PIK Securities definition

PIK Securities means any series of Securities where interest is payable, at the election of the Company or a Holder of such Security, in additional Securities.

PIK Securities means additional Securities issued under this Indenture on the same terms and conditions as the Securities issued on the Issue Date in connection with a PIK Payment.

PIK Securities means additional Securities issued under this Indenture on the same terms and conditions as the Securities issued on the Issue Date in connection with the payment of PIK Interest.

Examples of PIK Securities in a sentence

• Any certificated PIK Securities will be issued with the description “PIK” on the face of such PIK Security.

• The Issuer shall be entitled to issue PIK Securities as interest on the PIK Notes.

• The PIK Notes issued on the Initial Issue Date and any such PIK Securities and any other PIK Notes issued under the PIK Notes Indenture shall be treated as single class for all purposes under the PIK Notes Indenture.

• The PIK Notes have been issued only in fully registered form without interest coupons in minimum denominations of$75,000 (except in the case of PIK Securities) and integral multiples of $1.00 in excess thereof.

• The aggregate principal amount of Securities outstanding at any time for any series of Securities may not exceed the aggregate principal amount of Securities authorized for issuance by the Company pursuant to the Issuer Order for that series, except for the issuance of additional Securities with respect to PIK Securities and as provided in Section 2.09.

More Definitions of PIK Securities

PIK Securities has the meaning set forth in Section 6.2(b)(iii)(B)(6).

PIK Securities means any series of Securities where interest is payable, whether or not at the election of the Company or a Holder of such Security, in additional Securities.

PIK Securities means Securities issued in lieu of the payment of cash interest as provided in Section 2.02 or 5.01.

PIK Securities means any class or series of Partnership Securities established after the initial Class B Issue Date, the terms of which class or series expressly provide for distributions to be paid in kind in the form of additional Partnership Securities.

PIK Securities means (i) Common Stock for any dividend payment in shares of Common Stock below the Stock Issuance Cap and (ii) a Warrant for any dividend payment in shares of Common Stock in excess of the Stock Issuance Cap.

PIK Securities means additional Notes and Underlying Tranches issued under this Indenture on the same terms and conditions as the related Notes and Underlying Tranches issued on the Issue Date in connection with PIK Interest. For the avoidance of doubt, the term “PIK Securities” shall not include any increases to the principal amount of the outstanding Global Notes as a result of a payment of PIK Interest.

PIK Securities means the preferred stock of Newco with a pay-in-kind feature, as described in the Commitment Letters (as such term is defined in the Contribution Agreement).