PIK Period definition

PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) the sixteenth (16th) Payment Date after the first Borrowing Date and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and the sixteenth (16th) Payment Date after the first Borrowing Date).
PIK Period has the meaning set forth in Section 2.06(c)(i).
PIK Period means the period beginning on the First Borrowing Date through and including, the earlier to occur of (i) the nineteenth (19th) Payment Date after the First Borrowing Date (i.e., March 31, 2020), and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and the nineteenth (19th) Payment Date after the First Borrowing Date (i.e., March 31, 2020)).”

Examples of PIK Period in a sentence

  • Any and all such PIK Period Paid-in-Kind Interest so added to the principal amount of the Loans shall constitute and increase the principal amount of the Loans for all purposes under this Agreement, including without limitation, for purposes of calculating any repayment premium under Section 2.03(d) and any exit fee under Section 2.07(b) and shall bear interest in accordance with this Section 2.06.

  • The Obligors agree that all such Default Interest will be payable at the end of the PIK Period and until such payment is made, the Default Interest will accrue interest at 15% per annum during the PIK Period, capitalising on the first day of each month (and the Obligors shall pay all accrued or capitalised amounts in respect of the Default Interest at the end of the PIK Period).

  • At the sole option of Reorganized Congoleum, however, beginning with the interest payment due 12 months after the Effective Date to and including the interest payment due 30 months after the Effective Date (the “PIK Period”), interest may be paid in kind by the issuance of additional New Senior Notes in the aggregate amount of the interest then due and payable on each such payment date within the PIK Period.

  • Any such election shall be deemed to remain in effect until superseded by a subsequent notice delivered as set forth in the preceding sentence, or until the applicable PIK Period has expired.

  • In concluding the first session, Mr. Ivan Fellegi highlighted the following key points: • investment in human resources is critical for the whole office, and cannot be based on cost-benefit considerations only.


More Definitions of PIK Period

PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (i) (A) if only one Borrowing shall be made, the twelfth (12th) Payment Date after the first Borrowing Date, and (B) if more than one Borrowing (other than PIK Borrowings) shall be made, the sixteenth (16th) Payment Date after the first Borrowing Date, and (ii) the date on which any Event of Default shall have occurred (provided that if such Event of Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Event of Default and (x) if only one Borrowing shall be made, the twelfth (12th) Payment Date after the first Borrowing Date), or (y) if more than one Borrowing (other than PIK Borrowings) shall be made, the sixteenth (16th) Payment Date after the first Borrowing Date.
PIK Period means the period beginning on the first Borrowing Date through and including the earlier to occur of (a) the sixteenth (16th) Payment Date after the first Borrowing Date (or if Borrower has achieved the Revenue Milestone, the twenty third (23rd) Payment Date after the first Borrowing Date) and (b) the date on which any Default or Event of Default shall have occurred (provided that if such Default or Event of Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default or Event of Default and the sixteenth (16th) Payment Date (or if Borrower has achieved the Revenue Milestone, the twenty third (23rd) Payment Date) after the first Borrowing Date.
PIK Period shall have the meaning assigned to such term in Section 2.06(d).
PIK Period means the period beginning on the First Borrowing Date through and including, the earlier to occur of (i) (A) if a Qualifying IPO does not occur by the twelfth (12th) Payment Date following the First Borrowing Date, the twelfth (12th) Payment Date after the First Borrowing Date or (B) if a Qualifying IPO does occur by the twelfth (12th) Payment Date following the First Borrowing Date, the sixteenth (16th) Payment Date after the First Borrowing Date, and (ii) the date on which any Default shall have occurred (provided that if such Default shall have been cured or waived, the PIK Period shall resume until the earlier to occur of the next Default and either (A) if a Qualifying IPO does not occur by the twelfth (12th) Payment Date following the First Borrowing Date, the twelfth (12th) Payment Date after the First Borrowing Date or (B) if a Qualifying IPO does occur by the twelfth (12th) Payment Date following the First Borrowing Date, the sixteenth (16th) Payment Date after the First Borrowing Date).
PIK Period shall have mean the period commencing on the Closing Date and ending on the PIK End Date.
PIK Period in Section 1.01 of the Loan Agreement shall be amended and restated in its entirety as follows:
PIK Period has the meaning given to that term in Convertible Note Condition 2.