The Borrower shall not permit general and administrative expense recognized as an expense under GAAP to exceed $3,000,000 in the aggregate for the Borrower and its Subsidiaries and U.S. Energy Corp. and its subsidiaries, on a combined basis, for fiscal year 2016 or fiscal year 2017. For purposes of this Section 9.20, general and administrative expenses shall exclude stock-based compensation expense, depreciation, amortization, and similar expenses that will not ultimately be settled in cash.