ðɪs ɪz ɐ dˈɪfɹənt tˈaɪp ʌv pˌiːˌaɪkˈeɪ tˈɑːɡəl, ˈɔːlsoʊ nˈoʊn æz "kəntˈɪndʒənt kˈæʃ pˈeɪ" ɔːɹ "pˈeɪ ɪf juː kˈæn", wˌɛɹ bˈɑːɹoʊɚz pˈeɪ ˈɪntɹɛst ɪn kˈæʃ ænd ˈoʊnli "tˈɑːɡəl" tə pˈeɪmənt ɪn kˈaɪnd ˌʌndɚ sˈɜːʔn̩ kəndˈɪʃənz; fɔːɹ ɛɡzˈæmpəl, ɪf ðɛɹ ɪz ɪnsəfˈɪʃənt kˈæʃ, jˈuːʒuːəli dɪtˈɜːmɪnd baɪ ɐ kˈæʃ flˈoʊ tɹˈɪɡɚ.
This is a different type of PIK toggle, also known as "contingent cash pay" or "pay if you can", where borrowers pay interest in cash and only "toggle" to payment in kind under certain conditions; for example, if there is insufficient cash, usually determined by a cash flow trigger.