{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [9, 18]}], "samples": [{"hash": "a4vefrIfqNx", "uri": "/contracts/a4vefrIfqNx#pik-rate", "label": "Senior Secured Credit Agreement (Bright Mountain Media, Inc.)", "score": 34.3141670227, "published": true}, {"hash": "bOwnpCWqGVE", "uri": "/contracts/bOwnpCWqGVE#pik-rate", "label": "Senior Secured Credit Agreement (Bright Mountain Media, Inc.)", "score": 34.1252555847, "published": true}, {"hash": "3L88TfFF0NM", "uri": "/contracts/3L88TfFF0NM#pik-rate", "label": "Senior Secured Credit Agreement (Bright Mountain Media, Inc.)", "score": 33.5284042358, "published": true}], "snippet": "means 4% per annum.", "size": 8, "hash": "bd0209ee8fc815b75a02b3656f6c7124", "id": 1}, {"snippet_links": [{"key": "preferential-dividend-rate", "type": "definition", "offset": [10, 36]}], "samples": [{"hash": "8KODWbuHZqK", "uri": "/contracts/8KODWbuHZqK#pik-rate", "label": "Investment 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"Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)", "score": 34.3716621399, "published": true}, {"hash": "eGh3WnkFFlN", "uri": "/contracts/eGh3WnkFFlN#pik-rate", "label": "Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)", "score": 34.2429847717, "published": true}, {"hash": "7EK0U4dnadJ", "uri": "/contracts/7EK0U4dnadJ#pik-rate", "label": "Term Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)", "score": 34.2429847717, "published": true}], "snippet": "means the per annum rate equal to (a) Adjusted Term SOFR, plus (b) the Applicable Margin, minus (c) 10% per annum.", "size": 4, "hash": "3820bf286024348cdf37edc4e303b588", "id": 3}, {"snippet_links": [{"key": "preferential-dividend-rate", "type": "definition", "offset": [10, 36]}], "samples": [{"hash": "f6Ze07ya7Dg", "uri": "/contracts/f6Ze07ya7Dg#pik-rate", "label": "Investment Agreement (Cepton, Inc.)", "score": 33.8186187744, "published": true}, {"hash": "5c9oQXbIZR0", "uri": "https://www.sec.gov/Archives/edgar/data/1498233/000121390025001480/ea022693601ex3-1_cepton.htm", "label": "Certificate of Incorporation (Cepton, Inc.)", "score": 24.0171108246, "published": false}, {"hash": "dYoHm6roQQk", "uri": "https://www.sec.gov/Archives/edgar/data/1498233/000121390023004588/ea171666ex3-1_ceptoninc.htm", "label": "Cepton, Inc.", "score": 18.062286377, "published": false}], "snippet": "means the Preferential Dividend Rate plus 1.00%.", "size": 4, "hash": "d4354389ed5e9630296db6a450e8798c", "id": 4}, {"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [13, 22]}, {"key": "equal-to", "type": "definition", "offset": [23, 31]}], "samples": [{"hash": "hh3VcgDUjV7", "uri": "/contracts/hh3VcgDUjV7#pik-rate", "label": "Financing Agreement (Wmi Holdings Corp.)", "score": 23.2313480377, "published": true}, {"hash": "1510tYLJ3tx", "uri": "/contracts/1510tYLJ3tx#pik-rate", "label": "Financing Agreement (Washington Mutual, Inc)", "score": 22.954826355, "published": true}], "snippet": "means a rate per annum equal to 1.0%.", "size": 4, "hash": "ed7e8b76eaa9ae6308b915cd99e28b0e", "id": 5}, {"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [12, 21]}], "samples": [{"hash": "kipyAOXWquq", "uri": "/contracts/kipyAOXWquq#pik-rate", "label": "Loan and Security Agreement (Viewray Inc)", "score": 26.0759754181, "published": true}, {"hash": "jVq7YDyZnBY", "uri": "/contracts/jVq7YDyZnBY#pik-rate", "label": "Loan and Security Agreement (Viewray Inc)", "score": 25.9911022186, "published": true}, {"hash": "4VlThuNuB8i", "uri": "/contracts/4VlThuNuB8i#pik-rate", "label": "Second