Issuance of PIK Notes Sample Clauses

Issuance of PIK Notes. The Company shall be entitled to issue PIK Notes as provided in Section 4.01 hereof. With respect to such PIK Notes, the Company shall deliver to the Trustee: (a) no later than the record date for the relevant Interest Payment Date, a written notice setting forth the extent to which such interest will be made in the form of a PIK Note or Notes; and (b) not later than one Business Day prior to the relevant Interest Payment Date, an order to authenticate and deliver such PIK Notes. Any PIK Note shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to the Holders as of the relevant record date at such Holders' registered address if the Notes are then held in the form of Definitive Notes, or (ii) deposited with or on behalf of DTC for the benefit of the Beneficial Owners as of the relevant record date if the Notes are held in the form of a Global Note.
Sample 1
Issuance of PIK Notes. (A) In connection with any payment of interest in respect of the Notes that the Company is required pursuant to Section 2.05 to effect payment of the portion of Stated Interest payable in the form of PIK Interest, the Company shall, without the consent of the Holders of the Notes, make such payment of PIK Interest by increasing the principal amount of the Global Notes to reflect such PIK Interest payable on such Global Notes or by issuing additional Physical Notes to Holders of Physical Notes to reflect such PIK Interest payable on such Physical Notes (the “PIK Notes”) under this Indenture on the same terms and conditions as the Notes (in each case, a “PIK Payment”); and upon any PIK Payment being so effected, such portion of Stated Interest shall be deemed to have been paid in full; provided that any such amount of PIK Interest shall be rounded up to the nearest $1.00; provided further that in the case of any PIK Payment on a Global Note, the Company shall deliver a Company Order to the Trustee and the Trustee shall, upon receipt of such a Company Order, increase the principal amount of such Global Note by such PIK Payment. The Initial Notes and any PIK Notes shall be treated as a single class for all purposes under this Indenture, including directions, waivers, amendments, consents, liquidating distributions and offers to purchase, and none of the Holders of any Initial Notes or any PIK Notes shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. Any PIK Payment made with respect to an unrestricted Note shall be in the form of (i) with respect to owners of beneficial interests in an unrestricted Global Note, an increase of the principal amount of such unrestricted Global Note or (ii) with respect to Holders of unrestricted Physical Notes, by issuance of new unrestricted Physical Notes. Following an increase in the principal amount of the outstanding Global Notes as a result of a PIK Payment, the Global Notes shall bear interest on such increased principal amount from and after the date of such PIK Payment. Any PIK Notes issued as Physical Notes shall be dated as of the applicable Interest Payment Date and shall bear interest from and after such date. All PIK Notes issued pursuant to a PIK Payment shall be governed by, and subject to the terms, provisions and conditions of, this Indenture and shall have the same rights and benefits as the Notes issued on the Issue Date. (B) With res...
Sample 1
Issuance of PIK Notes. (a) Until the first Interest Payment Date that occurs 91 days after the Senior Credit Facility Termination Date, the Company shall issue PIK Notes under this Indenture in lieu of the payment of interest in cash on the Notes, which PIK Notes shall have identical terms as the Notes in respect of which such PIK Notes are being issued; provided, however, that: (i) the aggregate principal amount of PIK Notes issued with respect to any interest payment may not exceed the aggregate amount of interest then due and payable; and (ii) the Company may not pay interest in cash on Notes while any First Priority Secured Obligations remain outstanding. (b) With respect to any PIK Notes, the Company shall deliver to the Trustee: (i) no later than the Record Date for the relevant Interest Payment Date (which Interest Payment Date shall be prior to the Maturity Date for the Notes), a written notice setting forth the amount of interest to be paid by issuing PIK Notes; and (ii) no later than one Business Day prior to the relevant Interest Payment Date, Authentication Order with respect to such PIK Notes and deliver such PIK Notes if the Notes are in certificated form. (c) Any PIK Notes shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to the Holders as of the relevant Record Date at such Holders’ registered address if the Notes are then held in the form of certificated Notes or (ii) deposited with or on behalf of the Depository for the benefit of the Beneficial Owners of the Notes as of the relevant Record Date if the Notes are held in global form.
Sample 1
Issuance of PIK Notes. The Issuers shall be entitled to issue PIK Notes under this Indenture which shall have identical terms as the Notes issued on the Issue Date. The Notes issued on the Issue Date and any PIK Notes shall be treated as a single class for all purposes under this Indenture. With respect to any PIK Notes, the Issuers shall deliver to the Trustee and the Paying Agent: (1) no later than the Record Date for the relevant Interest Payment Date, a written notice setting forth the extent to which such interest payment will be made in the form of cash, if an election is made to pay in cash, and if no such election is made, such interest payment shall otherwise be payable in PIK Notes; and (2) no later than two Business Days prior to the relevant Interest Payment Date, (i) with respect to the Notes that are in definitive form, the required amount of new definitive PIK Notes and an order to authenticate and deliver such PIK Notes to the registered Holder of the definitive Notes or (ii) with respect to Notes that are in global form, an order to increase the principal amount of such Global Notes by the relevant amount (or, if necessary, to authenticate a new Global Note executed by the Issuers with such increased principal amounts). Any PIK Notes shall, after being executed and authenticated pursuant to Section 2.02, be (i) mailed to the person entitled thereto as shown on the register for the definitive Notes as of the relevant Record Date or (ii) deposited into the account specified by the Holder or Holders thereof as of the relevant Record Date if the Notes are held in global form or otherwise according to the procedures of the Depositary. Alternatively, the Issuers may direct the Paying Agent to make the appropriate amendments to the schedule of principal amounts of the relevant Notes outstanding and arrange for deposit into the account specified by the Holder or Holders thereof as of the relevant Record Date. Payment shall be made in such form and upon such terms as specified herein and the Issuers shall and Paying Agent may take additional steps as is necessary to effect such payment.
