Paid in Kind definition

Paid in Kind as used with respect to payment of any accrued interest on any Loan, or the payment of any fee or any other amount hereunder that is expressly specified as being required to be Paid in Kind (or payable in kind, capitalized or similar) (including PIK Interest and the Upfront Payment) (the applicable interest, fee or other amount, the “Reference Obligation”), shall mean that such Reference Obligation shall (automatically, by operation of the terms hereof, without the requirement for any Person to take any action or cause anything to be done in order to effectuate such payment), be deemed paid at 12:01 a.m. (New York City time) on due date therefor, by deeming the equivalent Dollar amount of such Reference Obligation (calculated in accordance with Section 3 and as otherwise provided in this Agreement) to be automatically capitalized as an equivalent principal amount of the Loans due in respect of (as determined in accordance with this Agreement), and, accordingly, such amount shall be compounded onto, and added to the aggregate principal amount of the Loans outstanding immediately prior to such payment, such that, immediately after giving effect to the payment of the applicable Reference Obligation as described herein, the aggregate outstanding principal amount of the Loans shall include the amount of such Reference Obligation. For the avoidance of doubt, without limiting the foregoing, (i) with respect to any Reference Obligation owing with respect to any DIP Term Loans, once such Reference Obligation has been Paid in Kind in accordance with the foregoing, the amount of such Reference Obligation shall constitute, for all purposes hereunder, DIP Term Loans incurred as of such time, which shall thereupon accrue interest in accordance with Section 3 and (ii) the aggregate principal amount of DIP Term Loans outstanding as of any time shall be calculated to include (x) the original principal amount thereof, (y) the aggregate amount of PIK Interest through the time of determination and the amount of the Upfront Payment and (z) any other amounts Paid in Kind hereunder.
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Paid in Kind means, with respect to interest accruing on any Loans, that such interest has been capitalized and the amount thereof has been added to the outstanding principal amount of such Loans.
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Paid in Kind means Accrued Interest paid in shares of the Company’s common stock.
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Examples of Paid in Kind in a sentence

  • Contractual PIK interest, which represents contractually deferred interest added to the loan balance that is generally due at the end of the loan term, is generally recorded on an accrual basis to the extent such amounts are expected to be collected.on this loan includes Paid In Kind.

  • The holders of the remaining senior bond loan accepted that interest will only be Paid In Kind until the Super Senior bond has been repaid.

  • The loan is subject to 12% interest rate split between cash interest and Paid In Kind interest.

  • Lot Comparability - Section 3-5 of the Subdivision Regulations states that new lots in areas that are predominantly developed are to be generally in keeping with the lot frontage and lot size of the existing surrounding lots.

  • The holders of the remaining senior bond loan have accepted that interest is to be Paid In Kind until the super senior bond has been repaid.

  • Quinn, Vice President, Controller and Chief Accounting Officer(Principal Accounting Officer) Exhibit 22.1 List of Issuers and Guarantor SubsidiariesIn addition to A.M. Castle & Co. (incorporated in Maryland), as of September 30, 2020, the following subsidiaries of A.M. Castle & Co. guarantee the 3.00% / 5.00% Convertible Senior Secured Paid In Kind Toggle Notes due 2024 issued by A.M. Castle & Co.

  • Interest accrued is cash interest recognised at 6% in years 1-2, as well as Paid In Kind interest recognised at a rate of 6% in years 1-2, net of any quarterly interest repayments.

  • If oil and gas royalties due under the Lease are paid in kind at the election or request of the Board, then the delivery of the royalty oil and gas at the location determined by the Board in accordance with §66.79(e), Texas Education Code shall satisfy the Lessee’s obligation for payment of the royalty due under the Lease.3.22 Documents Required for Royalty Paid In Kind.

  • Quinn, Vice President, Controller and Chief Accounting Officer(Principal Accounting Officer) Exhibit 22.1 List of Issuers and Guarantor SubsidiariesIn addition to A.M. Castle & Co. (incorporated in Maryland), as of March 31, 2020, the following subsidiaries ofA.M. Castle & Co. guarantee the 3.00% / 5.00% Convertible Senior Secured Paid In Kind Toggle Notes due 2024 issued by A.M. Castle & Co.


More Definitions of Paid in Kind

Paid in Kind. ("PIK"). As used in this Agreement, "Paid in Kind" shall mean, payment in the form of the issuance of the Company's 8% Cumulative Preferred Stock.
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Related to Paid in Kind

  • Unpaid Interest means, on any Distribution Date with respect to any Class of Interests or Certificates (other than the Residual Certificates), the portion of Distributable Certificate Interest for such Class remaining unpaid as of the close of business on the preceding Distribution Date, plus one month's interest thereon at the applicable Pass-Through Rate.

  • Class Unpaid Interest Amounts As to any Distribution Date and Class of interest bearing Certificates, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount distributed on such Class on prior Distribution Dates pursuant to clause (ii) of the definition of Class Optimal Interest Distribution Amount.

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Unpaid income tax means income tax due but not paid by the date the income tax is required to be paid under applicable law.

  • Prepaid Installment With respect to any Mortgage Loan, any installment of principal thereof and interest thereon received prior to the scheduled due date for such installment, intended by the Mortgagor as an early payment thereof and not as a Prepayment with respect to such Mortgage Loan.

  • Paid in Full or “Payment in Full” means the indefeasible payment in full in cash of all of the Guaranteed Obligations.

  • Dividends Paid in the Ordinary Course means cash dividends declared payable on the Common Shares in any fiscal year of the Corporation to the extent that such cash dividends do not exceed, in the aggregate, the greatest of: (i) 200% of the aggregate amount of cash dividends declared payable by the Corporation on the outstanding Common Shares in its immediately preceding fiscal year; (ii) 300% of the arithmetic mean of the aggregate amounts of cash dividends declared payable by the Corporation on the outstanding Common Shares in its three immediately preceding fiscal years; and (iii) 100% of the aggregate consolidated net income of the Corporation, before extraordinary items, for its immediately preceding fiscal year.

  • Arrears of Interest means as at any date and in relation to any Mortgage Loan, interest (other than Capitalised Interest or Accrued Interest) on such Mortgage Loan which is currently due and payable on such date;

  • Class Unpaid Interest Shortfall As to any Distribution Date and each interest-bearing Class, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount of interest actually distributed on such Class on such prior Distribution Dates pursuant to clause (ii) of the definition of "Interest Distribution Amount."

  • Available Amounts means, with respect to any Distribution Date, the sum of Available Interest and Available Principal for such Distribution Date.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Unpaid Interest Shortfalls Each of the Class A Unpaid Interest Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4 Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class B-6 Unpaid Interest Shortfall.

  • Defaulted Amounts means any amounts on any Note (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal and interest) that are payable but are not punctually paid or duly provided for.

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

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.