PIK Interest Note definition

PIK Interest Note has the meaning specified in Section 2.15.
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PIK Interest Note means a promissory note of the Borrower, payable to the order of the Lender, substantially in the form of Exhibit A-3, evidencing the aggregate Indebtedness of the Borrower to the Lender resulting from the capitalization of accrued interest payable on the Loans pursuant to Section 2.5(b).
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PIK Interest Note means any payment-in-kind subordinated note of ----------------- Universal (substantially in the form of Exhibit I to Exhibit A-2 of the Redemption Agreement) issued pursuant to Section 2 of the PIK Note, or any note which could be issued in substitution for any such PIK Interest Note.
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Examples of PIK Interest Note in a sentence

  • Any certificated PIK Interest Notes shall be issued with the description “PIK” on the face of such PIK Interest Note.

  • Any PIK Interest Note shall, after being executed and authenticated pursuant to Section 2.04 hereof, be mailed or delivered via overnight courier to the Person entitled thereto as shown on the register for the Physical Notes as of the relevant Regular Record Date.

  • Any PIK Interest Note shall, after being executed and authenticated pursuant to Section 2.02 hereof, be mailed to the Person entitled thereto as shown on the register for the Definitive Notes as of the relevant Record Date.

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  • Any PIK Interest Note shall, after being executed and, if applicable, authenticated pursuant to Section 303 hereof, be (i) if such PIK Interest Notes are Definitive Notes, mailed to the Person entitled thereto as shown on the register for the Definitive Notes as of the relevant Regular Record Date or (ii) if such PIK Interest Notes are Global Notes, deposited into the account specified by the Holder or Holders thereof as of the relevant Regular Record Date.

  • If any Physical Notes in a denomination greater than $1,000 (or $1.00 with respect to a PIK Interest Note) shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of the Physical Notes so surrendered, without charge, new Physical Notes in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Physical Notes.

  • Any PIK Interest Note shall, after being executed and authenticated pursuant to Section 2.04 hereof, be mailed to the Person entitled thereto as shown on the register for the Physical Notes as of the relevant Regular Record Date.

  • Any PIK Interest Note shall, after being executed and, if applicable, authenticated pursuant to Section 2.02 hereof, be (i) if such PIK Interest Notes are Definitive Notes, mailed to the Person entitled thereto as shown on the register for the Definitive Notes as of the relevant Record Date or (ii) if such PIK Interest Notes are Global Notes, deposited into the account specified by the Holder or Holders thereof as of the relevant record date.

  • The Lender is hereby authorized to endorse on the grid attached to the PIK Interest Note the amount of interest capitalized and evidenced by the PIK Interest Note.

  • In addition, upon such termination and the payment in full to the Lender of the Loans, the PIK Interest Note and the accrued interest thereon, the Borrower shall have no further obligations hereunder, in any other Loan Documents or the Investment Agreement (other than as expressly provided for in the Investment Agreement), including the Termination Payment, the Commitment Fee or the obligation to reimburse the Lender’s costs and expenses as provided in Section 10.4.


More Definitions of PIK Interest Note

PIK Interest Note has the meaning set forth in the DIP Facility;
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PIK Interest Note has the meaning assigned to such term in Section 2.4(b).
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PIK Interest Note shall have the meaning given in Section 1.03(b) of this Second Supplemental Indenture. “PIK Notice” shall have the meaning given in Section 1.03(b) of this Second Supplemental Indenture. “PIK Payment” shall have the meaning given in Section 1.03(b) of this Second Supplemental Indenture. “Redemption Date” means the date fixed for the redemption of the 2027 Notes by or pursuant to the Indenture. “Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the preceding January 12, April 12, July 12 and October 12, as the case may be (whether or not a Business Day). “Stated Maturity” means April 27, 2027.
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PIK Interest Note. 2.01(a) “PIK Notice” 4.01 “PIK Payment” 2.01(a) “Register” 2.03 “Registrar” 2.03
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PIK Interest Note means a Note evidencing the obligation to pay PIK Interest issued in accordance with Section 3.1(d).
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PIK Interest Note has the meaning given to the term in Section 2.6(d).
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Related to PIK Interest Note

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

  • 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 Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • PIK Loan means a Loan that permits the Obligor thereon to defer or capitalize any portion of the accrued interest thereon.

  • REMIC Certificate Maturity Date The "latest possible maturity date" of the Regular Certificates as that term is defined in Section 2.07.

  • Shelf Additional Interest Date shall have the meaning set forth in Section 2(d) hereof.

  • Interest Date means the last day of an Interest Period.

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Class C Additional Interest is defined in Section 4.1(c).

  • PIK Amount means, as of any date of determination, the amount of all interest accrued with respect to the Loans that has been paid in kind by being added to the balance thereof in accordance with Section 2.04(b).

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Accrued Class B Note Interest means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).

  • Accrued Note Interest means, for a Class and a Payment Date, the sum of the Note Monthly Interest and the Note Interest Shortfall.

  • Certificate Principal Amount With respect to any Certificate (other than the Interest-Only Certificates and the Class R and Class LT-R Certificates) and any Distribution Date, the maximum specified dollar amount of principal to which the Holder thereof is then entitled hereunder, such amount being equal to the initial principal amount set forth on the face of such Certificate, less (i) the amount of all principal distributions previously made with respect to such Certificate; (ii) the principal portion of all Realized Losses previously allocated to such Certificate; and (iii) any Certificate Writedown Amount previously allocated to such Certificate; provided, however, that on any Distribution Date on which a Subsequent Recovery is distributed, the Certificate Principal Amount of any Certificate then outstanding to which a Certificate Writedown Amount or Realized Loss amount has been applied will be increased sequentially, in order of seniority, by an amount equal to the lesser of (A) the principal portion of any Certificate Writedown Amount or Realized Loss amount previously allocated to that Certificate to the extent not previously recovered and (B) the principal portion of any Subsequent Recovery allocable to such Certificate after application (for this purpose) to more senior Classes of Certificates pursuant to this Agreement; and provided further that on any Distribution Date on which the Aggregate Stated Principal Balance of the Mortgage Loans exceeds the aggregate Certificate Principal Amount, such excess (including any excess attributable to the allocation of Principal Forbearance Amounts) will be allocated to increase the Certificate Principal Amount of any Certificate then outstanding to which a Certificate Writedown Amount or Realized Loss amount has previously been allocated, sequentially in order of seniority, up to the principal amount of such Certificate Writedown Amount or Realized Loss to the extent not previously recovered. The Interest-Only Certificates and the Class R and Class LT-R Certificates are issued without Certificate Principal Amounts.

  • Accrued Class A Note Interest means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Accrued Class D Note Interest means, with respect to any Payment Date, the sum of the Class D Noteholders’ Monthly Accrued Interest for such Payment Date and the Class D Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.