Common use of Issuance of PIK Notes Clause in Contracts

Issuance of PIK Notes. The Company shall be entitled to issue PIK Notes as provided in Section 4.01 hereof. With respect to such PIK Notes, the Company shall deliver to the Trustee: (a) no later than the record date for the relevant Interest Payment Date, a written notice setting forth the extent to which such interest will be made in the form of a PIK Note or Notes; and (b) not later than one Business Day prior to the relevant Interest Payment Date, an order to authenticate and deliver such PIK Notes. Any PIK Note shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to the Holders as of the relevant record date at such Holders' registered address if the Notes are then held in the form of Definitive Notes, or (ii) deposited with or on behalf of DTC for the benefit of the Beneficial Owners as of the relevant record date if the Notes are held in the form of a Global Note.

Issuance of PIK Notes. The Company shall be entitled to issue PIK Notes as provided in Section 4.01 hereof. With respect to such PIK Notes, the Company shall deliver to the Trustee:; (a) no later than the record date for the relevant Interest Payment Date, a written notice setting forth the extent to which such interest will be made in the form of a PIK Note or Notes; and (b) not later than one Business Day prior to the relevant Interest Payment Date, an order to authenticate and deliver such PIK Notes. Any PIK Note shall, after being executed and authenticated pursuant to Section 2.02, be (i) delivered by the Trustee to the Holders as of the relevant record date at such Holders' registered address if the Notes are then held in the form of Definitive Notes, or (ii) deposited with or on behalf of DTC for the benefit of the Beneficial Owners as of the relevant record date if the Notes are held in the form of a Global Note.