PIK Interest Amount definition

PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

PIK Interest Amount shall (i) mean the aggregate principal amount of all increases in outstanding principal amount of PIK Notes and issuances of additional “PIK Notes” (as defined in the Senior Notes Indenture) in connection with an election by the Borrower to pay interest on the PIK Notes in kind and (ii) the aggregate principal amount of all increases in outstanding principal amount of Senior Interim PIK Loans in connection with an election by the Borrower to pay interest on the Senior Interim PIK Loans in kind.

PIK Interest Amount has the meaning set forth in Section 2.08(d).

Examples of PIK Interest Amount in a sentence

• 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.

• If the Borrower does not elect to pay any such PIK Interest Amount in cash as set forth in this clause, such PIK Interest Amount shall be paid by increasing the principal amount of the Loan by an amount equal to such PIK Interest Amount as of the applicable Interest Payment Date.

• By written notice to the Administrative Agent at least thirty (30) days prior to each Interest Payment 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.

• By written notice to the Lender at least thirty (30) days prior to each Interest Payment 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.

More Definitions of PIK Interest Amount

PIK Interest Amount means the aggregate principal amount of all increases in outstanding principal amount of New Senior Toggle Notes and issuances of additional New Senior Toggle Notes or “PIK Notes” (as defined in the New Senior Notes Indenture or any similar document) in connection with an election by the Parent Borrower to pay interest in kind.

PIK Interest Amount means the aggregate principal amount of all increases in outstanding principal amount of any Borrower Senior Facility (or any Refinanced Bridge Indebtedness), including any issuances of PIK Notes (as defined in each of the Senior Exchange Note Indenture or any similar document, including any Refinanced Bridge Indebtedness Documentation) in connection with an election by the Borrower to pay interest on any Borrower Senior Facility (or any Refinanced Bridge Indebtedness) in kind.

PIK Interest Amount means (i) the aggregate principal amount of all increases in outstanding principal amount of Senior Unsecured Notes, including any issuances of PIK Notes (as defined in the Senior Unsecured Notes Indenture) in connection with an election by the Borrower to pay interest on the Senior Unsecured Notes in kind, (ii) the aggregate principal amount of all increases in outstanding principal amount of Senior Notes, including any issuances of PIK Notes (as defined in the Senior Notes Indenture) in connection with an election by the Borrower to pay interest on the Senior Notes in kind and (iii) the aggregate principal amount of all increases in outstanding principal amount of loans under the Interim Loan Facility in connection with an election by the Borrower to pay interest under the Interim Loan Facility in kind.

PIK Interest Amount as defined in Section 2.8(a).

PIK Interest Amount means, for any period, the aggregate amount equal to the amount of interest borne by an Initial Loan for such period in excess of 11.50% per annum.

PIK Interest Amount means, with respect to any Interest Payment Date for any Note that is prior to the Maturity thereof and with respect to which the Company has duly made a PIK Interest Election, the portion of the aggregate installment of interest due and payable on such Interest Payment Date that is payable on such Interest Payment Date by issuance of PIK Notes in accordance with Section 2.02(a), such portion being up to one-third of such aggregate installment of interest.

PIK Interest Amount the aggregate amount equal to the amount of interest borne by an Initial Note or a Term Note in excess of the Cash Cap.