PIK Interest. (i) The Borrowers may, for any Interest Payment Date (other than the Maturity Date), elect (such election, a “PIK Election”) to pay up to one hundred percent (100%) of the interest on the Loans due and payable on such Interest Payment Date in- kind by having such interest capitalized and added to the aggregate outstanding principal amount of the Loans on such Interest Payment Date (any such interest that is capitalized and added to the aggregate outstanding principal amount of the Loans on an Interest Payment Date being referred to herein as “PIK Interest”) and pay the balance, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment Date shall not exceed the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless the context otherwise requires, for all purposes hereof, references to “principal amount” of the Loans refers to the face amount of the Loans and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date on which such interest has been so added. (ii) The Borrower Representative shall make a PIK Election with respect to any Interest Payment Date (other than the Maturity Date) by delivering a notice to the Administrative Agent not later than five Business Days prior to the applicable Interest Payment Date in the form of Exhibit F, which notice shall specify the portion of the principal amount of the Loans as to which interest shall be payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest on the Loans shall be payable in cash. (iii) Notwithstanding anything herein to the contrary, interest shall be payable on any principal portion of the Loans that was converted as such pursuant to a PIK Election at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate plus 2.00% per annum. (iv) The obligation of the Borrower to pay PIK Interest shall be automatically evidenced by this Agreement. Upon the request of the Administrative Agent or any Lender, the Borrower shall confirm in writing the principal amount of the Loans, including all PIK Interest added to the principal amount thereof pursuant to this Section 2.08.
Appears in 1 contract
Samples: Sixth Amendment Agreement
PIK Interest. (i) The Borrowers mayExcept as set forth in the following sentence and in Section 1 of the Notes, for interest on the Notes shall be payable entirely in Cash Interest at the Cash Interest Rate. For any interest period ending on or prior to the June 15, 2018 Interest Payment Date Date, the Company may elect to pay all or any portion of interest in kind at the PIK Interest Rate on the then outstanding principal amount of the Notes (other than a “PIK Payment”) by increasing the Maturity Date), elect principal amount of the outstanding Notes or by issuing additional Notes (such electioneach, a “PIK ElectionInterest Note”) in a principal amount equal to pay up such interest (“PIK Interest”), provided, that the December 15, 2016 interest payment shall be made entirely in PIK Interest at the PIK Interest Rate. On the December 15, 2018 Interest Payment Date, the Company shall be permitted to one hundred percent (100%) make only part of the interest on payment in PIK Interest at the Loans due PIK Interest Rate and payable part of the interest payment in Cash Interest at the Cash Interest Rate, provided, that PIK Interest to be paid on such Interest Payment Date in- kind by having shall accrue only for the period from June 15, 2018 to, but not including, September 7, 2018, and any remaining interest for such interest capitalized and added period shall be payable solely in Cash Interest. Notwithstanding anything to the aggregate outstanding principal contrary, the payment of accrued interest in connection with any redemption or repurchase of the Notes as described under Section 3.07, 4.10 or 4.14 hereof will be made solely in Cash Interest. If the Company elects to pay interest on the Notes as a combination Cash Interest and PIK Interest, such Cash Interest and PIK Interest shall be paid on the Notes on a pro rata basis. In the event that the Company shall elect to pay PIK Interest for any interest period, then the Company shall deliver a notice to the Trustee and the Holders not less than five Business Days prior to the commencement of the relevant interest period, which notice shall state the total amount of the Loans interest to be paid on such Interest Payment Date (any such interest that is capitalized and added to the aggregate outstanding principal total amount of the Loans on an Interest Payment Date being referred to herein as “PIK Interest”) and pay the balance, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment Date shall not exceed the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless otherwise agreed between the context otherwise requiresCompany and the Trustee, for all purposes hereof, references to “principal amount” of the Loans refers to the face amount of the Loans and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date on which such interest has been so added.
(ii) The Borrower Representative shall make a PIK Election with respect to the issuance of any PIK Interest Payment Date (other than Notes, the Maturity Date) by delivering a notice Company shall deliver to the Administrative Agent not Trustee no later than five two Business Days prior to the applicable Interest Payment Date, (i) if such PIK Interest Notes are Definitive Notes, the required amount of new Definitive Notes (rounded up to the nearest whole dollar) and an Authentication Order to authenticate and deliver such PIK Interest Notes on the relevant Interest Payment Date in or (ii) if such PIK Interest Notes are Global Notes, by delivering a written order from an Officer of the form of Exhibit F, which notice shall specify Company to the portion of Trustee to increase the principal amount of the Loans as to which interest shall be payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest on the Loans shall be payable in cash.