Sample 1
Issuance of PIK Notes. (a) The Issuer shall be entitled to issue PIK Notes under this Indenture as interest on the Notes in accordance with Section 2.14(b) hereof without the consent of the Holders. (b) Except as provided in this Section 2.14(b) and the definition of “Applicable Amount” set forth in Section 2.14(c) hereof, interest on the Notes shall be payable entirely in Cash Interest. Interest payable on the Notes on each of the first Interest Period and the final Interest Period ending at stated maturity shall be paid entirely in Cash Interest. For any Interest Period after the initial Interest Period (other than the final Interest Period ending at stated maturity), if the Applicable Amount as determined on the Determination Date for such Interest Period shall: (i) equal or exceed 75%, but be less than 100%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant Interest Payment Date, then the Issuer may, at its option, elect to pay interest on (a) 25% of the then outstanding principal amount of the Notes as PIK Interest and (b) 75% of the then outstanding principal amount of the Notes as Cash Interest; (ii) equal or exceed 50%, but be less than 75%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant Interest Payment Date, then the Issuer may, at its option, elect to pay interest on (a) 50% of the then outstanding principal amount of the Notes as PIK Interest and (b) 50% of the then outstanding principal amount of the Notes as Cash Interest; (iii) equal or exceed 25%, but be less than 50%, of the aggregate amount of Cash Interest that would otherwise be due on the relevant Interest Payment Date, then the Issuer may, at its option, elect to pay interest on (a) 75% of the then outstanding principal amount of the Notes as PIK Interest and (b) 25% of the then outstanding principal amount of the Notes as Cash Interest; or (iv) be less than 25% of the aggregate amount of Cash Interest that would otherwise be due on the relevant Interest Payment Date, then the Issuer may, at its option, elect to pay interest on the Notes entirely as PIK Interest. The insufficiency or lack of funds available to the Issuer to pay Cash Interest as required by this Section 2.14(b) shall not permit the Issuer to pay PIK Interest in respect of any Interest Period and the sole right of the Issuer to elect to pay PIK Interest shall be as (and to the extent) provided in this Section 2.14(b). (c) As used in this Indenture,
Sample 1
Issuance of PIK Notes. The Company shall pay interest on the Notes in cash and by issuing PIK Notes on the terms and in the amounts set forth in the Notes. No later than one Business Day prior to the relevant interest payment date, the Company shall deliver an Authentication Order to the Trustee to authenticate and deliver the PIK Notes. PIK Notes shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to such Holders as of the relevant record date at such Holders’ registered address that hold Definitive Notes or (ii) deposited with or on behalf of the Depositary for the benefit of the beneficial owners of the Notes as of the relevant record date with respect to Global Notes. All PIK Notes will mature on the same date as the Initial Notes and will be governed by, and subject to the terms, provisions and conditions of, this Indenture and will have the same rights and benefits as the Initial Notes. The payment of accrued interest in connection with any redemption or repurchase of Notes as described in Section 3.07, 4.06 or 4.10 shall be made solely in cash.
Sample 1
Issuance of PIK Notes. The Company shall be entitled to issue PIK Notes under this Indenture which shall have identical terms as the Initial Notes. The Initial Notes and any PIK Notes shall be treated as a single class for all purposes under this Indenture. With respect to any PIK Notes, the Company shall deliver to the Trustee: (1) no later than the record date for the relevant interest payment date, a written notice setting forth the extent to which such interest payment will be made in the form of PIK interest; and (2) no later than one Business Day prior to the relevant interest payment date, an order to authenticate and deliver such PIK Notes. Any PIK Notes shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to such Holders as of the relevant record date at such Holders’ registered address that hold Notes in the form of Physical Notes, or (ii) deposited with or on behalf of DTC for the benefit of the beneficial owners of the Notes as of the relevant record date with respect to the Notes that are held in Global form.
Sample 1
Issuance of PIK Notes. At all times, PIK Interest on the Notes will be payable by issuing PIK Notes in certificated form in an aggregate principal amount equal to the amount of PIK Interest for the applicable interest period (rounded down to the nearest whole dollar), and the Company will execute and deliver such PIK Notes in certificated form for original issuance to the Holder of this Note on the first Interest payment date of each calendar year. Between the annual issuance of PIK Notes, the Company shall maintain book-entry notation of the PIK Notes issuable to the Holder of this Note on each Interest payment date. The Company agrees to provide certification to the Holder of the accrued and unissued PIK Notes at any time upon the written request of the Holder. Any PIK Notes issued in certificated form will be dated as of the date of issuance, will bear interest from the date of each book-entry or physical issuance of PIK Notes (i.e. from each quarterly Interest payment date for which PIK Notes are accrued), at the Interest Rate specified in this Note. All PIK Notes issued pursuant to a PIK Payment will mature on the Maturity Date and will be governed by, and subject to the terms, provisions and conditions of, the Note Purchase Agreement and otherwise on terms identical to this Note (other than initial Principal amount), and shall have the same rights and benefits as the Notes. Any certificated PIK Notes will be issued with the description “PIK” on the face of such PIK Note.
Sample 1
Issuance of PIK Notes. With respect to any PIK Notes required to be issued in connection with the payment of Additional PIK Interest, the Company shall deliver to the Trustee, no later than one Business Day prior to the relevant Interest Payment Date an order to authenticate and deliver such PIK Notes. Any PIK Notes shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to the Holders as of the relevant record date at such Holders’ registered address if the Notes are then held in the form of Physical Notes or (ii) deposited with or on behalf of the Depository for the benefit of the beneficial owners of the Notes as of the relevant record date if the Notes are held in the form of Global Notes.
Sample 1

