Payment of PIK Interest Sample Clauses

Payment of PIK Interest. (a) The PIK Interest on the Loan shall be compounded and capitalised so as to increase (and be treated for all purposes to be part of) the outstanding principal amount of the Loan on each relevant Interest Payment Date and shall be payable on the earliest to occur of: (i) the Final Maturity Date; (ii) the date on which the whole Loan is prepaid or repaid in full; and (iii) any other date as agreed between the Agent (acting on the instructions of the Lenders) and the Borrower. (b) The aggregate amount of the Loan (including all PIK Interest capitalised under paragraph (a) above) shall bear interest in accordance with Clause 8.1 (Rate of interest).

Payment of PIK Interest. (a) When paying PIK Interest as set forth in the Notes, the Issuer shall (without the consent of the Holders) increase the aggregate principal amount of the outstanding Notes by an amount equal to the amount of interest then due and owing as PIK Interest (rounded up to the nearest €1). On each interest payment date, the Registrar shall notify each Holder of such increased principal amount representing PIK Interest on or prior to each interest payment date. Upon request from a Holder, the Registrar shall provide such Holder with the total principal amount of PIK Notes held by such Holder as reflected in the Security Register. With respect to the final interest period ending at the Stated Maturity of the Notes, upon any redemption of the Notes or in connection with an Asset Sale Offer or a Change of Control Offer, accrued and unpaid interest shall be payable in cash. (b) Following an increase in the principal amount of the outstanding Notes as a result of a payment of PIK Interest, the Notes will bear interest on such increased principal amount from and after the applicable interest payment date and will otherwise have identical terms to the initial Notes. (c) Any increase in the principal amount of the outstanding Notes as a result of a payment of PIK Interest shall be permitted under this Indenture and the Notes.

Payment of PIK Interest. Subject to section 2.5 below, the Company shall pay PIK interest on the Principal Balance outstanding at a rate of (i) with respect to the period ending (but excluding) March 17, 2023, 4.5% per annum, and (ii) with respect to the period commencing on March 17, 2023, 7.0% per annum (the “PIK Interest Rate”). Such PIK interest shall be payable by increasing the Principal Balance of this Note (with such increased amount accruing interest as well) on each Interest Payment Date. On each Interest Payment Date, the Company shall make a record on its books of the additional increase to the Principal Balance of this Note due to the payment of paid-in-kind interest.

Payment of PIK Interest. Subject to section 2.5 below, the Company shall pay PIK interest at a rate of 4.5% per annum (the “PIK Interest Rate”) on the Principal Balance outstanding. Such PIK interest shall be payable by increasing the Principal Balance of this Note (with such increased amount accruing interest as well) on each Interest Payment Date. On each Interest Payment Date, the Company shall make a record on its books of the additional increase to the Principal Balance of this Note due to the payment of paid-in-kind interest.

Payment of PIK Interest. On each Interest Payment Date, any PIK Interest Amount as set out in Schedule 9 (Table of Interest Payable) that is then unpaid and that has not been previously added to the principal amount of the Loan shall be added, on a dollar-for-dollar basis, to the Loan and amounts so added shall thereafter be deemed to constitute on a dollar-for-dollar basis part of the outstanding principal amount of the Loan. If not previously paid by the Borrower to the Lender in cash, all accrued unpaid PIK Interest Amount(s) shall be due and payable in cash by the Borrower to the Lender upon the earliest to occur of the Final Maturity Date or full prepayment of the Loan in accordance with Clause 7 (Prepayment and Cancellation).

Payment of PIK Interest. The Borrower to which a Loan has been made shall pay accrued interest on that Loan under clause 10.3 (PIK Interest) on the earlier of: (a) the first date on which all present and future liabilities and obligations at any time of any member of the Group to any Finance Party under the Finance Documents (other than any accrued interest under clause 10.3 (PIK Interest)) have been fully and finally discharged; (b) the Termination Date; and (c) the sale of all or substantially all of the assets of the Group, whether in a single transaction or a series of related transactions.

Payment of PIK Interest. The Company shall pay accrued and unpaid PIK Interest to the Holder on the last day of each calendar month (each such date, a “PIK Interest Payment Date”) by capitalizing such PIK Interest on such PIK Interest Payment Date and adding it to (and thereby increasing) the outstanding Principal of this Note (as increased by any prior payments of PIK Interest), and thereafter all such PIK Interest shall be treated in all respects as outstanding Principal under this Note. No additional Notes shall be issued to evidence such PIK Interest. If any PIK Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day.

