Accrued PIK Interest definition

Accrued PIK Interest means at any time the sum of the PIK Interest accrued on each Note during all Interest Periods preceding such time, less an amount equal to the PIK Interest accrued on that Note and which has been paid in connection with a partial redemption of that Note pursuant to Clause 10 11 (Redemption and Repurchase of the Notes).

Accrued PIK Interest shall have the meaning set forth in Section 2(c).

Accrued PIK Interest means at any time, the sum of the PIK Interest accrued on each Bond during all Interest Periods preceding such time, less an amount equal to the PIK Interest accrued on that Bond and which has been repaid in connection with a partial prepayment of that Bond pursuant to Clause 12.4 (Mandatory Partial Prepayment).

Examples of Accrued PIK Interest in a sentence

• The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Note plus all accrued Cash Interest and Accrued PIK Interest and the success fee to be converted by (y) the Conversion Price in effect at the time of such conversion.

• All accrued PIK Interest owed on the Maturity Date (the “Accrued PIK Interest”) shall be paid by increasing the principal amount outstanding at the time of such payment by the amount of the Accrued PIK Interest.

• To effect conversions hereunder, the Holder shall not be required to physically surrender this Note to the Company unless the entire principal amount of this Note, plus all accrued and unpaid interest thereon including Accrued PIK Interest, and success fee has been so converted.

• After the Original Issue Date until this Note is no longer outstanding, and provided that that the provisions of Rule 144 under the Securities Act so permit, this Note shall be convertible (including the principal amount, all outstanding cash interest, Accrued PIK Interest and the success fee specified in Section 3(d)), in whole or in part, at any time, and from time to time, into shares of Common Stock at the option of the Holder (a “Conversion”).

• This Note is exchangeable for an equal aggregate principal amount of Notes and Accrued PIK Interest of different authorized denominations (of no less than $1,000 in principal amount), as requested by the Holder surrendering the same.

More Definitions of Accrued PIK Interest

Accrued PIK Interest means at any time, the sum of the PIK Interest accrued and capitalised pursuant to Clause 9.2.3 (PIK Interest) on each Note, less an amount equal to the PIK Interest accrued and capitalised on that Note and which has been repaid in connection with a partial prepayment of that Note pursuant to Clause 10.3 (Voluntary partial redemption).

Accrued PIK Interest means the payment-in-kind of interest in respect of the Loan by increasing and capitalizing such interest on the outstanding principal amount of the Loan pursuant to Section 2.05(e).

Accrued PIK Interest means, at any time during any calendar quarter, the sum of (i) interest on the outstanding principal amount of Term Loan 2 accrued at the PIK Interest Rate, plus (ii) interest on the Consolidated PIK Amount (calculated as of the first day of such three month period) accrued at the Consolidated PIK Interest Rate during such quarter.

Accrued PIK Interest the aggregate amount of all PIK Interest which has been added to the principal balances of the Revolving Credit Notes and Term Notes, as applicable, but which has not been paid by Borrowers in cash.

Accrued PIK Interest has the meaning assigned to such term in Section 2.01(a).

Accrued PIK Interest has the meaning given to that term in Section 15.3 (PIK Interest).

Accrued PIK Interest means $2,500,000, being an amount resulting from the accrual of interest on the principal amount of “Loans” under and as defined in the Pre-Petition Second Lien Credit Agreement at a rate equal to the Adjusted LIBO Rate plus 9% per annum during the period commencing on the Petition Date and ending on the Effective Date.