PIK Dividends definition

PIK Dividends has the meaning set forth in Section 4(a)(i)(B).

PIK Dividends means the shares of Series B Preferred Stock paid or payable as dividends on shares of Series B Preferred Stock in accordance with the applicable certificate of designation with respect thereto.

PIK Dividends means, collectively, the PIK Dividends (as defined in the Series B Certificate of Designations) and the PIK Dividends (as defined in the Series C Certificate of Designations).

Examples of PIK Dividends in a sentence

• Subject to certain limitations, the Reporting Person’s beneficial ownership may increase as a result of quarterly PIK Dividends as described below.

• Whether or not fractional shares would be issuable as Series 1 PIK Dividends shall be determined on the basis of the total number of shares of Series 1 Preferred to be issued as a Series 1 PIK Dividend to any single holder of Series 1 Preferred based on the total shares of Series 1 Preferred held by such holder immediately prior to the payment of such Series 1 PIK Dividend.

• For the avoidance of doubt, Series 1 PIK Dividends shall be paid only in the form of shares of Series 1 Preferred and not in the form of cash.

• If the Net Debt/EBITDAX Quotient is less than 1.50, Dividends contemplated by Section 2(a) shall be paid either in cash (“Cash Dividends”) or as PIK Dividends, subject to the terms of Section 2(b)(i) hereof and the Exit Facility.

• PIK Dividends shall be treated for all purposes as a single series with all other shares of Series A Preferred Stock, and shall have the same designations, rights, preferences, powers, restrictions and limitations as all other shares of Series A Preferred Stock, including, without limitation, with respect to the accrual and payment of dividends or distributions.

More Definitions of PIK Dividends

PIK Dividends means the "paid-in-kind" dividends as set forth in subparagraph 2(a) below.

PIK Dividends has the meaning set forth in the Series A Certificate of Designations.

PIK Dividends means cumulative dividends payable with respect to the Series A Preferred Stock in the form of additional shares of Series A Preferred Stock.

PIK Dividends means any increase in the stated value of the shares of Series A Preferred Stock as a dividend on the Series A Preferred Stock in accordance with the Series A Certificate of Designations. All references to the Series A Preferred Stock or the shares of the Series A Preferred Stock in this Agreement shall be deemed to include any increased stated value on the shares of Series A Preferred Stock as a result of the PIK Dividends.

PIK Dividends means the paid-in-kind dividends as set forth in subparagraph 2(b) below.

PIK Dividends means dividends paid in the form of issuance of additional shares of Series A-1 Preferred, calculated by dividing, for each share of outstanding Series A-1 Preferred, (i) the amount of PIK Dividends accrued at the PIK Dividend Rate by (ii) the Original Issue Price.

PIK Dividends means securities paid in kind as dividends on securities in accordance with the Company's Amended Articles of Incorporation.