Payment of PIK Interest. PIK Interest shall accrue daily and shall be paid and satisfied as follows, at the option of the Borrower: (a) by Borrower in cash; or (b) by the amount of the PIK Interest payable on the applicable Interest Payment Date being added to the principal amounts of the Loans, as applicable. Each addition of PIK Interest to the principal amount of a Loan shall be evidenced by the Administrative Agent updating the relevant Loan Accounts and shall become a "PIK Loan". At the written request of a Lender, Borrower shall execute and deliver to the requesting Lender a promissory note in the amount of a PIK Loan owing to such Lender (each, a "PIK Note"; collectively, the "PIK Notes"), substantially in the form of Exhibit 1.4(3) and on terms set out in Section 1.4(4).

Payment of PIK Interest. (1) PIK Interest shall be payable in PIK Shares in an amount calculated by the Issuer by dividing the outstanding balance of the accrued PIK Interest after giving effect to any interest to be paid in Cash Interest on the outstanding principal amount of the Notes by the 20-day volume weighted average price per share of the Issuer’s Common Stock on the New York Stock Exchange (or the over-the-counter market or other exchange on which the Common Stock is then listed) calculated as at the end of the three Trading Days prior to the Determination Date, rounded up to the nearest share of Common Stock. With respect to any PIK Share Payments, the Issuer shall deliver such PIK Shares in payment of PIK Interest to the Holders on the relevant Interest Payment Date. On the relevant Interest Payment Date, the Issuer shall deliver to the Trustee an Officers’ Certificate certifying that the issuance of PIK Shares as payment of all or a portion of PIK Interest on such Interest Payment Date has been made in accordance with the Indenture and Officers’ Certificate delivered to the Trustee with respect to such Interest Payment Date pursuant to Section 2.01(c)(viii). (2) PIK Note Payments shall be effected by issuing PIK Notes in certificated form in an aggregate principal amount equal to the percentage of PIK Interest to be paid on the principal amount of Notes held by each Holder on the relevant Record Date, after giving effect to any interest to be paid in Cash Interest, less any PIK Share Payment to be made on such Interest Payment Date (rounded up to the nearest $1.00), and the Trustee will, upon receipt of an Authentication Order, authenticate and deliver such PIK Notes on the Interest Payment Date in certificated form for original issuance to the Holders of record on the relevant Record Date, as shown in the Note Register. (3) Any PIK Notes will be dated as of the applicable Interest Payment Date and will bear interest from and after such date. All Notes issued pursuant to a PIK Note Payment will mature on March 20, 2022 and will be governed by, and subject to, the terms, provisions and conditions of this Indenture and shall have the same rights and benefits as the Initial Notes. Following an increase in the principal amount of the outstanding Notes as a result of a PIK Note Payment, the Notes shall accrue interest on such increased principal amount from and after the related Interest Payment Date on which such PIK Notes were issued. (4) PIK Share Payments shall be made ...

Payment of PIK Interest. (a) The Company shall be entitled make a payment of PIK Interest under this Indenture, at its option, either in cash or by increasing the outstanding principal amount of the Notes or issuing PIK Notes. (b) With respect to the issuance of any PIK Notes, no later than the relevant Interest Payment Date, the Company shall deliver to the trustee and the Paying Agent (if other than the Trustee), (i) if such PIK Notes are definitive Notes, the required amount of new definitive Notes (rounded up to the nearest whole dollar) and an order to authenticate and deliver such PIK Notes or (ii) if such PIK Notes are Global Notes, an order to increase the outstanding principal amount of Notes by the required amount (rounded up to the nearest whole dollar) (or, if necessary pursuant to the requirements of the Depositary or otherwise, new Global Notes and an order to authenticate and deliver such new Global Notes). Any PIK Notes shall, after being executed and authenticated pursuant to the terms of this Indenture, be (i) if such PIK Notes are definitive Notes, mailed to the person entitled thereto as shown on the Register for the definitive Notes as of the relevant Record Date or (ii) if such PIK Notes are Global Notes, deposited into the account of the Holder or Holders thereof as of the relevant Record Date. (c) Alternatively, in connection with any payment of PIK Interest, the Company may direct the Paying Agent to make appropriate amendments to the schedule of principal amounts of the relevant Global Notes outstanding for which PIK Notes will be issued and arrange for deposit into the account specified by the Holder or Holders thereof as of the relevant Record Date. (d) Following an increase in the principal amount of the outstanding Global Notes as a result of a payment of PIK Interest, the Global Notes will bear interest on such increased principal amount from and after the date of such payment. Any PIK Notes issued in certificated form or as new Global Notes will be dated as of the applicable interest payment date and will bear interest from and after such date. All Notes issued pursuant to a payment of PIK Interest will mature on June 1, 2011 and will be governed by, and subject to the terms, provisions and conditions of, this Indenture and shall have the same rights and benefits as the Initial Notes issued on the Issue Date. Any PIK Notes will be issued with the description “PIK” on the face of such PIK Note. (e) Payment shall be made in such form and terms as spec...