PIK Interest definition

PIK Interest has the meaning specified in Section 2.05(a).

PIK Interest shall have the meaning ascribed to such term in Section 2(a) of this Note.

PIK Interest means interest on the Notes payable by increasing the principal amount of the Notes or by issuing PIK Notes.

Examples of PIK Interest in a sentence

• 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).

• By written notice to the Administrative Agent at least thirty (30) days prior to each Interest Payment Date (or, with respect to the first Interest Payment Date following the Funding Date, on or prior to the Funding Date), the Borrower may elect to pay all of the PIK Interest Amount in respect of such Interest Payment Date in cash on such Interest Payment Date.

• Interest (other than PIK Interest as described below) will be payable in arrears in Dollars on each Interest Payment Date (as defined below).

• If the Borrower does not elect to pay any such PIK Interest Amount in cash as set forth in this clause, such PIK Interest Amount shall be paid by increasing the principal amount of the Loan by an amount equal to such PIK Interest Amount as of the applicable Interest Payment Date.

• By written notice to the Administrative Agent at least thirty (30) days prior to each Interest Payment Date, the Borrower may elect to pay all of the PIK Interest Amount in respect of such Interest Payment Date in cash on such Interest Payment Date.

More Definitions of PIK Interest

PIK Interest means interest accrued on a Loan Asset that is added to the principal amount of such Loan Asset instead of being paid as interest as it accrues.

PIK Interest shall have the meaning set forth in Section 2.11(d).

PIK Interest has the meaning set forth in Section 3;

PIK Interest means interest paid with respect to the Notes in the form of increasing the outstanding principal amount of the Notes or issuing PIK Notes.

PIK Interest means any accrued interest payments on Financing Debt that are postponed or made through the issuance of "payment-in-kind" notes or other similar securities (including book-entry accrual with respect to such postponed interest payments), all in accordance with the terms of such Financing Debt; provided, however, that in no event shall PIK Interest include payments made with cash or Cash Equivalents.

PIK Interest means interest on the Loan Obligations due on any Interest Payment Date, which, at the election of Bxxxxxxx is paid in kind by increasing the principal amount of the outstanding Loans.

PIK Interest means the interest that accrues and is added to the outstanding principal balance of the Loans in accordance with Section 2.06(a)(ii), which shall thereafter be deemed principal bearing interest at the Floating Rate.