PIK Notes definition

PIK Notes shall have the meaning specified in Section 2.03(d)(ii).
PIK Notes has the meaning set forth in Section 2.07.

Examples of PIK Notes in a sentence

  • In connection with the payment of PIK Interest, the Issuer Trust may, without the consent of the holders (and notwithstanding any restrictions or limitations set forth in Section 4.09, Section 4.12 or Article 9 hereof), increase the outstanding principal amount of the Notes or issue PIK Notes (in each case, a “PIK Payment”).

  • Interest on the Notes shall accrue at the rate equal to the sum of (a) 11.000% per annum payable in cash (the “Base Interest”), and (b) from the Closing Date until September 12, 2027, 2.000% per annum payable in kind (the “PIK Interest”) at a total rate of 13.000% by capitalizing such PIK Interest and increasing the principal amount of the outstanding Notes in an amount equal to such PIK Interest or by issuing PIK Notes.

  • On any Payment Date on which the Issuer pays PIK Interest by issuing certificated PIK Notes, the principal amount of any such PIK Notes issued to any holder, for the relevant interest period as of the relevant Record Date for such Payment Date, shall be rounded up to the nearest $1.00.


More Definitions of PIK Notes

PIK Notes means the $20 million 14.75% Senior Subordinated PIK Notes due July 1, 2015, issued by TOUSA and guaranteed by certain subsidiaries of TOUSA, pursuant to the indenture dated July 31, 2007.
PIK Notes mean additional Notes issued under this Indenture on the same terms and conditions as the Notes issued on the Issue Date in connection with a PIK Payment. For purposes of this Indenture, all references to “PIK Notes” shall include the Related PIK Notes.
PIK Notes means any Notes issued pursuant to a PIK Payment.
PIK Notes has the meaning specified in Section 2.08. “PIK Option” has the meaning specified in Section 2.06.
PIK Notes means additional Notes issued under this Indenture on the same terms and conditions as the Notes issued on the Issue Date in connection with PIK Interest. For the avoidance of doubt, the term “PIK Notes” shall not include any increases to the principal amount of the outstanding Global Notes as a result of a payment of PIK Interest.
PIK Notes means Additional Notes issued under this Indenture in connection with a PIK Payment, with the same terms as the Initial Notes, except that interest on any PIK Notes shall accrue from their date of issuance.
PIK Notes means the non-interest bearing promissory notes issued to holders of 2022 Convertible Notes in satisfaction of the accrued and unpaid interest for the period January 1, 2020 to December 31, 2020.
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