(iii) Notwithstanding anything herein to the contrary, interest shall be payable on any principal portion of the Loans that was converted as such pursuant to a PIK Election at a rate per annum outstanding Global Note by an amount equal to the Eurodollar Rate amount of PIK Interest for the applicable interest period (rounded up to the nearest whole dollar). Any PIK Interest Note shall, after being executed and, if applicable, authenticated pursuant to Section 2.02 hereof, be (i) if such PIK Interest Period plus Notes are Definitive Notes, mailed to the Applicable Rate plus 2.00% per annum.
(iv) The obligation Person entitled thereto as shown on the register for the Definitive Notes as of the Borrower to pay relevant Record Date or (ii) if such PIK Interest shall be automatically evidenced Notes are Global Notes, deposited into the account specified by this Agreement. Upon the request Holder or Holders thereof as of the Administrative Agent or relevant record date. Notwithstanding the foregoing, in connection with any LenderPIK Payment on Notes that are Global Notes, the Borrower shall confirm Company may, if requested in writing by any Holder or if required by the procedures of the Depositary, in lieu of increasing the principal amount of such Global Notes, issue the Loans, including all required amount of the PIK Interest added Payment in the form of a new Global Note (rounded up to the principal amount thereof pursuant nearest whole dollar) upon delivery to the Trustee of an Authentication Order to authenticate and deliver such new Global Note on the relevant Interest Payment Date. Any PIK Payment shall be made in such form and on terms as specified in this Section 2.082.13, and the Company shall and the Trustee and Paying Agent may take additional steps as necessary to effect such PIK Payment.
Appears in 1 contract
Samples: Indenture (W&t Offshore Inc)
PIK Interest. (i) The Borrowers mayExcept as set forth in the following sentence and in Section 1 of the Notes, for interest on the Notes shall be payable entirely in Cash Interest at the Cash Interest Rate. For any interest period ending on or prior to the November 15, 2017 Interest Payment Date Date, the Company may elect to pay all or any portion of interest in kind at the PIK Interest Rate on the then outstanding principal amount of the Notes (other than a “PIK Payment”) by increasing the Maturity Date), elect principal amount of the outstanding Notes or by issuing additional Notes (such electioneach, a “PIK ElectionInterest Note”) in a principal amount equal to pay up such interest (“PIK Interest”); provided, that the November 15, 2016 interest payment shall be made entirely in PIK Interest at the PIK Interest Rate. On the May 15, 2018 Interest Payment Date, the Company shall be permitted to one hundred percent (100%) make only part of the interest on payment in PIK Interest at the Loans due PIK Interest Rate and payable part of the interest payment in Cash Interest at the Cash Interest Rate, provided, that PIK Interest to be paid on such Interest Payment Date in- kind by having shall accrue only for the period from November 15, 2017 to, but not including, March 7, 2018, and any remaining interest for such interest capitalized and added period shall be payable solely in Cash Interest. Notwithstanding anything to the aggregate outstanding principal contrary, the payment of accrued interest in connection with any redemption or repurchase of the Notes as described under Section 3.07, 4.12, 4.15 or 4.16 hereof will be made solely in Cash Interest. If the Company elects to pay interest on the Notes as a combination Cash Interest and PIK Interest, such Cash Interest and PIK Interest shall be paid on the Notes on a pro rata basis. In the event that the Company shall elect to pay PIK Interest for any interest period, then the Company shall deliver a notice to the Trustee and the Holders not less than five Business Days prior to the commencement of the relevant interest period, which notice shall state the total amount of the Loans interest to be paid on such Interest Payment Date (any such interest that is capitalized and added to the aggregate outstanding principal total amount of the Loans on an Interest Payment Date being referred to herein as “PIK Interest”) and pay the balance, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment Date shall not exceed the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless otherwise agreed between the context otherwise requiresCompany and the Trustee, for all purposes hereof, references to “principal amount” of the Loans refers to the face amount of the Loans and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date on which such interest has been so added.
