PIK Facility definition

PIK Facility means the facility made available under this Agreement.
Sample 1Sample 2Sample 3
PIK Facility means that certain Credit Agreement, dated as of June 15, 2007, by and among the Parent, as borrower, the lenders party thereto and Credit Suisse, as administrative agent.
Sample 1
PIK Facility means the PIK Facility Credit Agreement, dated November 21, 2018, among the Company, Delaware Trust Company, as Administrative Agent, and the lenders that are party thereto, and including the PIK Loans issued thereunder.
Sample 1

Examples of PIK Facility in a sentence

  • Where a sum is to be paid to the PIK Facility Agent under the PIK Finance Documents for another Party, the PIK Facility Agent is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum.

  • If the Company elects to pay accrued interest in cash, then the Company shall deliver to the PIK Facility Agent no later than ten Business Days prior to such payment date, a written notice setting forth that such interest payment will be made in the form of cash.

  • Any Lender wishing to Exchange its Loans shall so notify the Company and the PIK Facility Agent at least five Business Days prior to the PIK Exchange Date.

  • The PIK Facility Agent shall treat the Sharing Payment as if it had been paid by the Company and distribute it between the Finance Parties (other than the Recovering Finance Party) in accordance with Clause 27.6 (Partial payments).

  • The Company shall give the PIK Facility Agent and the Lenders at least 15 Business Days notice prior to the PIK Exchange Date and include in such notice the relevant details regarding the procedures for completing the Exchange.

  • The Company may request that the Lenders make Loans by delivery to the PIK Facility Agent of a duly completed Utilisation Request not later than the Specified Time (or such later time as the PIK Facility Agent may agree).

  • In the event the Company selects an Interest Period other than six months, the Company shall give the PIK Facility Agent notice of such selection no later than ten Business Days prior to the last Business Day of the then current Interest Period.

  • The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the PIK Facility Agent (for its own account) a fee of €1,500 except no such fee shall be payable in connection with an assignment or transfer to a New Lender upon primary syndication of the PIK Facility.

  • Any interest accruing under this Clause 8.3 shall be immediately capitalised by the Company on demand by the PIK Facility Agent.

  • No fees, costs or expenses are payable by the Company or any other member of the Group under any of the PIK Finance Documents other than as specified in the PIK Facility Fee Letter.


More Definitions of PIK Facility

PIK Facility means the PIK facility agreement dated 6 June 2007, as amended and restated from time to time, between, amongst others, the Company, Accantia Group Holdings Limited and European Capital S.A. SICAR and European Capital Financial Services (Guernsey) Limited as PIK Facility Agent and as Security Agent (each as defined therein);
Sample 1
PIK Facility means the £25 million senior secured PIK facility under an agreement dated February 14, 2013, among MFG, certain subsidiaries of MFG, Fortress Investment Group (UK) Ltd and the Original Lenders listed on Schedule 1 thereto.
Sample 1

Related to PIK Facility

  • Bank Facility means any credit agreement, including the Existing Credit Agreement, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including one or more credit agreements, loan agreements or similar agreements or indentures extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Borrower as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, holders, lender or group of lenders.

  • Bank Facilities means any overdraft limits or credit facility available to you and their associated terms;

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Bridge Facility means the Commitments and any Advances made thereunder.

  • Debt Facility means any Senior Facility and any Second Priority Debt Facility.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • Total Facility has the meaning specified in Section 1.1.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Initial Revolving Facility means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Term Facility means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time.

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Credit Agreement Refinancing Indebtedness means (a) Permitted First Priority Refinancing Debt, (b) Permitted Junior Lien Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) Indebtedness incurred or Other Revolving Commitments obtained pursuant to a Refinancing Amendment, in each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part, existing Term Loans, outstanding Revolving Loans or (in the case of Other Revolving Commitments obtained pursuant to a Refinancing Amendment) Revolving Commitments, outstanding loans under any Incremental Revolving Facility or undrawn commitments under any Incremental Revolving Facility (“Refinanced Debt”); provided that (i) such extending, renewing, replacing or refinancing Indebtedness (including, if such Indebtedness includes any Other Revolving Commitments, the unused portion of such Other Revolving Commitments) is in an original aggregate principal amount not greater than the sum of the aggregate principal amount of the Refinanced Debt (and, in the case of Refinanced Debt consisting, in whole or in part, of unused commitments under any Incremental Revolving Facility or Other Revolving Commitments, the amount thereof) plus all accrued and unpaid interest and fees thereon and expenses incurred in connection with such extension, renewal, replacement or refinancing, (ii) such Indebtedness has a maturity that is equal to or later than and, except in the case of Other Revolving Commitments, a Weighted Average Life to Maturity equal to or greater than the Refinanced Debt, and (iii) such Refinanced Debt shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees and premiums (if any) in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained; provided that to the extent that such Refinanced Debt consists, in whole or in part, of commitments under any Incremental Revolving Facility or Other Revolving Commitments (or loans incurred pursuant to any Incremental Revolving Facility or Other Revolving Loans), such commitments shall be terminated, and all accrued fees in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained.

  • Incremental Facility has the meaning specified in Section 2.16(a).