PIK Interest. In accordance with Section 2.09(e), the principal amount of the Loan shall also be increased on each Interest Payment Date by the PIK Interest Amount with respect to such Interest Payment Date unless the Borrower pays such PIK Interest Amount in cash on such Interest Payment Date pursuant to an election to do so in accordance with Section 2.09(e).
Appears in 20 contracts
Samples: Loan and Guarantee Agreement (Sun Country Airlines Holdings, Inc.), Loan and Guarantee Agreement, Loan and Guarantee Agreement
PIK Interest. In accordance with Section 2.09(e), the principal amount of the Loan Loans shall also be increased on each Interest Payment Date by the PIK Interest Amount with respect to such Interest Payment Date unless the Borrower pays such PIK Interest Amount in cash on such Interest Payment Date pursuant to an election to do so in accordance with Section 2.09(e).
Appears in 2 contracts
Samples: Loan and Guarantee Agreement (Mesa Air Group Inc), Loan and Guarantee Agreement
PIK Interest. In accordance with Section 2.09(e)On each Interest Payment Date, the principal amount of the Loan shall also be increased on each Interest Payment Date by an amount equal to the PIK Interest Amount with respect to accrued during the Interest Period immediately preceding such Interest Payment Date unless Date, and PIK Interest and Cash Interest shall thereafter accrue on the Borrower pays principal amount of the Loan as increased by such PIK Interest Amount in cash on such Interest Payment Date pursuant to an election to do so in accordance with Section 2.09(e)Interest.
Appears in 1 contract
Samples: Facility Agreement
