Examples of PIK Shares in a sentence

The Company covenants that all Conversion Shares and PIK Shares shall, when issued, be duly authorized, validly issued, fully paid and nonassessable.
These transactions increased pro forma liquidity by approximately $116 million as of the transaction dates, and had the potential to reduce Cash interest payments up to approximately $109 million per year, or approximately $433 million through maturity, with the option to pay interest PIK Shares or PIK Notes on the 1.5 Lien Notes and 1.75 Lien Term Loan Facility.
The Debtors utilized the ability to make interest payments on the 1.75 Lien Term Loan Facility in PIK Shares and issued 2.7 million PIK Shares in June 2017.
In March 2017, the Debtors issued approximately $300 million in 1.5 Lien Notes that included the option to pay interest in PIK Shares or PIK Notes.
The Debtors also exchanged $683 million of Second Lien Term Loans for a like amount of loans under the 1.75 Lien Term Loan Facility that also included the option to pay interest in PIK Shares or PIK Notes.

More Definitions of PIK Shares

PIK Shares means any shares of Series B Common Stock issued at the option of the Company, in lieu of a cash dividend otherwise required to be paid, under the terms of the Series B Common Stock.

PIK Shares means any Shares issued in lieu of cash dividends pursuant to the Certificate of Designations.

PIK Shares has the meaning ascribed to such term in the Certificate of Designation.

PIK Shares means any shares of Preferred Stock issued as ---------- payment in kind dividends to any holder of shares of Preferred Stock.

PIK Shares shall have the meaning set forth in Section 5.01(a).

PIK Shares has the meaning set forth in Section A.2.a.i of Article Fifth.

PIK Shares shall have the meaning set forth in the fifteenth ---------- Recital.