Lien Credit Agreement (Tecumseh Products Co)", "score": 18.0, "published": true}], "snippet": "means 1.50% per annum.", "size": 3, "hash": "053650e39bc7f4cc71403cdf9439d157", "id": 6}, {"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [21, 30]}, {"key": "rate-of-interest", "type": "definition", "offset": [31, 47]}, {"key": "equal-to", "type": "definition", "offset": [48, 56]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [61, 83]}, {"key": "arr-ratio", "type": "definition", "offset": [110, 119]}, {"key": "last-date-of", "type": "definition", "offset": [130, 142]}, {"key": "calendar-quarter", "type": "definition", "offset": [147, 163]}], "samples": [{"hash": "39HCBjcr4dj", "uri": "/contracts/39HCBjcr4dj#pik-rate", "label": "Loan and Security Agreement (Asure Software Inc)", "score": 32.7070503235, "published": true}, {"hash": "OOrdbhOOlb", "uri": "https://www.sec.gov/Archives/edgar/data/884144/000088414421000007/a20210630exhibit101.htm", "label": "Asure Software Inc", "score": 16.603012085, "published": false}, {"hash": "8y8E1dbbRiV", "uri": "https://investor.asuresoftware.com/static-files/1cd175e3-881d-4cb0-873d-1b1f6b59d94b", "label": "investor.asuresoftware.com", "score": 10.8015060425, "published": false}], "snippet": "means for any day, a per annum rate of interest equal to (a) as of the Closing Date, 1.00% and (b) (i) if the ARR Ratio as of the last date of any calendar quarter is less than 0.55 to 1.00, one percent (1.00%) and (ii) if the ARR Ratio as of the last date of any calendar quarter is 0.55 to 1.00 or greater, one and one-quarter of one percent (1.25%).", "size": 3, "hash": "403906792371169a333a47969e91cc9b", "id": 7}, {"snippet_links": [], "samples": [{"hash": "6bACQ27shlD", "uri": "/contracts/6bACQ27shlD#pik-rate", "label": "Senior Secured Term Loan Credit Agreement (Pacific Ethanol, Inc.)", "score": 26.0924034119, "published": true}, {"hash": "p0xqfYAW0C", "uri": "/contracts/p0xqfYAW0C#pik-rate", "label": "Senior Secured Term Loan Credit Agreement (Aventine Renewable Energy Holdings Inc)", "score": 23.7378501892, "published": true}], "snippet": "has the meaning specified in Section 2.05(a)(ii).", "size": 3, "hash": "855dae08133381cc3d80762f8308c39d", "id": 8}, {"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [7, 16]}, {"key": "equal-to", "type": "definition", "offset": [17, 25]}], "samples": [{"hash": "luijhItdhle", "uri": "/contracts/luijhItdhle#pik-rate", "label": "Credit Agreement (Sba Communications Corp)", "score": 21.0, "published": true}, {"hash": "fFwoWEHPKA3", "uri": "/contracts/fFwoWEHPKA3#pik-rate", "label": "Credit Agreement (Sba Communications Corp)", "score": 18.0, "published": true}], "snippet": "a rate per annum equal to 3.50%.", "size": 3, "hash": "9db14f84dc618b79051a87409efab6dd", "id": 9}, {"snippet_links": [{"key": "per-annum", "type": "definition", "offset": [3, 12]}], "samples": [{"hash": "bHIH0Dharpr", "uri": "/contracts/bHIH0Dharpr#pik-rate", "label": "Credit Agreement (New Fortress Energy Inc.)", "score": 34.1868591309, "published": true}, {"hash": "3RIpfvFUVNW", "uri": "/contracts/3RIpfvFUVNW#pik-rate", "label": "Credit Agreement (New Fortress Energy Inc.)", "score": 34.1868591309, "published": true}], "snippet": "2% per annum.", "size": 2, "hash": "79d1c8ea3b018f508cc7a5810b109e18", "id": 10}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIRcGlrLXJhdGUjMDAwMDAwMGEMogECZW4YACAA", "definition": {"title": "PIK Rate", "snippet": "means 4% per annum.", "size": 