Term Loan PIK Interest definition

Term Loan PIK Interest has the meaning set forth in Section 2.1(c)(ii).
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Term Loan PIK Interest shall be payable as follows:
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Term Loan PIK Interest means the amount (if any) of interest accrued pursuant to the Term Loan PIK Interest Rate added to principal pursuant to Section 2.1(c)(ii).
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Examples of Term Loan PIK Interest in a sentence

  • In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.1(c)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.

  • Interest charged at the Term Loan PIK Interest Rate shall be assessed in arrears and added to the principal balance of each Credit Extension on each Interest Payment Date.

  • Notwithstanding the forgoing, interest shall continue to accrue at the Term Loan PIK Interest Rate as otherwise provided herein until such interest is capitalized and added to principal as provided hereunder.

  • Borrower will pay interest on each Term Loan Advance on the first (1st) day of each month, beginning the month after the applicable Advance Date for such Term Loan Advance; provided that interest accruing at the Term Loan PIK Interest Rate shall not be paid in cash and shall instead be added to the principal of the Term Loan Advance on such date.

  • Each Term Loan Advance of each Lender shall not exceed its respective Term Commitment plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest added to principal pursuant to Section 2.1(c)(ii).

  • Borrower will pay accrued interest on the Term Loan on each Interest Payment Date, of which accrued interest calculated at the Term Loan Cash Interest Rate shall be paid in cash on the applicable Interest Payment Date and accrued interest calculated at the Term Loan PIK Interest Rate shall be added to the outstanding principal amount of the Term Loan on the applicable Interest Payment Date and such accrued interest shall thereafter be principal under the Term Loan.

  • Upon the occurrence and during the continuance of an Event of Default and subject to Section 2.3, all accrued interest, including accrued interest calculated at the Term Loan PIK Interest Rate, shall be payable on demand in cash.

  • The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest added to principal pursuant to Section 2.2(c)(ii).

  • The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount, plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest added to principal pursuant to Section 2.1(c)(ii).

  • In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.2(h)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.


More Definitions of Term Loan PIK Interest

Term Loan PIK Interest has the meaning assigned to such term in the definition of Applicable Rate.
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Term Loan PIK Interest has the meaning set forth in Section 2.2(d)(ii). “Term Loan PIK Interest Rate” means, for any day a per annum rate of interest equal to (a) during any PIK Deferral Period, the Cash Interest Rate Reduction Level, multiplied by 1.2, and (b) otherwise, 0.00%. For illustrative purposes, if the Cash Interest Rate Reduction Level is 0.50%, then the
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Term Loan PIK Interest means interest payable pursuant to Section 2.2(c)(ii).
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Term Loan PIK Interest has the meaning set forth in SCHEDULE 1.1(B).
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Related to Term Loan PIK Interest

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan as defined in Section 2.1.

  • Term Loan A Note means a promissory note in the form of Exhibit 2.5-3, as it may be amended, supplemented or otherwise modified from time to time.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term Loan Lender means a Lender with a Term Loan Commitment or an outstanding Term Loan.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Term Loan Note means a promissory note in the form of Exhibit B, as it may be amended, supplemented or otherwise modified from time to time.

  • PIK Loan has the meaning set forth in Section 3.02(d).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan Notes means the promissory notes of the Borrower (if any) in favor of any of the Term Loan Lenders evidencing the portion of the Term Loan provided by any such Term Loan Lender pursuant to Section 2.2(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Term Loans as defined in Section 2.1.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Term Facility means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Term Loan Borrowing means a borrowing consisting of Term Loans made on the same day by the Term Loan Lenders ratably according to their respective Term Loan Commitments.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Incremental Revolving Loan Lender shall have the meaning provided in Section 2.14(b).

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.