Term Loan PIK Interest Rate definition

Term Loan PIK Interest Rate means, for any day a per annum rate of interest equal to the Cash Interest Reduction Amount, multiplied by 1.2.

Term Loan PIK Interest Rate means two and one-half percent (2.5%) per annum.

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 Reduction Amount, multiplied by 1.2, and (b) otherwise, 0.00%.

Examples of Term Loan PIK Interest Rate 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.

• 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.

• 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 Rate added to principal pursuant to Section 2.2(d)(ii).

More Definitions of Term Loan PIK Interest Rate

Term Loan PIK Interest Rate means 0.5%.

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 Term Loan PIK Interest Rate shall be 0.60% and if the Cash Interest Rate Reduction Level is 1.50%, then the Term Loan PIK Interest Rate shall be 1.80%.

Term Loan PIK Interest Rate means, for any day, a per annum rate of interest equal to (a) on any day prior to the Fourth Amendment Effective Date, 3.35%, and (b) thereafter, 2.15%.

Term Loan PIK Interest Rate means 3.0% per annum.

Term Loan PIK Interest Rate means, for any day a per annum rate of interest equal to 3.45%.

Term Loan PIK Interest Rate set forth in Section 1.1 of the Loan Agreement is hereby deleted in its entirety.

Term Loan PIK Interest Rate means one and fifteen hundredths percent (1.15%).