PIK Interest definition

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

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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.

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.

Examples of PIK Interest in a sentence

• Notwithstanding anything to the contrary contained herein, accrued and unpaid interest on the Term Loans as of November 30, 2025 in the amount of $13,622,627.74 shall be paid as PIK Interest.

• PIK Interest shall be payable in king to the Holder of this Note on the Maturity Date by capitalizing such PIK Interest and adding it to (and thereby increasing) the outstanding principal amount of this Note.

• PIK Interest on the Term Loans shall be capitalized and added to the outstanding principal amount of the Term Loans by increasing the outstanding principal amount of each Term Loan to which such interest relates on each Payment Date with respect to the most recently completed Interest Period.

• The entire outstanding principal amount of the Term Loans (including accrued and uncapitalized PIK Interest on the Term Loans), together with all accrued and unpaid interest thereon, will be due and payable on the Maturity Date.

• For the avoidance of doubt, effective as of, and from and after, the Maturity Date, the outstanding principal amount of this Note shall be increased by the amount of PIK Interest paid in kind for all purposes of this Note.

More Definitions of PIK Interest

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

PIK Interest has the meaning set forth in Section 3.4(a)(ii).

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

PIK Interest means interest on the Loan Obligations due on any Interest Payment Date, which, at the election of B▇▇▇▇▇▇▇ is paid in kind by increasing the principal amount of the outstanding Loans.

PIK Interest has the meaning assigned to such term in Section 2.13(d).

PIK Interest is defined in Section 2.3(a).

PIK Interest. Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues, provided, that the interest of any Loan that is paid with the proceeds of a permitted drawing on a Revolving Loan shall not constitute PIK Interest.