PIK Dividend definition

PIK Dividend means a dividend accrued on each share of Series A-1 Preferred Stock and paid in shares (including fractional shares) of Series A-1 Preferred Stock.

PIK Dividend means, with respect to any Preferred Stock of any Person, any dividend or other distribution accrued, declared or paid on or in respect of such Preferred Stock in accordance with its terms, which dividend or other distribution (i) consists entirely of Equity Interests of such Person or (ii) accrues but does not become payable unless and until the occurrence of (x) the liquidation or dissolution of such Person or a Deemed Liquidation Event or (y) a redemption of such Preferred Stock (such dividend or distribution described in this clause (ii) being an “Accruing Dividend”).

PIK Dividend has the meaning set forth in Section 4(c).

Examples of PIK Dividend in a sentence

• For the avoidance of doubt, to the fullest extent permitted by Law, the Shareholder hereby waives, and agrees not to exercise, any rights relating to, including any rights to receive, any portion of the PIK Dividend (under and as defined in the Series B Conversion Agreement, Series B Voting Agreement and the Company Articles, in each case) accrued or payable, or deemed to have been accrued or payable from and after the date hereof and until the Expiration Time (the “Accrued Dividend”).

• To the fullest extent permitted by Law, the Shareholder hereby waives, and agrees not to exercise, any rights relating to, including any rights to receive, the Interim PIK Dividend (under and as defined in the Series B Conversion Agreement and the Series B Voting Agreement, in each case) and the Pro Rata PIK Dividend (under and as defined in the Company Articles) that the Shareholder may directly or indirectly have by virtue of the ownership of any Company Series B Preferred Shares.

More Definitions of PIK Dividend

PIK Dividend shall have the meaning set forth in Section 3(a).

PIK Dividend shall have the meaning ascribed to it in Section (C) of Article IV.

PIK Dividend means any and all dividends on the Closing Shares payable in additional shares of Series X Preferred pursuant to the Certificate of Designations.

PIK Dividend has the meaning set forth in the recitals hereof.

PIK Dividend has the meaning set forth in the Certificate of Designation. “Registration Rights Agreement” means that certain Registration Rights Agreement to be entered into by the Company and the Investor, the form of which is set forth as Exhibit B hereto. “Required Holders” has the meaning set forth in the Certificate of Designation. “Requisite Stockholder Approval” has the meaning set forth in the Certificate of Designation.

PIK Dividend has the meaning ascribed to it in the Series E Preferred Articles Supplementary.

PIK Dividend means, with respect to any Preferred Stock of any Person, any dividend or other distribution accrued, declared or paid on or in respect of such Preferred Stock in accordance with its terms, which dividend or other distribution (i) consists entirely of Equity Interests of such Person or (ii) accrues but does not become payable unless and until the occurrence of (x) the liquidation or dissolution of such Person or a Deemed Liquidation Event or (y) a redemption of such Preferred Stock (such dividend or distribution described in this clause (ii) being an “Accruing Dividend”).”