PIK Rate means 4% per annum.
PIK Rate means the Preferential Dividend Rate plus 2.25%.
PIK Rate means the per annum rate equal to (a) Adjusted Term SOFR, plus (b) the Applicable Margin, minus (c) 10% per annum.
Examples of PIK Rate in a sentence
Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the PIK Rate or the Cash Rate, as applicable, divided by a three hundred sixty (360) day year by (c) the outstanding principal balance.
More Definitions of PIK Rate
PIK Rate means 2.00% per annum.
PIK Rate means 1.50% 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 the Preferential Dividend Rate plus 1.00%.
PIK Rate has the meaning specified in Section 2.05(a)(ii).
PIK Rate means 2.75 percentage points per annum.