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 11 (Redemption and Repurchase of the Notes).

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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 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).

Examples of Accrued PIK Interest in a sentence

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.
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.
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.
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”).
If any Event of Default occurs, the outstanding principal amount of this Note, plus accrued but unpaid interest (including accrued and unpaid Cash Interest and Accrued PIK Interest), any success fee, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount.

More Definitions of Accrued PIK Interest

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).

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 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 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.

Accrued PIK Interest means at any time, the sum of the PIK Interest accrued and capitalised pursuant to Clause 8.2 (Error! Unknown switch argument.) 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 an amortisation of that Note pursuant to Clause 0 (Mandatory amortisation due to a SBB Shares Disposal Event).Interest from the First Interest Rate Switch Date to the Second Interest Rate Switch Date) on each Note.

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