Issuance of PIK Notes and Notice of PIK Interest. (i) From (and including) the Issue Date to (but excluding) June 20, 2026, on each Interest Payment Date, (x) an amount equal to the interest payable at the Relevant Cash Interest Rate as of such Interest Payment Date will be paid solely in cash, and (y) without duplication, an amount equal to the interest payable at the Relevant PIK Interest Rate as of such Interest Payment Date may be paid, at the Company’s election, (a) in cash, (b) by increasing the principal amount of the outstanding Notes or if, and in the limited circumstances where, the Notes are no longer held in global form, by issuing Notes (“PIK Notes”) (rounded up to the nearest $1.00) under this Indenture, having the same terms and conditions as the Notes (“PIK Interest”) (in each case, a “PIK Payment”), or (c) a combination of the forms of payment set forth in sub-clauses (a) and (b) above. On and from June 20, 2026, the interest payable on an Interest Payment Date will be payable solely in cash.
