Common use of AHYDO Catch-Up Payment Clause in Contracts

AHYDO Catch-Up Payment. Notwithstanding anything to the contrary herein, if a Loan would otherwise constitute an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code, on each Payment Date after the fifth anniversary of the Borrowing Date (treating the Borrowing Date for a PIK Loan for this purpose as the Borrowing Date for the Loan with respect to which Borrower elects to pay interest in kind pursuant to Section 3.02(d)), Borrower shall pay in cash the accrued and unpaid interest and original issue discount (determined in accordance with Treasury Regulations §§ 1.1272-1 and 1.1273-1, and treating any cash payments made pursuant to this Agreement, including Section 3.01, Section 3.02 or Section 3.03, as a payment of interest or original issue discount to the extent required by Treasury Regulations §1.1275-2(a)) in the minimum amount necessary to ensure that the Loan shall not constitute an “applicable high yield discount obligation.”

AHYDO Catch-Up Payment. Notwithstanding anything to the contrary herein, if a Loan would otherwise constitute an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code, on each Payment Date after the fifth anniversary of the Borrowing Date (treating the Borrowing Date for a PIK Loan for this purpose as the Borrowing Date for the Loan with respect to which Borrower elects to pay interest in kind pursuant to Section 3.02(d)), Borrower shall pay in cash the accrued and unpaid interest and original issue discount (determined in accordance with Treasury Regulations §§ 1.1272-1 and 1.1273-1, and treating any cash payments made pursuant to this Agreement, including Section 3.01, Section 3.02 or Section 3.03, as a payment of interest or original issue discount to the extent required by Treasury Regulations §§ 1.1275-2(a)) in the minimum amount necessary to ensure that the Loan shall not constitute an “applicable high yield discount obligation.”