PIK Percentage definition

PIK Percentage means, as to any date, the amount determined by subtracting the Cash Percentage with respect to such date from 2.4375%.
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PIK Percentage means 9.0% per annum, provided however, in the event of a -------- ------- Merger Termination Event, the PIK Percentage will immediately increase to 13% and will increase by an additional 0.5% on the day following each Dividend Payment Date thereafter, but in no event shall the PIK Percentage exceed 18.0%.
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PIK Percentage has the meaning specified in Section 2.08(c).
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Examples of PIK Percentage in a sentence

  • No adjustment in the PIK Percentage shall be made until the full $2,000,000 prepayment has been made.

  • Subject to the provisions of Section 2.4, the Term Loan shall bear interest at a per annum rate equal to the sum of (i) the Applicable PIK Percentage plus (ii) the Applicable Cash Percentage.

  • The Loans (including any PIK Amount added to the principal amount of the Loans) shall bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 8.00% plus, on and after May 30, 2020, the PIK Percentage, but in no event to exceed the Highest Lawful Rate.

  • In the event of any prepayments in addition to those referred to in the preceding paragraph, the PIK Percentage shall be further reduced by one-third of one percent for each "qualifying optional prepayment" by the Company of $1,000,000 in principal amount of the Notes pursuant to Section 8.2 on or prior to September 30, 2000.


More Definitions of PIK Percentage

PIK Percentage means 2.00% per annum.
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PIK Percentage means (i) in the case of the A Term Loan Facility and the Revolving Loan Facility, 2.00%, (ii) in the case of the B Term Loan Facility, 3.00%, (iii) in the case of the C Term Loan Facility, 3.50%, and (iv) in the case of the D Term Loan Facility, 3.75%.
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PIK Percentage is defined in Section 9.8.
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PIK Percentage means six percent (6%); provided, however, that in the event that the Consolidated Debt to EBITDA Ratio for any four fiscal quarter period is less than 3.50 to 1.0, as evidenced by a written certification of a Responsible Officer delivered in accordance with Section 4.2, the PIK Percentage for the fiscal quarter in which such certification is delivered shall mean five and one-half of one percent (5.5%).
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Related to PIK Percentage

  • Cash Percentage shall have the meaning specified in Section 14.02(a)(iii).

  • Revolving Percentage as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment then constitutes of the Total Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Loans then outstanding constitutes of the aggregate principal amount of all Revolving Loans then outstanding; provided that in the event that the Revolving Loans are paid in full prior to the reduction to zero of the Total Revolving Commitments, the Revolving Percentages shall be determined in a manner designed to ensure that the other outstanding Revolving Extensions of Credit shall be held by the Revolving Lenders on a comparable basis.

  • Term Loan Percentage means, for each Lender, the percentage of the Term Loan Commitments represented by such Lender’s Term Loan Commitment or, if the Term Loan Commitments have been terminated or have expired, the percentage held by such Lender of the aggregate principal amount of all Term Loans then outstanding.