Share Based Compensation Expense definition

Share Based Compensation Expense means, for any period, the non-cash expense related to grants of options in Borrowers capital stock pursuant to Statement of Financial Accounting Standards Section 123R of the Federal tax code.
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Examples of Share Based Compensation Expense in a sentence

  • At all times during the term of the Loan, Borrower shall maintain a Fixed Charge Coverage Ratio (as hereinafter defined) of at least 1.25 to 1.0. “Fixed Charge Coverage Ratio” shall be defined as the ratio of Borrower’s EBITDA minus unfinanced Capital Expenditures minus cash taxes paid during any period plus Share Based Compensation Expense plus Business Combination Expense, to (ii) Borrower’s CMLTD plus Consolidated Total Interest.

  • Borrower shall not permit the ratio of EBITDA less cash taxes paid during such period less un-financed capital expenditures during such period plus Share Based Compensation Expense to CMLTD plus interest expense during such period to be less than 1.25 to 1.0. The Debt Service Coverage Ratio shall be tested as of the last day of each Fiscal Quarter by reference to the Fiscal Quarter then ended and the immediately preceding three (3) Fiscal Quarters (calculated on a rolling four (4) quarter basis).