definiens: shall mean : ( a ) Loan Recipient ’s indebtedness to CIRM under this Agreement or any other Loan Document ; ( b ) Indebtedness existing on the date hereof and described in Schedule 7.8 ; ( c ) Indebtedness secured by a lien described in Section 7.8(d ) of this Agreement ; ( d ) Indebtedness to trade creditors incurred in the ordinary course of business ; ( e ) Indebtedness arising from credit facilities, term loans and other debt financings ( including, for the avoidance ofdoubt, any debt financing provided by Loan Recipient ’s equity investors ), established to support the Loan Recipient’sworking capital and general corporate needs ; provided that such Indebtedness shall not be secured by the CIRM - FundedProject ; and ( f ) Indebtedness that is subordinated to the Loan Recipient ’s Indebtedness to CIRM under this Agreement or any otherLoan Document, pursuant to subordination, intercreditor or similar agreements reasonably satisfactory to CIRM