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Any such election shall be deemed to remain in effect until superseded by a subsequent notice delivered as set forth in the preceding sentence, or until the applicable PIK Period has expired.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