Examples of PIK Interest Payment Date in a sentence
The PIK Interest shall be payable annually in arrears on each PIK Interest Payment Date by issuing to the Holder new notes of the same type in certificated form in an aggregate principal amount equal to the amount of the PIK Interest for the applicable interest period (such new notes, the “PIK Notes”).
If an Interest Payment Date, PIK Interest Payment Date, payment date for principal or other payment date falls on a day other than a Business Day, such payment shall be made on the next Business Day after such day.
The Issuer shall notify Bondholders in accordance with Condition 16 and the Trustee by not later than five London business days prior to each PIK Interest Payment Date of the aggregate principal amount of Additional Bonds to be issued on such PIK Interest Payment Date and of the aggregate principal amount of Bonds, as increased by such Additional Bonds.
Additional Bonds will have the same terms and conditions in all respects as the Initial Bonds except that interest on Additional Bonds will accrue from (and including) the PIK Interest Payment Date on which the relevant Additional Bonds are issued rather than from the Closing Date.
Any Additional PIK Notes shall be issued and delivered to each Holder at the Company's expense on or as soon as practicable (and in any event within 10 days) after the applicable PIK Interest Payment Date.