From and following the Closing Date, the Loans and the other Obligations shall bear interest at the sum of (x) the LIBOR Rate plus 9.00% per annum on the aggregate outstanding principal amount of the Loans outstanding, which shall be paid in cash, plus (y) an amount equal to 1.00% per annum on the aggregate outstanding principal amount of the Loans outstanding, which shall be paid-in-kind (any such amount so paid-in-kind, a “ PIK Amount ”) and shall be added to the outstanding principal amount of the Loans on each Quarterly Payment Date (it being understood that the outstanding balance of the Loans or any similar reference shall include all PIK Amounts).