Risk Premium Payment. The term “Risk Premium Payment” shall mean the payment or payments that Loan Recipient is required to make to CIRM, in lieu of providing warrants, pursuant to Section E of Article VII of the Loan Administration Policy and as provided under Section 4.5. Request for Applications 10-05 or RFA 10-05. The terms “Request for Applications 10-05” and “RFA 10-05” shall mean the request for applications issued by CIRM in 2010 for Disease Team Therapy Development Awards, and include the “Supplement to RFA 10-05” issued in September 2011.
Risk Premium Payment. Subject to the terms and conditions of the Subordination Agreement, on the Payment Date relating to each Liquidity Transaction, the Company shall deliver to the Lenders the Risk Premium Payment to which the respective Lenders are entitled pursuant to Section 2.1 of this Agreement, such payment to be delivered (a) to the extent in the form of cash, by wire transfer of immediately available funds to the respective accounts designated by the Lenders by written notice to the Company given on or prior to the Payment Date and (b) to the extent in the form of securities, by physical delivery of certificates representing such securities to the Lenders at their respective addresses specified on the signature pages hereto as the same may be updated from time to time by the Lenders upon the furnishing of written notice to the Company, or by such other means as may be mutually agreed to between the applicable Lender and the Company. At any time prior to the delivery by the Company of payment pursuant to the preceding sentence, the Lender entitled to receive such payment may, upon the furnishing of written notice to the Company, request that any payment that such Lender is entitled to receive pursuant to this Agreement be instead directed to any other person (provided that a Lender may not require that payment in the form of securities be directed to any person where such payment would, in the reasonable opinion of counsel to the Company, result in a violation of applicable securities law) or be reinvested in the Company upon terms and conditions acceptable to such Lender in its sole discretion.
