PIK Election Notice means a written notice made by the Issuer to the Debenture Trustees specifying (i) the Interest Obligation to which the PIK Election relates, and (ii) the amount of the Interest Obligation subject to the PIK Election.
PIK Election Notice as defined in Section 2.8(d).
PIK Election Notice means a written request by the Borrower in the form of Exhibit E attached hereto.
Examples of PIK Election Notice in a sentence
If the Borrower does not deliver (or is not deemed to have delivered) a PIK Election Notice in accordance with the immediately preceding sentence, the interest on the Loans will be payable on the related Interest Payment Date entirely in cash.
More Definitions of PIK Election Notice
PIK Election Notice is defined in Section 2.3(a)(iv).
PIK Election Notice means a written notice made by the Issuers to the Trustee specifying (i) the obligation to pay interest and Interest Payment Date to which the PIK Election relates, (ii) the amount of interest subject to the PIK Election and (iii) directing the Trustee to authenticate and issue such PIK Notes.
PIK Election Notice has the meaning specified in Section 2.13(f). “PIK Interest” means a payment of interest with respect to such Loan in-kind in arrears by increasing the outstanding principal amount of such Loan on the relevant Interest Payment Date by the amount of accrued and unpaid interest due and payable on such date. PIK Interest that is capitalized and added to the principal amount of the Loans and shall thenceforth be considered principal for all purposes hereunder (and shall bear interest in accordance with Section 2.13) such date. “PIK Repayment Maturity Date” means the earlier of (i) December 31, 2025 and (ii) the date on which the Aggregate PIK Amount is paid in full in cash. “PIK Repayment Period” means the period commencing on the first Interest Payment Date after the First Amendment Effective Date and ending on the PIK Repayment Maturity Date. “PIK Election” has the meaning specified in the definition of “Applicable Rate”. “PIK Election Notice” has the meaning specified in Section 2.13(f). “PIK Toggle Period” means, the fourseven Interest Periods occurring after the First Amendment Effective Date, commencing onwith the Interest Period ending on September 30, 2023 and up to and including the Interest Period ending on March 31, 2025.
PIK Election Notice has the meaning specified in Section 2.13(f). “PIK Toggle Period” means, the fourseven Interest Periods occurring after the First Amendment Effective Date, commencing onwith the Interest Period ending on September 30, 2023 and up to and including the Interest Period ending on March 31, 2025.
PIK Election Notice shall have the meaning set forth in Section 2.3.1(b).