Deferred Interest PIK Bond definition

Deferred Interest PIK Bond means a PIK Bond with respect to which payment of interest either in whole or in part has been deferred or capitalized in an amount equal to the amount of interest payable in respect of the lesser of (a) one payment period and (b) a period of six months, but only until such time as payment of interest on such PIK Bond has resumed and all capitalized or deferred interest has been paid in accordance with the terms of the Underlying Instruments.
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Deferred Interest PIK Bond means a PIK Bond with respect to which payment of interest either in whole or in part has been deferred and capitalized for the lesser of (a) one payment period and (b) a period of six months, but only until such time as payment of interest on such PIK Bond has resumed and all capitalized and deferred interest has been paid in accordance with the terms of the Underlying Instruments, including interest on deferred interest. For the purpose of the Overcollateralization Tests only, a PIK Bond with a Moody's Rating of at least "Baa3" will not be a Deferred Interest PIK Bond unless interest either in whole or in part has been deferred and capitalized for the lesser of (x) two consecutive payment periods and (y) a period of one year.
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Deferred Interest PIK Bond means a PIK Bond with respect to which payment of interest either in whole or in part has been deferred and capitalized for each consecutive payment date occurring over a period of at least six months, but only until such time as payment of interest on such PIK Bond has resumed and all capitalized and deferred interest has been paid in accordance with the terms of the Underlying Instruments.
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Examples of Deferred Interest PIK Bond in a sentence

  • In addition, with respect to a Deferred Interest PIK Bond the shortfall of Collateral Interest Collections would adversely affect the Issuer's ability to pay amounts due in respect of the Notes.

  • Defaulted Securities or Deferred Interest PIK Bonds or (ii) Equity Securities plus (d) for each Defaulted Security or Deferred Interest PIK Bond, the Calculation Amount with respect to such Defaulted Security or Deferred Interest PIK Bond.

  • The Collateral Manager shall determine whether any item of Collateral is a Collateral Debt Security, Credit Risk Security, Credit Improved Security, Deferred Interest PIK Bond, Written Down Security or Defaulted Security.

  • The Cashflow Swap Shortfall Amount will not include any portion of the Deferred Shortfall Amount or the Interest Shortfall Amount, as applicable, that is attributable toany item of Portfolio Collateral that has become a Deferred Interest PIK Bond and that has not been sold or disposed of within two years of the date on which such Portfolio Collateral became a Deferred Interest PIK Bond.

  • Moreover, the Issuer will not be permitted to sell a Deferred Interest PIK Bond unless it has become Credit Risk Portfolio Collateral or Defaulted Portfolio Collateral.

  • Subject to another sale pursuant to terms of the Indenture regarding Defaulted Securities, any Credit Risk Obligation, Withholding Security, Written Down Security, Defaulted Security, Impaired CMBS, Impaired RMBS or Deferred Interest PIK Bond will remain subject to the lien of the Indenture if the Disposition Option is not exercised.


More Definitions of Deferred Interest PIK Bond

Deferred Interest PIK Bond means a PIK Bond with respect to which payment of interest either in whole or in part has been deferred and capitalized in an amount equal to the amount of interest payable in respect of the lesser of (a) one payment period and (b) a period of six months, but only until such time as payment of interest on such PIK Bond has resumed and all capitalized and deferred interest has been paid in accordance with the terms of the Underlying Instruments. For the purpose of the Class A/B Overcollateralization Test, the Class C Overcollateralization Test and the Class D Overcollateralization Test only, a PIK Bond with a Moody's Rating of at least "Baa3" will not be a Deferred Interest PIK Bond unless the deferral of payment of interest thereon has occurred for the lesser of (x) two consecutive payment periods and (y) a period of one year.
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Deferred Interest PIK Bond means a PIK Bond with respect to which payment of interest either in whole or in part has been deferred or capitalized in an amount equal to the amount of interest payable in respect of the lesser of (a) one payment period and (b) a period of six months, but only until such time as payment of interest on such PIK Bond has resumed and all capitalized and deferred interest has been paid in accordance with the terms of the Underlying Instruments. For the purposes of the Overcollateralization Tests only, a PIK Bond with a Moody's Rating of at least "Baa3" (and if rated "Baa3", such PIK Bond has not been placed on a watch list for possible downgrade) will not be a
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Related to Deferred Interest PIK Bond

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Floating Rate Interest Payment Date has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.

  • Current Interest Bonds means Bonds of a Series the interest on which is payable at least annually.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Interest Date means, with respect to any given calendar month, the first Trading Day of such calendar month.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Postponed Fixed Interest Date means the tenth Business Day following the originally scheduled Fixed Interest Date;

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Class D Interest Rate means 3.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Floating Rate Notes means the Class A-2b Notes.

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • Special Interest Payment Date has the meaning ascribed to it in Section 2.11 hereof.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Reset Interest Period means each period from (and including) the First Call Date or any Reset Date and ending on (but excluding) the next Reset Date;

  • Net Deferred Interest With respect to each Loan Group and any Distribution Date, the greater of (i) the excess, if any, of the Deferred Interest for the related Due Date over the aggregate amount of any principal prepayments in part or in full received during the related Prepayment Period and (ii) zero.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.