PIK Interest definition

PIK Interest has the meaning specified in Section 2.05(a).

PIK Interest means interest accrued on a Loan Asset that is added to the principal amount of such Loan Asset instead of being paid as interest as it accrues.

PIK Interest means interest on the Notes payable by increasing the principal amount of the Notes or by issuing PIK Notes.

Examples of PIK Interest in a sentence

• Interest (other than PIK Interest as described below) will be payable in arrears in Dollars on each Interest Payment Date (as defined below).

• In accordance with Section 2.09(e), the principal amount of the Loan shall also be increased on each Interest Payment Date by the PIK Interest Amount with respect to such Interest Payment Date unless the Borrower pays such PIK Interest Amount in cash on such Interest Payment Date pursuant to an election to do so in accordance with Section 2.09(e).

• By written notice to the Administrative Agent at least thirty (30) days prior to each Interest Payment Date (or, with respect to the first Interest Payment Date following the Funding Date, on or prior to the Funding Date), the Borrower may elect to pay all of the PIK Interest Amount in respect of such Interest Payment Date in cash on such Interest Payment Date.

• PIK Interest on the Notes shall be paid in minimum denominations of $1.00 and integral multiples thereof, rounded up to the nearest $1.00.

• Unless the context otherwise requires, for all purposes hereof, references to “principal amount” of Loans refers to the original face amount of the Loans plus any increase in the principal amount of the outstanding Loans as a result of payments of PIK Interest.

More Definitions of PIK Interest

PIK Interest shall have the meaning ascribed to such term in Section 2(a) of this Note.

PIK Interest shall have the meaning set forth in Section 2.11(d).

PIK Interest has the meaning set forth in Section 3;

PIK Interest shall have the meaning assigned to such term in Section 2.06(d).

PIK Interest is defined in Section 2.3(a).

PIK Interest means any paid-in-kind interest, fees or other amounts paid or payable in kind in connection with the Loans.

PIK Interest means interest paid with respect to the Notes in the form of increasing the outstanding principal amount of the Notes or issuing PIK Notes.