PIK Component definition

PIK Component means (i) if Grid Level 2 (as set forth in the definition of Applicable Rate) is applicable, 0.50% per annum, or (ii) if Grid Level 3 (as set forth in the definition of Applicable Rate) is applicable, 1.00% per annum.”
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PIK Component means the portion of the outstanding principal balance of a Loan Asset which represents interest which has accrued in kind and has been added to the principal balance of such Loan Asset.
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PIK Component has the meaning set forth in Section 2.6(g).”
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Examples of PIK Component in a sentence

  • PIK Component Interest and Default PIK Component Interest, as applicable, shall be calculated on each Interest Payment Date and shall be capitalized by adding it to the outstanding principal amount of the Loans on such Interest Payment Date.

  • Interest on all outstanding Loans shall be payable on the last day of each Interest Period applicable thereto and on the Maturity Date, and Margin PIK Component of the Applicable Margin, to the extent elected by the Borrower to be paid in kind pursuant to clause (a) above, shall be added to the principal amount on each such date.

  • On any interest payment date, so long as no Default or Event of Default exists, the Borrower may elect to pay in kind, in lieu of in cash, a portion of the interest then due in an amount up to the Margin PIK Component for such Interest Period.

  • For the avoidance of doubt, the PIK Component accrued with respect to any Loans prepaid or repaid at any time prior to the date on which such PIK Component capitalises will be payable in cash together the relevant amount being so repaid or prepaid on the relevant prepayment or repayment date.


More Definitions of PIK Component

PIK Component means the portion of the Applicable Rate which shall be paid in kind.
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Related to PIK Component

  • Class C Component The Component having such designation.

  • Class D Component The Component having such designation.

  • Class E Component The Component having such designation.

  • Principal Component The principal payment plus any interest payments that are either due after the date specified in, or are specified as ineligible for stripping in, the applicable Supplemental Agreement.

  • Class B Component The Component having such designation.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • Corresponding Component As identified in the Preliminary Statement with respect to any Class of Non-Vertically Retained Principal Balance Certificates or Lower-Tier Regular Interest.

  • Class A-S Component The Component having such designation.

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.

  • Class A-4 Component The Component having such designation.

  • Class A-2 Component The Component having such designation.

  • Cash Component means the difference between the aggregate Net Asset Value of the Units comprising an Application Unit and the Application Basket Value.

  • Component means an article, material, or supply incorporated directly into an end product.

  • Class A-3 Component The Component having such designation.

  • Class A-1 Component The Component having such designation.

  • Index Component means those securities, assets or reference values of which the Index is comprised from time to time.

  • Dilution Volatility Component means, at any time, the product (expressed as a percentage) of (i) the difference between (a) the highest three-month rolling average Dilution Ratio over the 12-month period then most recently ended and (b) the Adjusted Dilution Ratio, and (ii) a fraction, the numerator of which is equal to the amount calculated in (i)(a) of this definition and the denominator of which is equal to the amount calculated in (i)(b) of this definition.

  • Basket Componenti means the respective share as specified in § 1 of the Product and Underlying Data.

  • Basket Component means each of the SPDR S&P 500 ETF Trust, iShares Russell 2000 Index Fund, iShares MSCI EAFE Index Fund, and iShares MSCI Emerging Markets Index Fund.

  • Accrual Components As specified in the Preliminary Statement.

  • Structural component means a component that supports non-variable forces or weights (dead loads) and variable forces or weights (live loads).

  • M2 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 81.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Component Notional Amount Not applicable.

  • Service Component means certain enabling Software, hardware peripherals and associated documentation which may be separately provided by Symantec as an incidental part of a Service.

  • Cumulative Compounded RFR Rate means, in relation to a Loan (or any part of it) accruing interest at the Compounded Reference Rate, the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15C (Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.