Common use of PIK Notes Clause in Contracts

PIK Notes. In connection with the payment of Partial PIK Interest, the Issuer is entitled to, without the consent of the Holders and without regard to Section 4.09 hereof, increase the outstanding principal amount of the Notes or issue additional Notes (the “PIK Notes”) under this Indenture on the same terms and conditions as the Notes issued on the Issue Date (in each case, a “PIK Payment”). The Notes, including any PIK Notes, and any Additional Notes subsequently issued under this Indenture will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase, except as provided in Article 9 hereof. Unless the context requires otherwise, references to “Notes” for all purposes of this Indenture shall include any Additional Notes and PIK Notes that are actually issued and any increase in the principal amount of the outstanding Senior Notes (including PIK Notes) as a result of a PIK Payment, and references to “principal amount” of the Notes shall include any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Payment.

PIK Notes. In connection with the payment of PIK Interest or Partial PIK InterestInterest in respect of the Toggle Notes, the Issuer is entitled to, without the consent of the Holders and without regard to Section 4.09 hereof4.09, increase the outstanding principal amount of the Toggle Notes or issue additional Toggle Notes (the “PIK Notes”) under this Indenture on the same terms and conditions as the Toggle Notes issued on the Issue Date offered hereby (in each case, a the “PIK Payment”). The NotesCash Pay Notes and the Toggle Notes are each a separate series of Notes but will be treated as a single class of securities under this Indenture, including any except as otherwise stated herein. As a result, Holders of each series of Notes will not have separate rights to, among other things, give notice of Defaults or to direct the Trustee to exercise remedies during an Event of Default or otherwise. Except as described under Article 9 hereof, the Notes offered by the Issuer, the PIK Notes, Notes and any Additional Notes subsequently issued under this Indenture will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase, except as provided in Article 9 hereof. Unless the context requires otherwise, references to “Notes” for all purposes of this Indenture shall include any Additional PIK Notes and PIK Additional Notes that are actually issued and any increase in the principal amount of the outstanding Senior Notes (including PIK Notes) as a result of a PIK Paymentissued, and references to “principal amount” of the Notes shall include includes any increase in the principal amount of the outstanding Notes (including PIK Notes) as a result of a PIK Payment.