Biomedical Phase VII Investors. As a condition precedent to the receipt of funds pursuant to Sections 3(d)(iv) of this Agreement, in addition to executing the Phase VII and VIII Investor Release, the Biomedical Phase VII Investors who are eligible to receive funds as provided for hereunder must assign to the Receiver any interest they have in Biomedical Phase VII by executing an Assignment in substantially the same form as the attached Exhibit “H.” The Receiver shall not disburse funds to a Biomedical Phase VII Investor pursuant to Section 3(d)(iv) unless such Investor first executes the Assignment and the Phase VII and VIII Investor Release. The Assignment shall conform to the provisions of Section 5(d)(ii) above.
Biomedical Phase VII Investors. As a condition precedent to the receipt of funds pursuant to Section 3(d)(iv) of this Agreement, Biomedical Phase VII Investors must first execute an Investor Release of all claims in favor of the Xxxxxxx Xxxxx Released Parties, the Receiver, and the Receivership Estate in the form attached hereto as Exhibit “E” (the “Phase VII and VIII Investor Release”). The Phase VII and VIII Investor Release shall also contain a covenant not to sue or make claims against the Receiver and/or the Receivership Entities for any claim that is in any way connected with, related to, or arising out of such Investor’s participation in Biomedical Phase VII, except as provided in this Section 5(d)(ii). The Receiver shall not disburse funds pursuant to this Agreement to a Biomedical Phase VII Investor pursuant to Section 3(d)(iv) unless such Investor first executes the Biomedical Phase VII Investor Release. All Biomedical Phase VII Investors receiving funds pursuant to Section 3(d)(iv) of this Agreement shall be permitted to make a claim in the Receivership Estate for the amount of their administrative fee payment (up to, but not exceeding, Fifty Thousand Dollars ($50,000.00)).
