Examples of PIK Portion in a sentence
Each New Cash Pay Note and New PIK Note will be issued under the New Notes 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.
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.
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.
NEW NOTES means the new senior secured notes to be issued by the Reorganized Debtor pursuant to the New Notes Indenture, each of which will have both a "Cash Pay Portion" and a "PIK Portion." In the event only a New Cash Pay Note is to be issued to a particular holder, the "PIK Portion" of the New Note issued will be zero, and in the event only a New PIK Note is to be issued to a particular holder, the "Cash Pay Portion" of the New Note issued will be zero.