Examples of PIK Rate in a sentence

Since March 2017, the Debtors have paid interest on the 1.75 Lien Term Loan Facility at the PIK Rate through both PIK Shares and PIK Notes.
The 1.75 Lien Term Loan Facility bears interests at a Cash Rate of 12.5 percent per annum, and a PIK Rate of 15 percent per annum.
By way of example only, if the Prevailing PIK Rate was 1.25% and the ARR Ratio for the quarter ending December 31, 2021 is determined to be less than 0.55:1.00 based on the Company’s financial statements filed with its report on Form 10-K on March 10, 2022, then (A) the PIK Adjustment Date shall be April 1, 2022 and (B) the New PIK Rate shall be 1.00% (which is the PIK Rate corresponding to the ARR Ratio that is less than 0.55:1.00).
Amounts outstanding under the Credit Agreement shall continue to bear interest at either LIBOR or the base rate, as elected by the Company, plus an applicable margin, plus, after the effective date of the Fifth Amendment, a “paid in kind” rate, or PIK Rate, of 2.75%.
Until such time as the Borrower notifies the Administrative Agent in writing that it is electing the Cash Rate, the Borrower will be deemed to have elected the PIK Rate for the Term Loan B.

More Definitions of PIK Rate

PIK Rate means 2.00% per annum.

PIK Rate means for any day, a per annum rate of interest equal to (a) as of the Closing Date, 1.00% and (b) (i) if the ARR Ratio as of the last date of any calendar quarter is less than 0.55 to 1.00, one percent (1.00%) and (ii) if the ARR Ratio as of the last date of any calendar quarter is 0.55 to 1.00 or greater, one and one-quarter of one percent (1.25%).

PIK Rate means 1.50% per annum.

PIK Rate means the Preferential Dividend Rate plus 1.00%.

PIK Rate means a rate per annum equal to 1.0%.

PIK Rate has the meaning specified in Section 2.05(a)(ii).

PIK Rate a rate per annum equal to 3.50%.