PIK Interest Election Notice definition

PIK Interest Election Notice means a notice provided by the Borrower in accordance with the terms of Section 2.06(a)(ii) and substantially in the form of Exhibit J, or such other form as shall be approved by the Administrative Agent.

PIK Interest Election Notice means a notice provided by the Borrower in accordance with the terms of Section 2.06(a)(ii)(A) and substantially in the form of Exhibit J, or such other form as shall be approved by the Administrative Agent.

PIK Interest Election Notice shall have the meaning provided in Section 4.4(c).

Examples of PIK Interest Election Notice in a sentence

• Notwithstanding the foregoing, each Collateral Shortfall Notice, Borrowing Request, Voluntary Prepayment Notice, Mandatory Prepayment Notice, PIK Interest Election Notice, and any notice delivered pursuant to Section 2.09(e) and any notice of termination or reduction of Commitments may be delivered electronically.

• Unless the Borrower delivers a PIK Interest Election Notice to the Administrative Agent at least three (3) Business Days prior to an Interest Payment Date, the Borrower will, subject to the immediately succeeding clause (B) below, be deemed to have elected for each Interest Period, to make interest payments in cash as set forth in Section 2.06(a)(i).

• If the Borrower has delivered a PIK Interest Election Notice in accordance with the terms of this Section 2.06(a)(ii)(A), on the applicable Interest Payment Date, all accrued and unpaid interest shall be added to the principal amount of the Loans and shall, thereafter, be deemed an extension of additional Loans pursuant to the terms of, and subject to, the Loan Documents.

• Unless the Borrower delivers to the Administrative Agent a PIK Interest Election Notice at least three Business Days prior to the applicable Interest Payment Date, the Borrower will be deemed to have elected for the applicable quarterly period to make interest payments in the form of cash interest.

• Notwithstanding the foregoing, no PIK Interest Election Notice may be provided if an Event of Default pursuant to Section 7.01(f), but without regard to the proviso thereto, with respect to Parent has occurred.

• Notwithstanding the foregoing, no PIK Interest Election Notice may be delivered with respect to the portion of the interest due on the March 15, 2018 Interest Payment Date, representing the Fee Spread and such portion of the interest will be paid in cash on such Interest Payment Date.

More Definitions of PIK Interest Election Notice

PIK Interest Election Notice has the meaning specified in Section 2.03(a).

PIK Interest Election Notice means a notice in the form of Exhibit C-2.

PIK Interest Election Notice means a notice in the form of Exhibit C-2. “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA which is maintained or contributed to by Borrower or its ERISA Affiliate or with respect to which Borrower could incur liability (including under Section 4069 of ERISA).

PIK Interest Election Notice has the meaning specified in Section 2.10(d). 30 #96555161v28 Principal Repaid PIK Interest Per Annum Rate Less than $20,000,000 5.00% At least $20,000,000 but less than $30,000,000 At least $30,000,000 but less than $40,000,000 3.75% At least $40,000,000 but less than $45,000,000 3.50% At least $45,000,000 but less than $50,000,000 3.00% At least $50,000,000 but less than $55,000,000 2.50% At least $55,000,000 but less than $60,000,000 2.00% At least $60,000,000 but less than $65,000,000 1.00% At least $65,000,000 but less than $70,000,000 0.50% $70,000,000 or more 0.00% 4.50%

PIK Interest Election Notice means that certain notice substantially in the form of Exhibit H.