Example Definitions of "EXCLUDED PROCEEDS"
EXCLUDED PROCEEDS. All proceeds reasonably and fairly attributable to bona fide (i) debt financing to the extent the debt is not forgiven; (ii) equity (and conditional equity, such as warrants, convertible debt and the like; (iii) investments in VGXI at fair market value; (iv) reimbursements of patent prosecution costs and patent maintenance expenses; and (v) reimbursement for the cost of research and/or development services provided on the basis of full-time equivalent efforts of personnel not in excess of... commercially reasonable full-time equivalent rates. View More
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