Related to Issuance of PIK Notes

  • Issuance of Additional Notes The Issuers shall be entitled, subject to their compliance with Section 4.09, to issue Additional Notes under this Indenture which shall have identical terms as the Initial Notes issued on the Initial Issuance Date, other than with respect to the date of issuance, issue price and the date from which interest begins to accrue. The Initial Notes issued on the Initial Issuance Date, any Additional Notes and all Exchange Notes issued in exchange therefor shall be treated as a single class for all purposes under this Indenture, including, without limitation, waivers, consents, directions, declarations, amendments, redemptions and offers to purchase. With respect to any Additional Notes, the Issuers shall set forth in an Officers’ Certificate, which shall be delivered to the Trustee, the following information: (1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; (2) the issue price, the issue date and the CUSIP number and any corresponding ISIN of such Additional Notes; and (3) whether such Additional Notes shall be Transfer Restricted Securities and issued in the form of Initial Notes as set forth in Exhibit 1 to the Appendix to this Indenture or shall be issued in the form of Exchange Notes as set forth in Exhibit A to the Appendix.

  • Issuance of Notes The Owner Trustee is hereby authorized and directed on behalf of the Trust to execute, issue and deliver the Notes pursuant to the Indenture.

  • Issuance of Additional Securities Such Grantor will not permit or suffer the issuer of an Equity Interest constituting Pledged Collateral owned by it to issue additional Equity Interests, any right to receive the same or any right to receive earnings, except to such Grantor.

