Examples of PIK Portion in a sentence

Each New Cash Pay Note and New PIK Note will be issued under a single indenture as one instrument having both a "Cash Pay Portion" and a "PIK Portion," and the New Cash Pay Notes and New PIK Notes will not trade independently of each other.
All interest due on the Term Loans on any date not constituting the PIK Portion shall be paid in cash.
Any election by the Issuer to pay any portion of the PIK Portion of the interest due on any Interest Payment Date shall apply to all outstanding Term Loans pro rata in accordance with the outstanding principal amounts thereof.
If, during the PIK Period, Borrower elects to pay any or all of the PIK Portion in cash it shall deliver to the Administrative Agent, within five Business Days of each relevant Interest Payment Date, written notice of such election (it being understood that in the absence of any such notice with respect to an Interest Payment Date the Borrower shall be deemed to have elected not to pay interest due in cash).
Amounts in respect of the PIK Portion shall be allocated ratably to the principal amounts of the loans of each Lender in accordance with the aggregate principal amount of outstanding Loans of such Lender at such Interest Payment Date.

More Definitions of PIK Portion

PIK Portion means, with respect to any Interest Period, an amount equal to (a) the Applicable Margin applicable to such Interest Period, minus (b) 3.025% per annum.

PIK Portion of any Note means the principal amount of such Note designated as the "PIK Portion" of such Note.

PIK Portion shall have the meaning assigned to such term in Section 2.06(d).

PIK Portion has the meaning assigned to such term in Section 2.3(d).

PIK Portion has the meaning set forth in Section 2.14 hereof.

PIK Portion is defined in Section 9.8.

PIK Portion has the meaning specified in Section 1.