PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) the sixteenth (16th) Payment Date after the first Borrowing Date and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and the sixteenth (16th) Payment Date after the first Borrowing Date).
PIK Period has the meaning specified in Section 2.09(c).
PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) (A) if only one Borrowing shall be made, the twelfth (12th) Payment Date after the first Borrowing Date, and (B) if more than one Borrowing (other than PIK Borrowings) shall be made, the sixteenth (16th) Payment Date after the first Borrowing Date, and (ii) the date on which any Event of Default shall have occurred (provided that if such Event of Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Event of Default and (x) if only one Borrowing shall be made, the twelfth (12th) Payment Date after the first Borrowing Date), or (y) if more than one Borrowing (other than PIK Borrowings) shall be made, the sixteenth (16th) Payment Date after the first Borrowing Date.
Examples of PIK Period in a sentence
For purposes of clarification, Borrower may only elect to pay interest as provided in this Section 3.02(e) for Interest Periods that are entirely within the PIK Period (such that interest for the entirety of any Interest Period in which a Default has occurred and is continuing for which the Majority Lenders have elected to end the PIK Period must be paid in cash in accordance with Section 3.02(a)).
More Definitions of PIK Period
PIK Period shall have the meaning assigned to such term in Section 2.06(d).
PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (a) the sixteenth (16th) Payment Date after the first Borrowing Date (or if Borrower has achieved the Revenue Milestone, the twenty third (23rd) Payment Date after the first Borrowing Date) and (b) the date on which any Default or Event of Default shall have occurred (provided that if such Default or Event of Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default or Event of Default and the sixteenth (16th) Payment Date (or if Borrower has achieved the Revenue Milestone, the twenty third (23rd) Payment Date) after the first Borrowing Date.
PIK Period means the period beginning on the First Borrowing Date through and including, the earlier to occur of (i) the nineteenth (19th) Payment Date after the First Borrowing Date (i.e., March 31, 2020), and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and the nineteenth (19th) Payment Date after the First Borrowing Date (i.e., March 31, 2020)).”
PIK Period means the period beginning on the Closing Date and ending on the earlier to occur of (i) the sixteenth (16th) Payment Date after the Closing Date and (ii) the date on which any Event of Default shall have occurred (provided that if such Event of Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Event of Default and the sixteenth (16th)Payment Date after the Closing Date).
PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) the twenty fourth (24th) Payment Date after the first Borrowing Date and (ii) the date on which any Default shall have occurred ( provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and the twenty fourth (24th) Payment Date after the first Borrowing Date).”
PIK Period in Section 1.01 of the Loan Agreement shall be amended and restated in its entirety as follows:
PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) (A) the sixteenth (16th) Payment Date after the first Borrowing Date, or (B) upon the completion of a Qualified IPO that raises more than $40,000,000 of gross proceeds at a pre-money valuation of more than $150,000,000, the twentieth (20th) Payment Date after the first Borrowing Date, and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and (A) the sixteenth (16th) Payment Date after the first Borrowing Date, or (B) upon the completion of a Qualified IPO that raises more than $40,000,000 of gross proceeds at a pre-money valuation of more than $150,000,000, the twentieth (20th) Payment Date after the first Borrowing Date).”