PIK Interest Shares definition

PIK Interest Shares has the meaning set forth in Section 3.1.
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PIK Interest Shares means shares of Common Stock issued in payment of interest on Securities in accordance with Section 3.01 hereof.
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PIK Interest Shares means shares of Common Stock issued in payment of interest on Securities in accordance with Section 3.01 hereof. “Placement Agent” means Lazard Capital Markets LLC.
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Examples of PIK Interest Shares in a sentence

  • If the Holder exercises its Conversion Right upon a Change of Control or Event of Default, the election to receive PIK Interest Shares in lieu of interest accrued shall be at the option of the Holder.

  • With respect to the PIK Interest Shares, when certificates representing the PIK Interest Shares have been duly executed, countersigned, registered, and delivered (or non-certificated PIK Interest Shares shall have been properly issued), then the PIK Interest Shares will be legally issued, fully paid and non-assessable.

  • The Issuer shall comply with all securities laws regulating the offer and delivery of PIK Interest Shares and shares of Common Stock upon conversion of Notes and, if at any time the Common Stock shall be listed on any national securities exchange or automated quotation system, the Issuer shall list upon issuance and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, any PIK Interest Shares or Common Stock issued upon conversion of the Notes.

  • If the Company wishes to deliver PIK Interest Shares in lieu of cash with respect to accrued interest, it must do so with respect to all (but not less than all) of such interest.

  • The Company further covenants that it will take such further action as the Holder may reasonably request, all to the extent required from time to time to enable the Holder to sell Conversion Shares, Warrant Shares, PIK Interest Shares and AIR Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions of counsel to the Company referred to in the Purchase Agreement.

  • The Notes, the Warrants, the AIRs, the Conversion Shares, the Warrant Shares, the AIR Shares and the PIK Interest Shares (as defined in the Notes) are sometimes collectively referred to herein as the "Securities".

  • In connection with the payment of PIK Interest in respect of the Notes, the Issuer will, without the consent of Holders (and without regard to any restrictions or limitations set forth under Section 4.9), issue PIK Interest Shares in accordance with this Indenture.

  • The Company will instruct its transfer agent to issue certificates, registered in the name of each Investor or its nominee, for Conversion Shares, PIK Interest Shares and Warrant Shares in such amounts as specified from time to time by each Investor to the Company issuable in connection with or upon conversion of the Convertible Notes or exercise of the Warrants in accordance with their terms.

  • Nothing in this Section 5.1 will affect in any way the Investors' obligations and agreement set forth in Section 2.7 hereof to comply with all applicable prospectus delivery requirements, if any, upon resale of the Conversion Shares, PIK Interest Shares and Warrant Shares.

  • All PIK Interest Shares issued and shares of Common Stock issued upon conversion of the Notes shall be duly and validly issued, fully paid andnon-assessable and shall be free of preemptive or similar rights and free of any tax, lien or adverse claim (except to the extent of any lien or adverse claim created by the action or inaction of the Holder of such Notes or the Person to whom such shares of Common Stock will be delivered).


More Definitions of PIK Interest Shares

PIK Interest Shares shall have the meaning set forth in the Notes.
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PIK Interest Shares shall have the meaning provided in Section 2(a).
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Related to PIK Interest Shares

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

  • Interest Share Amount shall have the meaning set forth in Section 2(a).

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Final Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency determined by the Calculation Agent equal to the Notional Amount multiplied by:

  • 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.

  • 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).

  • Early Preference Share Redemption Amount means, subject to the provisions of the Articles and the Conditions, in respect of each Preference Share, an amount expressed in the Settlement Currency calculated by the Calculation Agent as the fair market value (calculated without taking into account the creditworthiness of the Company) of a Preference Share as of the Early Preference Share Valuation Date taking into account such factor(s) as the Calculation Agent determines appropriate, including, but not limited to, the relevant Early Preference Share Redemption Event after deducting any Associated Costs (to the extent not already reflected in such fair market value).

  • Class B Warrants means the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to 5 years, in the form of Exhibit C attached hereto.

  • PIK Notes means additional Notes issued under this Indenture on the same terms and conditions as the Notes issued on the Closing Date in connection with the payment of PIK Interest.

  • Conversion Amount means the sum of the Stated Value at issue.

  • Conversion Consideration shall have the meaning specified in Section 14.12(a).

  • Series A Conversion Price shall initially be equal to $0.71. Such initial Series A Conversion Price, and the rate at which shares of Series A Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.

  • Exchange Debentures has the meaning set forth in Section 2(a) hereof.