PIK Bonds definition

PIK Bonds means the PIK bonds to be issued by the Issuer (including any bonds issued by a Subsequent PIK Bond Issue) and held by one or a group of investors to be applied pro rata towards the same purposes (and at the same time(s)) as the Initial Bond Issue, to be secured on a second lien basis (ranking in respect of Enforcement Proceeds behind any obligations arising under the SSRCF Finance Documents, any Permitted Hedging Obligations, the Finance Documents and any New Debt (as set out in the Intercreditor Agreement).
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PIK Bonds means the Company’s Senior Secured Floating Rate Bonds due 2012, issued pursuant to Section 2.02(c)(ii).
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PIK Bonds means any Bonds issued pursuant to Clause 8(c) after the First Issue Date on one or more occasions.
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Examples of PIK Bonds in a sentence

  • Any Enforcement Proceeds will first be applied towards repayment of the Financial Indebtedness incurred by the Issuer under the Super Senior Debt, secondly towards redemption of the Bonds and thirdly towards redemption of the PIK Bonds.

  • The distributions of PIK Bonds will be subject to rounding by VPS.

  • The Bonds and the PIK Bonds will be interest bearing from and including the Settlement Date.

  • No fractional PIK Bonds will be distributed to individual Bondholders.

  • A portion of the Collateral Debt Securities will consist of CDO Securities, many of which may constitute PIK Bonds (which permit the deferral of interest even though such deferral does not result in the occurrence of an event of default or other similar event that would permit the holders of such Collateral Debt Securities to exercise remedies).

  • Clause 9.4 of the Bond Terms which provides for an additional Margin of 1% to be settled by PIK Bonds shall be amended to a cash margin from the Interest Period commencing 4 January 2021 and onwards, reading as follows:The Issuer shall pay an additional Margin of 1.00% p.a. accruing from and including 6 April 2020 until Maturity Date.

  • This Margin shall be settled by the delivery of PIK Bonds to the Bondholders in the CSD until but not including the Interest Period commencing 4 January 2021 and be settled in cash for this Interest Period and onwards.

  • Of the Company’s $5.3 million of total cash and cash equivalents at December 31, 2017 (2016: $4.4 million) $2.2 million was held in GEP’s restricted accounts (December 31, 2016: $nil).In the year ended December 31, 2017 PIK Bonds of $17.6 million and $2.1 million were issued under the Senior Bonds and Super Senior Bonds agreements, respectively, to pay semi‐annual coupon interest which came due in the year ended December 31, 2017.

  • No fractional PIK Bonds will be allocated to individual Bondholders.

  • Furthermore, no payment of management fees will be permitted until the expiry of the waiver period and no prepayment of the NOK 40,000,000 Shareholder Loans will be permitted until an amount equivalent to the total nominal amount of the PIK Bonds has been repaid, the Increased WCF Commitment has been repaid and cancelled in full and the undertaking to clean down the WCF has been reinstated.


More Definitions of PIK Bonds

PIK Bonds means Super Senior Secured Bonds issued as settlement for interest, as defined in the Super Senior Secured Bond Term Sheet Clause 7.
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PIK Bonds means the Bonds to be issued subsequently on each Interest Payment Date as settlement for Interest Payments.
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PIK Bonds means bonds issued pursuant to any option the Company may have as a term of any series of bonds to satisfy the obligation of the Company to pay interest on such series of bonds on any or all specified interest payment dates. Any PIK Bonds shall have the same terms, including rate of interest and maturity, as those of the series of bonds in respect of which such PIK Bonds are issued, unless the supplemental indenture providing for the issuance of such PIK Bonds provides otherwise. The term “prior lien” as used herein shall not include the lien of the 1944 Mortgage.
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Related to PIK Bonds

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.

  • 2028 Notes means the Borrower’s $650,000,000 aggregate principal amount notes due June 13, 2028, issued in June 2023 and July 2023.

  • PIK Notes means Additional Notes issued under this Indenture in connection with a PIK Payment, with the same terms as the Initial Notes, except that interest on any PIK Notes shall accrue from their date of issuance.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • 2015 Notes means the 8.375% senior notes due 2015 in the principal amounts of $615 million and €500 million issued pursuant to the 2015 Notes Indenture.

  • 2021 Notes means the 4.700% Senior Notes due 2021, originally issued by Ensco plc (now Valaris), a public limited company organized under the laws of England and Wales.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • 2014 Notes means the aggregate principal amount of US$399,517,000 of 10.25% Guaranteed Senior Notes Due 2014 issued pursuant to the 2014 Note Indenture.

  • 2029 Notes has the meaning specified in the recitals of this Supplemental Indenture.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • 2022 Notes means the 6.25% Senior Notes due 2022 issued by the MLP and Finance.

  • Term Bonds means those Bonds designated as such and maturing on the date or dates set forth in the Certificate of Award, bearing interest payable on each Interest Payment Date and subject to mandatory sinking fund redemption.

  • Existing Bonds means the following obligations of Seller:

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • 2020 Notes means the 6.875% Senior Notes due 2020, issued by Pride International LLC, a Delaware limited liability company.

  • 2018 Notes means the Company’s 7.75% Senior Subordinated Notes due 2018 issued under the Indenture dated December 14, 2010 among the Company, Holdings and the subsidiary guarantors from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee.

  • 2023 Notes means the 6 7/8% Notes due 2023 issued by NTL pursuant to the 1988 Indenture.

  • 2016 Notes means the aggregate principal amount of US$460,000,000 of 4.25% Convertible Senior Notes Due 2016 issued pursuant to the 2016 Note Indenture.

  • 2017 Notes means the aggregate principal amount of US$600,000,000 of 6.25% Guaranteed Senior Notes Due 2017 issued pursuant to the 2017 Note Indenture.

  • Serial Bonds means those Bonds designated as such and maturing on the dates set forth in the Certificate of Award, bearing interest payable on each Interest Payment Date and not subject to mandatory sinking fund redemption.

  • School Bonds means School Obligations issued as Bonds.

  • 2011 Notes means those certain notes issued pursuant to the Note Purchase Agreement dated as of March 22, 2011 among the Company and the purchasers named in Schedule A thereto.

  • Convertible Bonds means the $450,000,000 1.875 per cent senior unsecured guaranteed convertible bonds due 2025 and issued by NMC Health (Jersey) Limited, including the transactions contemplated under the Transaction Documents (as defined in the Convertible Bond Trust Deed);

  • Prior Bonds means the assessment bonds that are refunded in part or in whole by refunding assessment bonds.