(ii) The Borrower Representative shall make a PIK Election with respect to the issuance of any PIK Interest Payment Date (other than Notes, the Maturity Date) by delivering a notice Company shall deliver to the Administrative Agent not Trustee no later than five two Business Days prior to the applicable Interest Payment Date, (i) if such PIK Interest Notes are Definitive Notes, the required amount of new Definitive Notes (rounded up to the nearest whole dollar) and an Authentication Order to authenticate and deliver such PIK Interest Notes on the relevant Interest Payment Date in or (ii) if such PIK Interest Notes are Global Notes, by delivering a written order from an Officer of the form of Exhibit F, which notice shall specify Company to the portion of Trustee to increase the principal amount of the Loans as to which interest shall be payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest on the Loans shall be payable in cash.
(iii) Notwithstanding anything herein to the contrary, interest shall be payable on any principal portion of the Loans that was converted as such pursuant to a PIK Election at a rate per annum outstanding Global Note by an amount equal to the Eurodollar Rate amount of PIK Interest for the applicable interest period (rounded up to the nearest whole dollar). Any PIK Interest Note shall, after being executed and, if applicable, authenticated pursuant to Section 2.02 hereof, be (i) if such PIK Interest Period plus Notes are Definitive Notes, mailed to the Applicable Rate plus 2.00% per annum.
(iv) The obligation Person entitled thereto as shown on the register for the Definitive Notes as of the Borrower to pay relevant Record Date or (ii) if such PIK Interest shall be automatically evidenced Notes are Global Notes, deposited into the account specified by this Agreement. Upon the request Holder or Holders thereof as of the Administrative Agent or relevant record date. Notwithstanding the foregoing, in connection with any LenderPIK Payment on Notes that are Global Notes, the Borrower shall confirm Company may, if requested in writing by any Holder or if required by the procedures of the Depositary, in lieu of increasing the principal amount of such Global Notes, issue the Loans, including all required amount of the PIK Interest added Payment in the form of a new Global Note (rounded up to the principal amount thereof pursuant nearest whole dollar) upon delivery to the Trustee of an Authentication Order to authenticate and deliver such new Global Note on the relevant Interest Payment Date. Any PIK Payment shall be made in such form and on terms as specified in this Section 2.082.13, and the Company shall and the Trustee and Paying Agent may take additional steps as necessary to effect such PIK Payment.
Appears in 1 contract
Samples: Indenture (W&t Offshore Inc)
PIK Interest. The Borrower shall pay interest (i"PIK INTEREST") The Borrowers mayon the principal amount of this Note from the date hereof through December 31, for 2002 at the rate of 3% per annum and thereafter at the rate of 5% per annum which rate shall be increased on each successive January 1, April 1, July 1 and October 1, 2003, commencing with April 1, 2003, by an additional 0.25% on a cumulative basis (e.g., on April 1, 2003 the Interest Rate will be increased to 5.25%, on July 1, 2003 the Interest Rate will be increased to 5.50%, on October 1, 2003 the Interest Rate will be increased to 5.75%, etc.) (the "PIK INTEREST RATE"), by delivery to the Holder, by a date no later than each Interest Payment Date, of an additional promissory note (each, a "PIK NOTE") having an aggregate principal amount equal to the accrued but unpaid PIK Interest on this Note (and the amount of accrued but unpaid PIK Interest on any previously delivered PIK Notes) and otherwise having substantially identical terms to this Note (including, without limitation, with respect to the Interest Rate). Interest on each PIK Note shall accrue at the Interest Rate from the Interest Payment Date (other than the Maturity Date), elect (in respect of which such election, a “additional PIK Election”) to pay up to one hundred percent (100%) Note was issued until repayment of the principal and payment of all accrued interest in full. If for any reason one or more PIK Notes shall not be delivered in accordance herewith, Interest shall accrue on this Note such that the Loans aggregate Interest due and payable on such the Maturity Date and on each Interest Payment Date in- kind by having such interest capitalized would be the same as if all PIK Notes not issued had been issued, and added the principal payable on the Maturity Date with respect to this Note shall be an amount equal to the aggregate outstanding principal amount sum of the Loans principal outstanding hereunder and the aggregate principal which would be outstanding if the PIK Notes not issued had been issued. Notwithstanding the foregoing, at the option of the Borrower, Interest payable under this Section 2(b) shall be payable in cash on such any one or more Interest Payment Date (any such interest that is capitalized and added to Dates. For purposes of this Note, the aggregate outstanding principal amount of the Loans on an Interest Payment Date being referred to herein as “term "PIK Interest”) and pay " shall be deemed to include payments of Interest in cash at the balancePIK Interest Rate with respect to such times, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment Date shall not exceed the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless the context otherwise requires, for all purposes hereof, references to “principal amount” of the Loans refers to the face amount of the Loans and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date on which such interest has been so added.