74, "id": "pik-rate", "examples": ["The Loans shall bear interest at a per annum rate equal the Applicable <strong>PIK Rate</strong> which shall accrue and be paid in kind, by being added to the principal balance of the outstanding Loans on the last day of each calendar quarter, beginning on June 30, 2016, or, if such day is not a Business Day, the first Business Day immediately following such last day of the calendar quarter (each such date, an \u201cInterest Payment Date\u201d).", "The rate of interest on the Loan is the percentage rate per annum which is the <strong>PIK Rate</strong> (the \u201cPIK Interest\u201d), provided that such rate may be increased as specified in Clause 22.1 (Completion and Operation) in respect of the period specified in such Clause.", "Until such time as the Borrower notifies the Administrative Agent in writing that it is electing the Cash Rate, the Borrower will be deemed to have elected the <strong>PIK Rate</strong> for the Term Loan B.", "In addition, the outstanding principal amount of each Restatement Date Incremental Term Loan shall accrue interest from and after the Restatement Date at a per annum rate equal to the Applicable <strong>PIK Rate</strong>, which amount shall be paid-in-kind, by being added to the principal balance of the Restatement Date Incremental Term Loans (inclusive of any PIK Amount theretofore so added) on each Payment Date commencing on the first Payment Date following its Funding Date.", "Any and all amounts of interest accrued at the <strong>PIK Rate</strong> shall be added to the Outstanding Principal Balance as of each Payment Date and interest shall accrue thereon from the date on which such amounts are added to the Outstanding Principal Balance.", "Interest paid in the form of PIK Loans shall be paid at the <strong>PIK Rate</strong> and not the Applicable Rate.", "All computations of interest at the <strong>PIK Rate</strong> shall be based on a year of three hundred sixty (360) days with interest computed daily based on the actual number of days elapsed and shall be added to the Outstanding Principal Balance as of each Payment Date.", "By way of example only, if the Prevailing <strong>PIK Rate</strong> was 1.25% and the ARR Ratio for the quarter ending December 31, 2021 is determined to be less than 0.55:1.00 based on the Company\u2019s financial statements filed with its report on Form 10-K on March 10, 2022, then (A) the PIK Adjustment Date shall be April 1, 2022 and (B) the New <strong>PIK Rate</strong> shall be 1.00% (which is the <strong>PIK Rate</strong> corresponding to the ARR Ratio that is less than 0.55:1.00).", "Interest shall also be paid in cash (i) on the date of any payment or prepayment of the Term Loan (on the amount so paid or prepaid) (other than interest payable at the <strong>PIK Rate</strong>) and (ii) on the Termination Date.", "Section 1.01 of the Financing Agreement is hereby amended by deleting the definition of &quot;<strong>PIK Rate</strong>&quot; in its entirety."], "related": [["pik-interest-rate", "PIK Interest Rate", "PIK Interest Rate"], ["bank-rate", "Bank Rate", "Bank Rate"], ["term-\u2587\u2587\u2587\u2587\u2587-reference-rate", "Term \u2587\u2587\u2587\u2587\u2587 Reference Rate", "Term \u2587\u2587\u2587\u2587\u2587 Reference Rate"], ["cb-floating-rate", "CB Floating Rate", "CB Floating Rate"], ["libor-applicable-margin", "LIBOR Applicable Margin", "LIBOR Applicable Margin"]], "related_snippets": [], "updated": "2025-11-23T05:25:16+00:00"}, "json": true, "cursor": ""}}