Examples of PIK Interest Payment Date in a sentence
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.
Where the Bonds are not represented by the Global Bond, any Additional Bonds to be issued to a holder will be delivered to such holder upon presentation by such Bondholder of the Bonds held by it on the relevant PIK Interest Payment Date at the specified office of any Paying and Conversion Agent at any time on or after the relevant PIK Interest Payment Date, provided that such date of presentation is a business day in the place of the specified office of the relevant Paying and Conversion Agent.
Additional Notes will have the same terms and conditions in all respects as the Notes of such Series, except that interest on Additional Notes will accrue from (and including) the PIK Interest Payment Date on which such Additional Notes are issued rather than from the relevant Issue Date of the Notes already in issue.
If interest shall accrue on the Bonds at the Additional Interest Rate pursuant to Condition 4(b), such interest will cease to accrue on the relevant Bonds (in addition tothe circumstances provided in Condition 4(c)(i) or (ii), as applicable) from the PIK Interest Payment Date falling on or immediately following the QIPO Effective Date.