Common use of Paid In-Kind Interest Clause in Contracts

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.00% per annum interest in cash and (ii) 4.50% of the 13.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.509.00% of the 13.00% per annum interest in cash and (ii) 4.504.00% of the 13.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, the Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5011.50% of the 13.0014.00% per annum interest in cash and (ii) 4.502.50% of the 13.0014.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower may may, on notice to the Administrative Agent, elect at the time that the Borrower makes the applicable interest payment to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.509.00% of the 13.00% per annum interest in cash and (ii) 4.504.00% of the 13.00% per annum interest as compounded interest, which will be added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK Period, Borrower Lead Borrower, on behalf of Borrowers, may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.0012.50% per annum interest in cash and (ii) 4.504.00% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5010.00% of the 13.0014.00% per annum interest in cash and (ii) 4.504.00% of the 13.0014.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, the Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5011.5% of the 13.0015% per annum interest in cash and (ii) 4.503.5% of the 13.0015% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. B. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, the Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.509.50% of the 13.0011.50% per annum interest in cash and (ii) 4.502.00% of the 13.0011.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.0012.50% per annum interest in cash and (ii) 4.504.00% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK PeriodPeriod as of the date hereof, the Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 3.02 as follows: (i) only 8.50% of the 13.00% per annum interest in cash and (ii) 4.50% of the 13.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans on the last day of each Interest Period (the amount of any such compounded interest being a “PIK Loan”). At the request of ; If requested by any Lender, the each PIK Loan of such Lender may shall be evidenced by a Note delivered pursuant to Section 2.04 for the applicable Borrowing in the form of Exhibit C-2respect thereof. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.0012.50% per annum interest in cash and (ii) 4.504.00% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans on each applicable Payment Date (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest from and after the Payment Date on which such PIK Loan is advanced to Borrower, in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower the Borrowers may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.509.00% of the 13.0012.50% per annum interest in cash and (ii) 4.503.50% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5010.00% of the 13.0014.00% per annum interest in cash and (ii) 4.504.00% of the 13.0014.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.00% per annum interest in cash and (ii) 4.50% of the 13.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower the Borrowers may elect to pay the interest on the outstanding principal amount of the Loans Loans, other than the Convertible Tranche, payable pursuant to Section 3.01 as follows: (i) only 8.509.00% of the 13.0012.50% per annum interest in cash and (ii) 4.503.50% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans. For the avoidance of doubt, all interest payable under the Convertible Tranche must be paid in cash.

Paid In-Kind Interest. Notwithstanding Section 3.01 Section 3.02(a) or (ac), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.507.75% of the 13.0010.25% per annum interest in cash and (ii) 4.502.50% of the 13.0010.25% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.50% of the 13.00% per annum interest in cash and (ii) 4.50% of the 13.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.01(a), at any time during the PIK Period, Borrower the Borrowers may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5011.50% of the 13.0014.00% per annum interest in cash and (ii) 4.502.50% of the 13.0014.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.507.50% of the 13.009.50% per annum interest in cash and (ii) 4.502.00% of the 13.009.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (a), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.509.00% of the 13.0012.50% per annum interest in cash and (ii) 4.503.50% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK Periodso long as no Default or Event of Default has occurred and is continuing, Borrower may elect on each applicable Payment Date to pay the interest then due on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.5010.00% of the 13.0012.50% per annum interest in cash and (ii) 4.502.50% of the 13.0012.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding Section 3.01 (aSection 3.02(a), at any time during the PIK Period, the Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 3.02 as follows: (i) only 8.507.50% of the 13.0011.00% per annum interest in cash and (ii) 4.503.50% of the 13.0011.00% per annum interest as compounded interest, added to the aggregate principal amount of the Loans on the last day of each Interest Period (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lender, the Each PIK Loan of such Lender may shall be evidenced by a Note delivered pursuant to Section 2.04 for the applicable Borrowing in the form of Exhibit C-2respect thereof. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.

Paid In-Kind Interest. Notwithstanding SectionSections 3.02 3.01 (a) through (c), at any time during the PIK Period, Borrower may elect to pay the interest on the outstanding principal amount of the Loans payable pursuant to Section 3.01 as follows: (i) only 8.508.00% of the 13.0011.50% per annum interest in cash and (ii) 4.503.50% of the 13.0011.50% per annum interest as compounded interest, added to the aggregate principal amount of the Loans (the amount of any such compounded interest being a “PIK Loan”). At the request of any Lenderthe Lenders, the each PIK Loan of such Lender may be evidenced by a Note in the form of Exhibit C-2. The principal amount of each PIK Loan shall accrue interest in accordance with the provisions of this Agreement applicable to the Loans.