Additional PIK Interest definition

Additional PIK Interest has the meaning specified in Section 2.9(b)(viii).
Sample 1Sample 2
Additional PIK Interest means the portion of an installment of interest due on an Interest Payment Date to be paid by issuance of Additional PIK Notes as and to the extent provided for in Section 4.01.
Sample 1
Additional PIK Interest shall have the meaning specified in Section 5.05(b).
Sample 1

Examples of Additional PIK Interest in a sentence

  • The Additional PIK Interest shall be compounded monthly by adding the Additional PIK Interest to the principal amount of the Notes and shall be due and payable, in cash, at the Maturity Date and on the date of any repayment or prepayment of the Notes (with respect to the portion of such Notes so repaid or prepaid).

  • Unless prepaid earlier, all PIK Notes and all accrued and capitalized Additional PIK Interest thereon are due and payable in cash on the Term Loan Maturity Date.

  • The Liens on, and pledges of, all Collateral hereunder and under the Security Documents will also be terminated and released upon payment in full of the principal of accrued and unpaid interest (including PIK Interest) and Additional PIK Interest, if any, on the Notes and all other Obligations hereunder, the Guarantees and the Security Documents that are due and payable at or prior to the time such principal and accrued and unpaid interest, are paid.

  • With respect to any PIK Notes required to be issued in connection with the payment of Additional PIK Interest, the Company shall deliver to the Trustee, no later than one Business Day prior to the relevant Interest Payment Date an order to authenticate and deliver such PIK Notes.

  • Accrued and unpaid Additional PIK Interest, if any, will be due and payable semi-annually in arrears on each Interest Payment Date to Holders of record on the Record Date immediately preceding the Interest Payment Date, and shall be payable by the Company by issuing additional Floating Rate Notes with a principal amount equal to the Additional PIK Interest then due and payable (the “PIK Floating Rate Notes”).

  • Prior to 12:00 p.m. (noon) New York, New York time on each Interest Payment Date and the Maturity Date, the Company shall deposit with the Paying Agent U.S. Legal Tender sufficient to make payments, if any, of principal and Cash Interest (other than interest payable as Additional PIK Interest on such Interest Payment Date in accordance with Section 4.01) due on such Interest Payment Date or the Maturity Date, as the case may be.

  • If an Event of Default occurs and is continuing, subject to the provisions of the Intercreditor Agreement, the Holders may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, or interest (including PIK Interest and Additional PIK Interest, if any) on the Notes or to enforce the performance of any provision of the Notes, this Agreement, any Security Document or any Guarantee.

  • Upon giving such a Default Notice, the Holder shall be entitled to be paid in full the balance of any principal amount unpaid hereunder plus accrued Base Interest, PIK Interest and Additional PIK Interest, if any, and any costs it may have incurred, including reasonable attorney’s fees, and subject to the provisions of the Intercreditor Agreement, to any other remedies which may be available under any applicable law or otherwise.

  • This does not allow a focus on the critical path and this delaying the project.

  • Notwithstanding anything in Section 3.4 to the contrary, upon the occurrence and during the continuation of an Event of Default, the increased amount of the Applicable Margin shall be payable only in cash and not as PIK Interest, Additional PIK Interest or Optional PIK Interest.


More Definitions of Additional PIK Interest

Additional PIK Interest means an amount of additional interest accruing on the outstanding Term B Loans from time to time, which interest rate shall be (a) [Percentage redacted for confidentiality reasons] from the Fourth Amendment Effective Date through and including March 31, 2021, and (b) thereafter the applicable percentage per annum set forth below determined by reference to the Consolidated Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) (with effect retroactively to the first day of the Fiscal Quarter immediately after the Fiscal Quarter to which such Compliance Certificate relates):
Sample 1
Additional PIK Interest means interest that accrues and is payable on each Interest Payment Date on each Loan that the Borrower elects not to pay in cash but to pay via a "payment-in-kind" or Additional PIK Loan made by Lenders to Borrower, which shall be added to the outstanding principal balance of the respective Loan, and shall thereafter accrue interest thereon at a rate equal to the rate payable on the respective Loan from time to time as provided herein, but in no event to exceed the Maximum Rate.
Sample 1
Additional PIK Interest has the meaning specified in the Notes.
Sample 1
Additional PIK Interest is defined in Section 3.4(b)(ii).
Sample 1
Additional PIK Interest has the meaning given to that term in Clause 8.2 (Interest accrual). “Affiliate” means:
Sample 1

Related to Additional PIK Interest

  • PIK Interest has the meaning specified in Section 2.05(a).

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Base Interest means the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Additional Payment has the meaning given in clause 11.1 (Right to repay the Facility early).

  • Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

  • Additional Fee means a fee, in addition to the licence fee, imposed by the municipality on a business at any time during the term of the licence for costs incurred by the municipality attributable to the activities of the business;

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Class C Additional Interest is defined in Section 4.1(c).

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).

  • Additional Servicing Fee means, for any Collection Period, if a successor Servicer has been appointed pursuant to Section 8.2 of the Sale and Servicing Agreement, the amount, if any, by which (i) the compensation payable to such successor Servicer for such Collection Period exceeds (ii) the Monthly Servicing Fee for such Collection Period.

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Collateral Senior Additional Interest shall have the meaning specified in subsection 4.02(d).

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Additional Payments means additional amounts required to be paid to a holder of any Note pursuant to Section 13 by reason of a Change in Tax Law; and a “Change in Tax Law” means (individually or collectively with one or more prior changes) (i) an amendment to, or change in, any law, treaty, rule or regulation of Canada after the date of the Closing, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation after the date of the Closing, which amendment or change is in force and continuing and meets the opinion and certification requirements described below or (ii) in the case of any other jurisdiction that becomes a Taxing Jurisdiction after the date of the Closing, an amendment to, or change in, any law, treaty, rule or regulation of such jurisdiction, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation, in any case after such jurisdiction shall have become a Taxing Jurisdiction, which amendment or change is in force and continuing and meets such opinion and certification requirements. No such amendment or change shall constitute a Change in Tax Law unless the same would in the opinion of the Company (which shall be evidenced by an Officer’s Certificate of the Company and supported by a written opinion of counsel having recognized expertise in the field of taxation in the Taxing Jurisdiction, both of which shall be delivered to all holders of the Notes prior to or concurrently with the Tax Prepayment Notice in respect of such Change in Tax Law) affect the deduction or require the withholding of any Tax imposed by such Taxing Jurisdiction on any payment payable on the Notes.

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • Additional Fees means, where applicable, those fees and charges for the Additional Goods/Services and additional costs and levies required from time to time and notified to you in advance, to provide adequately for the education and related activities and services provided to your Child/the Student, including but not limited to the costs of extra-curricular activities or special educational needs.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • PIK Loan means a Loan that permits the Obligor thereon to defer or capitalize any portion of the accrued interest thereon.

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Interest Date means the last day of an Interest Period.

  • PIK Amount means, as of any date of determination, the amount of all interest accrued with respect to the Loans that has been paid in kind by being added to the balance thereof in accordance with Section 2.04(b).

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

  • Cash Interest means interest paid in the form of cash.