Payment in Kind definition

Payment in Kind has the meaning given to it in Section 11.1 of the Intercompany Loan Agreement;

Payment in Kind has the meaning given to it in Section 2(b).

Payment in Kind means any payment other than cash made or owing to the farm worker, to a value agreed to in either a contract of employment, collective agreement , provided that the agreed value may not be less than the cost to the employer or farm owner of providing the payment in kind;

Examples of Payment in Kind in a sentence

• The Company may, subject to certain approvals, elect the Payment in Kind election (“PIK Election”), in lieu of paying interest in cash, to satisfy all or any portion of its interest obligation payable on an interest payment date by issuing to each Debenture holder PIK Debentures equal to the amount of the interest obligation to be satisfied.

• On Interest Payment Dates falling after September 30, 2009, the Holder shall have the right to receive payment of the Interest Amount, in full on each Interest Payment Date, either in cash or by Payment in Kind (but not in a combination of cash and Payment in Kind, except as otherwise provided herein) at the Holder’s option.

• The Guarantor LP is also reliant on the Swap Providers to provide it with the funds matching its obligations under the Intercompany Loan Agreement and the Covered Bond Guarantee and the Bank has agreed to pay and will receive, as applicable, the breakage fees resulting under the Interest Rate Swap Agreement from a portfolio adjustment resulting from a Payment in Kind.

• The Company shall deliver to the Holder a written irrevocable notice in the form of Exhibit A attached hereto electing to pay such Interest Amount in full on such Interest Payment Date in either cash or Payment in Kind (“Company Payment Election Notice”).

• The Principal Amount owing under this Debenture shall be (i) increased, as of the applicable Interest Payment Date, upon any payment of an Interest Amount by Payment in Kind by an amount equal to such Interest Amount and (ii) decreased, as of the date of redemption, upon the early redemption of all or a portion of the Principal Amount by an amount equal to such Principal Amount that has been so redeemed (each of the events described in clauses (i) and (ii), an “Adjustment Event”).

More Definitions of Payment in Kind

Payment in Kind means the payment to be made by the Borrower to the Lender on the Maturity Date in the amount of five percent (5%) of the original principal amount of the Loan. “Additional PIK” means the amount of 20% of the original principal amount of the Loan to be paid by the Borrower to the Lender in the event that the Loan is not repaid in full on the Maturity Date or upon the occurrence of an Event of Default, unless otherwise agreed to in writing by the Borrower and Lender.

Payment in Kind means non- cash remuneration for work performed, which is received by a worker;

Payment in Kind. Date The meaning given in Section 11.1(c) of the Intercompany Loan Agreement

Payment in Kind means the use of crude oil as payment for transportation tariff and related services in accordance with the agreements for transportation of petroleum and the Host Government Agreement;

Payment in Kind means the material contribution or offering of labour services by a parent to a school;

Payment in Kind. At the Company's option upon written notice to the holder, at the beginning of each quarter, the Company may pay interest for such quarter in the form of increased principal on the Note (in lieu of cash), in which case the interest rate for such quarter shall be the Effective Rate plus 200 bps.

Payment in Kind with respect to any PIK Dividend Payment Date, means the issuance by the Company to each Holder of Series A Preferred Stock that number of additional shares of Series A Preferred Stock that have a Stated Value, as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares, equal to the amount of accrued PIK Dividends on such Holder’s shares of Series A Preferred Stock outstanding as of such PIK Dividend Payment Date. Notwithstanding anything to the contrary contained herein, each Redemption Amount, Liquidation Preference and the number of shares of Series A Preferred Stock convertible hereunder shall be increased in accordance with this Certificate of Designations for all accrued and unpaid PIK Dividends, regardless of whether there has been any Payment-in-Kind with respect thereto.