Lease Expense definition

Lease Expense means, with respect to any Person, for any period for such Person and its subsidiaries on a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP.

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Lease Expense means, for any period, the aggregate amount of fixed and contingent rentals paid or payable by the Borrowers and their Subsidiaries with respect to leases of real and personal property (excluding Capitalized Lease Obligations) determined on a consolidated basis in accordance with GAAP for such period.

Lease Expense for any period, the aggregate minimum rental obligations payable in respect of such period under leases of real and/or personal property (net of income from subleases thereof), whether or not such obligations are reflected as liabilities or commitments on a consolidated balance sheet or in the notes thereto.

Examples of Lease Expense in a sentence

• For purposes of this Lease, the term "Aggregate Fixed Charge Coverage Ratio" shall mean with respect to the twelve month period of time ending on the date of calculation, the ratio calculated for such period of time of (a) the sum of Net Income, Depreciation and Amortization, Interest Expense and Operating Lease Expense, less a corporate overhead allocation in an amount equal to 4% of Aggregate Gross Sales, to (b) the sum of the Operating Lease Expense and the Equipment Payment Amount.

• Neither Holdings nor the Parent Borrower will permit Consolidated Lease Expense associated with Capital Expenditures to exceed 30% of Capital Expenditures for such fiscal year.

• Permit Consolidated Lease Expense for any fiscal year of HCC to exceed $10,000,000.

• Permit Consolidated Lease Expense for any fiscal year of the Borrower and its Subsidiaries to exceed $20,000,000.

• For purposes of this Section, the term "Fixed Charge Coverage Ratio" shall mean with respect to each fiscal year, the ratio calculated for such fiscal year, each as determined in accordance with GAAP, of (a) the sum of Net Income, Depreciation and Amortization, Interest Expense and Operating Lease Expense, less a corporate overhead allocation (equal to the sum of 3% of Gross Sales and 3% of Gross Gas Profits), to (b) the sum of the Lender Payments, Operating Lease Expense and the Equipment Payment Amount.

More Definitions of Lease Expense

Lease Expense means lease payments in the case of an operating lease and depreciation expense and interest expense in the case of a capital lease.

Lease Expense means, with respect to any Person for any period, all obligations of such Person for payments under leases of real or personal property, whether such leases presently exist or are hereafter entered into by such Person.

Lease Expense means, for any period, all rental expenses of the Company and its Subsidiaries during such period under operating leases for real or personal property (including in connection with Sale and Lease-Back Transactions), but excluding real estate taxes, insurance costs and common area maintenance charges and net of sublease income; provided that Lease Expense shall not include (a) obligations under vehicle leases entered into in the ordinary course of business, (b) all such rental expenses associated with assets acquired pursuant to the Transactions and pursuant to an acquisition (including a Permitted Acquisition) to the extent that such rental expenses relate to operating leases (i) in effect at the time of (and immediately prior to) such acquisition and (ii) related to periods prior to such acquisition, (c) Capital Lease Obligations, all as determined on a consolidated basis in accordance with GAAP and (d) the effects from applying purchase accounting.

Lease Expense means the lease expense of Borrower with respect to operating leases for the applicable period (to the extent included in the computation of Net Income (Loss)), determined in accordance with Generally Accepted Accounting Principles (and specifically excluding any capitalized lease obligations).

Lease Expense means, for any period, the amounts paid by the Lessee or any Subsidiary thereof as rent for rental payments under any operating lease of real property and its improvements, as determined in accordance with GAAP, pursuant to which lease the Lessee or any Subsidiary thereof is treated as the owner of such property and its improvements for federal income tax purposes.

Lease Expense means, for any period, the lease expense under all Operating Leases for Borrower.

Lease Expense for any Person for any period, the aggregate amount of fixed and contingent rentals payable by such Person for such period with respect to leases of real and personal property.