PIK Debenture definition

PIK Debenture means the $350,000,000.00 pay-in-kind convertible debenture issued by Rollins in connection with the purchase of certain indirect subsidiaries of LTI.
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PIK Debenture means the Company's $350 million 5% subordinated convertible pay-in-kind debenture, which is due and payable on May 15, 2009.
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PIK Debenture means the 5% Subordinated Convertible Pay-In-Kind Debenture due 2009 dated May 15, 1997 issued by the Company to Laid▇▇▇ ▇▇▇nsportation, Inc.
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Examples of PIK Debenture in a sentence

  • Any certificated PIK Debenture will be issued with the description “PIK” on the face of such security.

  • Each PIK Debenture is a separate debt obligation and shall be governed by, and entitled to the benefits of, the Indenture, shall rank pari passu with and be subject to the same terms as all other Debentures and shall have the benefit of all Liens securing the Debentures.

  • Each such Global Debenture shall be in the principal amount of the aggregate PIK Debentures issued with regard to the outstanding Global Debentures, and each such Fully Registered Debenture shall be in the principal amount of the PIK Debenture, issued on and dated as of the applicable Interest Payment Date.

  • The power of attorney granted hereunder is a power coupled with an interest and shall be irrevocable until the Obligations are indefeasibly paid in full and the Debenture, the PIK Debenture and the Cap Debentures are terminated.

  • Each PIK Debenture is a separate debt obligation and shall be governed by, and entitled to the benefits of, the Indenture, shall rank pari pass with and be subject to the same terms as all other Debentures and shall have the benefit of all Liens securing the Debentures.

  • Each PIK Debenture shall represent the obligation of the Company to pay the amount of such PIK Debenture.

  • Where an Interest Obligation on the Debentures is paid by the issuance of a PIK Debenture, any taxes to be satisfied pursuant to this Section may be satisfied by the delivery of cash or cash equivalents by the Company (and the principal amount of the relevant PIK Debenture will be reduced by a like amount) or by the sale of a portion of the PIK Debentures for cash or cash equivalent proceeds.


More Definitions of PIK Debenture

PIK Debenture means a Debenture issued on account of interest due on Debentures pursuant to Section 2.1(c);
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PIK Debenture has the meaning assigned to it in the Third Recital hereto.
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Related to PIK Debenture

  • UK Debenture has the meaning assigned to that term Section 5.1(b).

  • Convertible Debenture means the 6% convertible debenture dated July 1, 2008 and due July 1, 2011, in the amount of CAD$10,000,000 issued by Orezone to the Debentureholder;

  • Initial Debentures means the Debentures designated as “8.0% Unsecured Convertible Debentures” and described in Section 2.5;

  • Series A Debentures means the [___]% Junior Subordinated Deferrable Interest Debentures due December [__], 2028, Series A, of the Debenture Issuer issued pursuant to the Indenture.

  • Series B Debentures means the Series B 9.50% Junior Subordinated Deferrable Interest Debentures due March 15, 2029 of the Debenture Issuer issued pursuant to the Indenture.