
Notwithstanding the foregoing, Borrowers may elect, on each Payment Date, to pay the interest accruing at the PIK Interest Rate or the Dispensary PIK Interest Rate in cash on such Payment Date if no Default or Event of Default has occurred and is continuing.
In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.1(c)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
Notwithstanding the forgoing, interest shall continue to accrue at the Term Loan PIK Interest Rate as otherwise provided herein until such interest is capitalized and added to principal as provided hereunder.

More Definitions of PIK Interest Rate

PIK Interest Rate shall have the meaning set forth in Section 2.02(a).

PIK Interest Rate means 11.00% per annum.

PIK Interest Rate means 2.50% per annum.

PIK Interest Rate means 9.25% per annum.

PIK Interest Rate means, as of any date, 5.5% per annum.

PIK Interest Rate means the rate of 2.75% per annum. “Platform” shall have the meaning set forth in Section 12.23.

PIK Interest Rate means (i) prior to the Implementation Date, 0.00 per cent. per annum, and (ii) from (and including) the Implementation Date, 0.75 per cent. per annum.