PIK Option definition

PIK Option has the meaning specified in Section 2.06.

PIK Option shall have the meaning provided in Section 2.2(e).

PIK Option has the meaning assigned to such term in Section 2.13(g).

Examples of PIK Option in a sentence

• The Notes will bear interest at 7.000% per annum (the “Cash Interest Rate”), subject to the PIK Option as described below, as from the Issue Date until the principal thereof is paid or made available for payment.

• Interest accruing on the unpaid principal of this Note (including through the exercise of the PIK Option) for the period commencing June 1, 2006, through final maturity, shall be paid on May 31, 2007, and at final maturity in cash.

• The Notes will bear interest at 7.125% per annum (the “Cash Interest Rate”), subject to the PIK Option as described below, as from the Issue Date until the principal thereof is paid or made available for payment.

• For the period prior to May 31, 2006, interest may, at the option of the Maker, not be paid in cash but be added to the principal hereof on each anniversary of the date of the original issuance hereof (the "PIK Option").

• The Notes will bear interest at 6.000% per annum (the “Cash Interest Rate”), subject to the PIK Option as described below, as from the Issue Date until the principal thereof is paid or made available for payment.

More Definitions of PIK Option

PIK Option has the meaning assigned to such term in Section 3.02(d).

PIK Option means the Company's option to pay up to half of the interest payable on the Securities on any three of the first five interest payment dates in the form of PIK Notes instead of cash.

PIK Option as defined in Section 2.1(c).

PIK Option is defined in SECTION 2.1.

PIK Option as defined in subsection 3.1(d).

PIK Option. Exhibit A; Notes “PIK Payment” 2.01(e) “Parent Issuer” Preamble “Preferred Redemption Cash” Definition of “Closing Date Refinancing” “primary obligations” Definition of “Contingent Obligations” “primary obligor” Definition of “Contingent Obligations”

PIK Option shall have the meaning specified in Section 3. “2026 PIK Interest Payment Due Date” shall have the meaning specified in Section 3. “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified including, without limitation, any general partner, managing member, officer, director, trustee or manager of such person and any venture capital fund, private equity fund, investment firm or registered investment company now or hereafter existing that is controlled by one or more general partners or managing members of, or is under common investment management with, such Person. “Applicable Rate” means, with respect to interest payable on an Interest Payment Due Date for the period since the immediately preceding Interest Payment Due Date (or, if no preceding Interest Payment Due Date, since the Issuance Date) (such period, the “Interest Period”), (a) the greater of (x) Three-Month SOFR Rate plus the Term SOFR Adjustment and (y) 1.00%, plus (b) 9.00%, plus (c) solely in respect of a 2026 PIK Interest Payment Due Date, 2.00%. “Asset Sale Pro Rata Portion” means an amount equal to (a) (i) any Available Excess Proceeds, multiplied by (ii) the fraction obtained by dividing the Outstanding Principal Balance of this Note by the aggregate Outstanding Principal Balances of all then- outstanding Notes. “Average Interest Rate” means, with respect to any period specified in clauses (a) through (d) of the definition of Note Redemption Amount, the average of the interest rates per annum in effect (excluding any Default Rate) on each day for the period beginning on the first day of the period specified in such clause and ending on the day prior to the Redemption