PIK Election definition

PIK Election has the meaning specified in Section 2.13(f).

PIK Election as defined in Section 2.7(d).

PIK Election has the meaning set forth in Section 2.05(d).

Examples of PIK Election in a sentence

• Irrespective of the date a PIK Election Notice is made, the actual payment in kind will occur on the applicable Interest Payment Date.

• If a PIK Election Notice electing to pay interest in kind is made, on the applicable Interest Payment Date, the amount elected to be paid in kind will be capitalized, compounded and added to the unpaid principal amount of this Note effective as of such Interest Payment Date.

• Unless otherwise consented to in writing by the Holder, if the Issuers fail to deliver a PIK Election Notice to Holder on or before the date specified above for such notice and do not make an interest payment in cash on the applicable Interest Payment Date for all interest due, it shall be deemed that the Issuers have elected to pay the balance of the interest due on the applicable Interest Payment Date in kind.

• The Parent Guarantor shall issue any such Additional Warrants at the time of each such PIK Election.

• Unless otherwise notified at least five Business Days prior to the applicable Interest Payment Date (and in the absence of an Event of Default), the Borrower will be deemed to have made a PIK Election with respect to all of the interest due on any Interest Payment Date.

More Definitions of PIK Election

PIK Election shall have the meaning set forth in Section 2.06(d).

PIK Election has the meaning set forth in Section 1.1(b).

PIK Election means an election by the Issuer to satisfy an Interest Obligation on the applicable Interest Payment Date by issuing PIK Debentures in accordance with Article 5.

PIK Election means an election by the Borrower pursuant to a written notice delivered to the Administrative Agent to pay accrued and unpaid interest on the Initial Term Loans in-kind by capitalizing and adding such amount of accrued interest to the principal balance of such Initial Term Loans on the applicable Interest Payment Date, which PIK Election shall be delivered at least three days prior to the applicable Interest Payment Date and shall identify the Interest Period or Interest Periods for which such PIK Election shall be applicable.

PIK Election means an election by the Borrower to pay PIK Interest in accordance with Section 2.13(a)(i)(B) or 2.13(b)(i)(B).

PIK Election shall have the meaning provided for in Section 4.3.1(b).

PIK Election is defined in Section 7.1(b)(ii).