for any change in the scope of the CIRM-Funded Project pursuant to CIRM’s GrantsAdministration Policy, article V, section D(1). Upon such approval, the term “CIRM-FundedProject” shall include any such deviation, amendment or change that is so approved by CIRM.
CIRM’s Governing Board.
The term “CIRM’s Governing Board” shall mean theIndependent Citizens’ Oversight Committee.
The term “CIRM Representatives” shall mean CIRM’sofficers, employees, agents, attorneys, consultants, accountants and members CIRM’s GoverningBoard.
. The term “Code” shall mean the Internal Revenue Code of 1986, as amended, andany successor statute thereto.
The term “Company-Backed Loan” shall have the meaninggiven in the Loan Administration Policy.
The term “Controlled Group” shall mean all members of a controlledgroup of corporations and all trades or businesses (whether or not incorporated) under commoncontrol which, together with Loan Recipient, are treated as a single employer under Section 414of the Code.
Direct Research Funding Costs.
The term “Direct Research Funding Costs” shall meanthe sum of Project Costs and Facilities Costs.
The term “Disbursement” shall have the meaning given to it in Section4.4(a) of this Agreement.
Disbursed Loan Amount
. The term “Disbursed Loan Amount” shall mean that amountof the Loan Award that CIRM has distributed in immediately available funds to the LoanRecipient through any one or more Disbursements.
The term “ERISA” shall mean the Employee Retirement Income Security Actof 1974, as amended, or any successor statute thereto.
The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.
The term “Facilities Costs” shall mean the general operating costs of the facilities that will house all elements of the CIRM-Funded Project.
The term “Indebtedness” shall mean for any Person (without duplication),(a) all indebtedness created, assumed or incurred in any manner by such Person representingmoney borrowed (including by the issuance of debt securities), (b) all indebtedness for thedeferred purchase price of property or services (other than trade accounts payable arising in theordinary course of business), (c) all indebtedness secured by any Lien upon Property of suchPerson, whether or not such Person has assumed or become liable for the payment of such