PIK Management Fee definition

PIK Management Fee is defined in Section 8.1(b)(i).
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PIK Management Fee has the meaning given to that term in the Note Purchase Agreement. Principal Debt with respect to a Transferring Finance Party means the principal amount of indebtedness owed to that Transferring Finance Party under the Credit Agreement as at the Completion Date or the principal amount of indebtedness owed to that Transferring Finance Party in respect of the Notes and the Note Purchase Agreement as at the Completion Date, as applicable, in each case excluding:
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PIK Management Fee. The Company shall pay an additional management fee (the "P1K Management Fee") to each holder of Notes to be calculated as a percentage fee on the aggregate outstanding principal amount of the Notes on the date of calculation and shall be calculated quarterly in accordance with the following table showing the ratio of Consolidated Gross Borrowings to Consolidated EBITDA:
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Examples of PIK Management Fee in a sentence

  • Any PIK Management Fee that is payable in respect of any quarter shall accrue interest at 9.25% per annum, which interest shall accrue but shall not be payable until the PIK Management Fee is payable.

  • Any such prepayment shall be at a price equal to 100% of the outstanding principal amount of the Notes being so prepaid plus accrued interest on the amount of such principal, the accrued PIK Management Fee (if any) (together with accrued interest thereon) and the Make-Whole Amount (if any) in respect of such principal amount being so prepaid (subject to deferral pursuant to Section 8.14).

  • Immediately upon the occurrence of a Prepayment Event, the Issuer shall be required to prepay in full all of its Notes, at a price equal to 100% of the outstanding principal amount of the Notes plus accrued interest thereon, the accrued PIK Management Fee (if any) (together with accrued interest thereon) and the Make-Whole Amount (if any) (including all deferred amounts in respect thereof and accrued interest thereon) at the time of such prepayment.

  • The accrual of interest on the PIK Management Fee shall begin as of the quarter-end date shown on the relevant Compliance Certificate.

  • Any PIK Management Fee that is payable in respect of any quarter shall accrue interest at 9.25% per annum, which interest shall accrue but shall not be payable until the P1K Management Fee is payable.

  • The accrual of interest on the PIK Management Fee shall begin as of the quarter-end date shown on the compliance certificate.

  • The accrual of interest on the PIK Management Fee shall begin as of the quarter-end date shown on the Compliance Certificate.