  • Upon Issuance of Additional Securities Upon the issuance by the General Partner of any Additional Securities (including pursuant to the General Partner’s distribution reinvestment plan) other than to all holders of REIT Shares, the General Partner shall contribute any net proceeds from the issuance of such Additional Securities and from any exercise of rights contained in such Additional Securities, directly and through the General Partner, to the Partnership in return for, as the General Partner may designate, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership having designations, preferences and other rights such that their economic interests are substantially similar to those of the Additional Securities; provided, however, that the General Partner is allowed to issue Additional Securities in connection with an acquisition of assets that would not be owned directly or indirectly by the Partnership, but if and only if, such acquisition and issuance of Additional Securities have been approved and determined to be in or not opposed to the best interests of the General Partner and the Partnership; provided further, that the General Partner is allowed to use net proceeds from the issuance and sale of such Additional Securities to repurchase REIT Shares pursuant to a share repurchase plan. Without limiting the foregoing, the General Partner is expressly authorized to issue Additional Securities for less than fair market value, and to cause the Partnership to issue to the General Partner corresponding Partnership Interests, so long as the General Partner concludes in good faith that such issuance is in the best interests of the General Partner and the Partnership. Without limiting the foregoing, if the General Partner issues REIT Shares of any Class for a cash purchase price and contributes all of the net proceeds of such issuance to the Partnership as required hereunder, the General Partner shall be issued a number of additional Partnership Units having the same Class designation as the issued REIT Shares equal to the number of such REIT Shares of that Class issued by the General Partner the proceeds of which were so contributed.

  • Issuance of Payments Payments shall be delivered as follows: (i) All payments owed to Balabbo, pursuant to § 3.1 shall be delivered to the following payment address: Xxxx X. Xxxxx, Esquire Xxxxxxx & Xxxxx Two Bala Xxxxx, Xxxxx 000 Xxxx Xxxxxx, XX 00000 (ii) All payments owed to OEHHA (EIN: 00-0000000), pursuant to § 3.1 shall be delivered directly to OEHHA (Memo Line “Prop 65 Penalties”) at the following addresses: For United States Postal Service Delivery: Xxxx Xxxxxxx Fiscal Operations Branch Chief Office of Environmental Health Hazard Assessment P.O. Box 4010 Sacramento, CA 95812-4010 For Non-United States Postal Service Delivery: Xxxx Xxxxxxx Fiscal Operations Branch Chief Office of Environmental Health Hazard Assessment 0000 X Xxxxxx Sacramento, CA 95814

  • Issuance of the Bonds The Authority shall issue the Bonds under and in accordance with the Indenture, subject to the provisions of the bond purchase agreement among the Authority, the initial purchaser or purchasers of the Bonds and the Company. The Company hereby approves the issuance of the Bonds and all terms and conditions thereof.

  • Original Issuance of Notes 3 Section 2.01 Form..............................................................................3 Section 2.02 Execution, Authentication and Delivery............................................3 Section 2.03

  • Issuance of Debt On the date of receipt by Holdings or any of its Subsidiaries of any Cash proceeds from the incurrence of any Indebtedness of Holdings or any of its Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.1), the Borrower shall prepay the Loans in an aggregate amount equal to 100% of such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses.

  • Issuance of Units By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed in the Schedules to the Reference Trust Agreement and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Reference Trust Agreement and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a Letter of Credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by DTC of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. Effective as of the Evaluation Time on October 1, 2014, in the event that the aggregate value of Securities in the Trust has increased since the evaluation on September 30, 2014, the Trustee shall issue such number of additional Units to the Unitholder of outstanding Units as of the close of business on October 1, 2014, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, including the additional Units issued pursuant to this sentence); in the event that the aggregate value of Securities in the Trust Fund has decreased since the evaluation on September 30, 2014, there will be a reverse split of the outstanding Units, and said Unitholder will surrender to the Trustee for cancellation such number of Units, that the price per Unit computed as of the Evaluation Time on October 1, 2014, plus the maximum applicable sales charge shall equal approximately $10 per Unit (based on the number of Units outstanding as of said Evaluation Time, reflecting cancellation of Units pursuant to this sentence). The Trustee hereby agrees that on the date of any deposit of additional Securities pursuant to Section 2.05 it shall acknowledge that the additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such additional Securities so deposited. (24) Section 2.01 is hereby amended and replaced in its entirety with the following:

  • Issuance of Preferred Stock So long as this Warrant remains outstanding, the Company will not issue any capital stock of any class preferred as to dividends or as to the distribution of assets upon voluntary or involuntary liquidation, dissolution or winding up, unless the rights of the holders thereof shall be limited to a fixed sum or percentage of par value in respect of participation in dividends and in the distribution of such assets.