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:
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. (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.
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).
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:
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. PIK Interest shall accrue daily and shall be paid and satisfied as follows, at the option of the Borrower:
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.
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. 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).
