PIK Margin definition

PIK Margin means 0.75% per annum.

PIK Margin means 5.50 per cent.

PIK Margin means seven per cent. (7%) per annum.

Examples of PIK Margin in a sentence

• If the applicable Test Condition is not met on a subsequent Test Date, the PIK Margin shall decrease to 0.500% per annum with effect from the date falling three months after such subsequent Test Date.Cash Interest and PIK Interest (to the extent applicable) shall accrue from the last date on which interest was paid.

• In addition to the Cash Interest, a further amount of interest shall accrue on each Note for each Interest Period from (but excluding) the Issue Date up to (and including) the relevant Redemption Date with an amount equal to the applicable PIK Margin applied to the Nominal Interest Amount (the "PIK Interest").

• Fixed Rate, comprising 3.000% cash interest (“ Cash Interest”) and 0.500% (the “PIK Margin”) payment-in-kind interest (the “PIK Interest”), provided that the PIK Margin shall increase to 1.500% in the circumstances described in paragraph 14 below.

• Subject to the terms of this paragraph (b), the Issuer shall pay interest on the outstanding principal amount of the Notes at a rate equal to the aggregate of (x) 10.0% per annum (the " Cash Margin"), and (y) 10.0% per annum (the "PIK Margin") (the aggregate thereof being the "Applicable Rate").

• If a Step Up Event occurs, the base PIK Margin as of the Issue Date shall be 4.25% (plus any increase that may occur as a result of any PIK Toggle Option for any applicable Interest Period).

More Definitions of PIK Margin

PIK Margin means the Facility A PIK Margin or the Facility A1 PIK Margin, as applicable.

PIK Margin means 2.0 per cent. per annum.

PIK Margin means 2.00 percentage points; provided, however, that if, as of any fiscal quarter of Parent commencing on or after Parent's fiscal year ended December 31, 2002, (i) the Term Loan Designee delivers to Agent and Parent the PIK Margin Adjustment Request, (ii) Agent does not dispute the calculations set forth in the PIK Margin Adjustment Request, and (iii) Leverage Ratio as of the last day of the immediately preceding 12-month period equals or is less than the following amount, then commencing on the first day of the fiscal month of Parent next following the receipt of the PIK Margin Adjustment Request, "PIK Margin" shall have the meaning as set forth in the following table. The determination of Leverage Ratio for purposes of this definition shall be based upon (x) in the case of each month of each of Parent's fiscal years, other than the last month thereof, the internal financial statements delivered to Agent pursuant to Section 6.3(a) and accompanied by a Compliance Certificate showing the calculation of Leverage Ratio; and (y) in the case of the last fiscal month of each of Parent's fiscal years, the fiscal year end audited financial statements delivered to Agent pursuant to Section 6.3(b). Notwithstanding the foregoing, if Parent fails to deliver to Agent the financial statements required pursuant to Section 6.3, then for any such fiscal quarter the "PIK Margin" shall mean 2.00 percentage points. ------------------------------------------------------------------------ Leverage Ratio PIK Margin means: ------------------------------------------------------------------------ less than 2.7:1 1.00 percentage points ------------------------------------------------------------------------ less than 2.5:1 0.00 percentage points ------------------------------------------------------------------------

PIK Margin shall have the meaning as set forth in the following table. The determination of Leverage Ratio for purposes of this definition shall be based upon (x) in the case of each month of each of Parent's fiscal years, other than the last month thereof, the internal financial statements delivered to Agent pursuant to Section 6.3(a) and accompanied by a Compliance Certificate showing the calculation of Leverage Ratio; and (y) in the case of the last fiscal month of each of Parent's fiscal years, the fiscal year end audited financial statements delivered to Agent pursuant to Section 6.3(b). Notwithstanding the foregoing, if Parent fails to deliver to Agent the financial statements required pursuant to Section 6.3, then for any such fiscal quarter the "PIK Margin" shall mean 2.00 percentage points. ------------------------------------------------------------------------ Leverage Ratio PIK Margin means: ------------------------------------------------------------------------ less than 2.7:1 1.00 percentage points ------------------------------------------------------------------------ less than 2.5:1 0.00 percentage points ------------------------------------------------------------------------

PIK Margin. 75 basis points per annum.

PIK Margin means 2.00 percentage points; provided, however, that if, as of Borrower’s fiscal year ended Mxxxx 00, 0000, XXXXXX for the immediately preceding 12-month period equals or exceeds $14,700,000, then commencing on the first day of the fiscal month of Borrower next following the receipt of Borrower’s audited financial statements for its fiscal year ended March 31, 2006, “PIK Margin” shall mean 1.00 percentage point, any such reduction in the PIK Margin to be effective as of April 1, 2006.

PIK Margin means 2.00 per cent. per annum.";