Examples of PIK Securities in a sentence
The Issuer shall be entitled to issue PIK Securities as interest on the PIK Notes.
The PIK Notes issued on the Initial Issue Date and any such PIK Securities and any other PIK Notes issued under the PIK Notes Indenture shall be treated as single class for all purposes under the PIK Notes Indenture.
The PIK Notes have been issued only in fully registered form without interest coupons in minimum denominations of$75,000 (except in the case of PIK Securities) and integral multiples of $1.00 in excess thereof.
Any PIK Payment shall be considered paid on the date it is due if on such date (1) if PIK Securities (including Securities that are Global Securities) have been issued therefore, such PIK Securities have been authenticated in accordance with the terms of this Indenture and (2) if the PIK Payment is made by increasing the principal amount of Global Securities then authenticated, the Trustee has increased the principal amount of Global Securities then authenticated by the required amount.
Any certificated PIK Securities will be issued with the description “PIK” on the face of such PIK Security.