(ii) The Borrower Representative shall make a PIK Election with respect to any Interest Payment Date (other than the Maturity Date) by delivering a notice to the Administrative Agent not later than five Business Days prior to the applicable Interest Payment Date in the form of Exhibit F, which notice shall specify the portion of the principal amount of the Loans as to which interest shall be payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest on the Loans shall be payable in cash.
(iii) Notwithstanding anything herein to the contrary, interest shall be payable on any principal portion of the Loans that was converted as such pursuant to a PIK Election at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate plus 2.00% per annum.
(iv) The obligation of the Borrower to pay PIK Interest shall be automatically evidenced by this Agreement. Upon the request of the Administrative Agent or any Lender, the Borrower shall confirm in writing the principal amount of the Loans, including all PIK Interest added to the principal amount thereof pursuant to this Section 2.08choose such cash option.
Appears in 1 contract
PIK Interest. (i) The Borrowers may, for any Interest Payment Date (other than the Maturity Date), elect (such election, a “PIK Election”) to pay up to one hundred percent (100%) of the interest on the Loans due and payable on such Interest Payment Date in- kind by having such interest capitalized and added to the aggregate outstanding principal amount of the Loans on such Interest Payment Date (any such interest that is capitalized and added to the aggregate outstanding principal amount of the Loans on an Interest Payment Date being referred to herein as “PIK Interest”) and pay the balance, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment this Note shall commence accruing on the Issuance Date shall not exceed at the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless the context otherwise requires, for all purposes hereof, references to “principal amount” of the Loans refers to the face amount of the Loans Rate and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date on which such interest has been so added.
(ii) The Borrower Representative shall make a PIK Election with respect to any Interest Payment Date (other than the Maturity Date) by delivering a notice to the Administrative Agent not later than five Business Days prior to the applicable Interest Payment Date in the form of Exhibit F, which notice shall specify the portion of the principal amount of the Loans as to which interest shall be payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest computed on the Loans basis of a 360-day year and the actual number of days elapsed per month and shall be payable in cash.
arrears for each Calendar Quarter on the first (iii1st) Notwithstanding anything herein Business Day of each Calendar Quarter after the Issuance Date (each, an “Interest Date”); provided, that (x) PIK Interest shall cease to the contraryaccrue on this Note on December 31, interest 2024, and (y) from and after December 31, 2024, no further PIK Interest shall accrue on this Note (provided, that, any PIK Interest that shall have accrued on this Note on or prior to December 31, 2024 shall remain outstanding and be payable on any principal portion of the Loans that was converted hereunder as such pursuant to a PIK Election at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate plus 2.00% per annum.
(iv) The obligation of the Borrower to pay set forth herein. Any accrued PIK Interest shall be automatically evidenced payable in kind on each Interest Date, to the record holder of this Note on the applicable Interest Date, by capitalizing such PIK Interest and, effective as of such Interest Date, adding it to (and thereby increasing) the outstanding Principal of this AgreementNote. Upon For the request avoidance of doubt, effective as of, and from and after, any Interest Date, the outstanding Principal of this Note shall be increased by the amount of PIK Interest paid in kind on such Interest Date for all purposes of this Note (including, without limitation, for the purposes of the Administrative Agent or future accrual of Interest on the outstanding Principal of this Note and for the purposes of determining the Conversion Amount as of any Lenderdate). Prior to the payment in kind of PIK Interest on an Interest Date, the Borrower shall confirm in writing the principal amount PIK Interest on this Note shall, until December 31, 2024, accrue at a PIK Interest Rate and be payable by way of inclusion of the LoansInterest in the Conversion Amount in connection with any conversion of this Note under Section 3, including all PIK Interest added to the principal amount thereof pursuant to this Section 2.08on each Redemption Date and/or in connection with any required payment upon any Bankruptcy Event of Default.
