ASC 505-50 definition
Examples of ASC 505-50 in a sentence
The Company accounts for stock issued to non-employees in accordance with the provisions of FASB ASC 505-50 “Equity Based Payments to Non-Employees.” FASB ASC 505-50 states that equity instruments that are issued in exchange for the receipt of goods or services should be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.
In addition, the financial ratios and related definitions set forth in the Loan Documents shall be computed to exclude the application of ASC 815, ASC 480, ASC 718 or ASC 505-50 (to the extent that the pronouncements in ASC 718 or ASC 505-50 result in recording an equity award as a liability on the consolidated balance sheet of Holdings, the Borrowers and the Restricted Subsidiaries in the circumstance where, but for the application of the pronouncements, such award would have been classified as equity).
In addition, the financial ratios and related definitions set forth in the Loan Documents shall be computed to exclude the application of ASC 815, ASC 480, ASC 718 or ASC 505-50 (to the extent that the pronouncements in ASC 718 or ASC 505-50 result in recording an equity award as a liability on the consolidated balance sheet of Holdings, the Borrower and the Restricted Subsidiaries in the circumstance where, but for the application of the pronouncements, such award would have been classified as equity).
Seller maintains a standard system of accounting for the Business established and administered in accordance with GAAP, with the exception to FASB ASC 718 Compensation – Stock Compensation, FASB ASC 505-50 Accounting for Equity Instrument that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling, Goods or Services, FASB ASC 470-20 Debt with Conversion and Other Options, and accounting for Income Taxes (ASC 740).
The Credit Agreement is hereby amended to (i) delete the reference therein to “FAS 123R” and replace such reference with a reference to “ASC 718 and/or ASC 505-50, as applicable”, (ii) delete each reference therein to “FAS 133” and replace each such reference with a reference to “ASC 815” and (iii) delete each reference therein to “FAS 143” and replace each such reference with a reference to “ASC 410”.