Appears in 1 contract
Samples: Securities Purchase Agreement (Fennec Pharmaceuticals Inc.)
PIK Interest. Except as otherwise agreed to in writing by the Requisite Lenders, additional pay-in-kind interest of 1.00% per annum (i"PIK Interest") The Borrowers mayshall accrue on the average daily aggregate amount of each Lender's outstanding Loans and its Revolving Loan Pro Rata Share of the outstanding Letters of Credit, for any Interest Payment Date (other than the Maturity period from the June 2002 Amendment Effective Date), elect (such election, a “PIK Election”) to pay up to one hundred percent (100%) of the interest on the Loans due and payable on such Interest Payment Date in- kind by having such interest capitalized and added to the aggregate outstanding principal amount of the Loans on such Interest Payment Date (any such interest that is capitalized and added to the aggregate outstanding principal amount of the Loans on an Interest Payment Date being referred to herein as “PIK Interest”) and pay the balance, if any, of such interest in cash on the such Interest Payment Date; provided that (A) no Default or Event of Default shall have occurred and be continuing on the date of such PIK Election and (B) the amount of interest elected by the Borrowers to be paid as PIK Interest on any Interest Payment Date shall not exceed the amount by which Liquidity would be less than the Applicable Liquidity Amount on such Interest Payment Date if the Borrowers were to instead make such PIK Interest payment in cash on such Interest Payment Date. Each PIK Election shall apply ratably to all outstanding Loans. Any interest so added to the principal amount of the Loans shall bear interest as provided in this Section 2.08 from the date on which such interest has been so added. Unless Company receives an aggregate amount of Net Cash Proceeds equal to at least $200,000,000 from one or more Asset Sales (the context otherwise requires, for all purposes hereof, references to “principal amount” "Minimum Asset Sales Date"); provided that PIK Interest shall not be deemed earned or be payable in the event that the Minimum Asset Sales Date or the date of the Loans refers to the face amount payment or prepayment in full of the Loans and not gross proceeds funded hereunder and includes any interest so capitalized and added to the principal amount of the Loans from the date other Obligations occurs on which such interest has been so added.
(ii) The Borrower Representative shall make a PIK Election with respect to any Interest Payment Date (other than the Maturity Date) by delivering a notice to the Administrative Agent not later than five Business Days or prior to the applicable September 30, 2003. PIK Interest Payment Date in the form of Exhibit F, which notice shall specify the portion of the principal amount of the Loans as to which interest shall be notionally become payable as PIK Interest. The Administrative Agent shall promptly deliver a corresponding notice to each Lender. In the absence of any PIK Election for any Interest Period, interest on the Loans last day of each March, June, September and December and shall be payable in cash.
(iii) Notwithstanding anything herein to the contraryitself accrue interest thereafter, interest shall be payable on any principal portion of the Loans that was converted as such pursuant to a PIK Election compounded quarterly, at a rate per annum equal to the Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate Margin in effect at such time for the Tranche B Term Loans plus 2.001.00% per annumfor successive notional interest periods of three months. The then-accrued PIK Interest owing to each Lender shall become payable to such Lender or its Eligible Assignee upon the earliest to occur of (i) the Minimum Asset Sales Date, (ii) the date of payment or prepayment in full of the Loans and other Obligations and (iii) June 30, 2005. Notwithstanding the foregoing, any accrued PIK Interest shall automatically be deemed to be earned and become payable immediately upon the occurrence of an Event of Default described in subsection 8.6 or 8.7 of this Agreement with respect to Company. Such PIK Interest may be prepaid by Company on any Business Day upon notice to the Administrative Agent.
(ive) The obligation Amendment to Subsection 2.2B(viii). Subsection 2.2B(viii) of the Borrower to pay PIK Interest shall be automatically evidenced Credit Agreement is hereby amended by this Agreement. Upon the request of the Administrative Agent or any Lender, the Borrower shall confirm deleting "ten (10)" therefrom and substituting "eleven (11)" in writing the principal amount of the Loans, including all PIK Interest added to the principal amount thereof pursuant to this Section 2.08lieu thereof.
Appears in 1 contract
