definiens: means, as of the Determination Date, [COMPANY] ’s ( a ) cash and cash equivalents minus ( b ) theAlbireo Debt Amount minus ( c ) all indebtedness or other obligation for borrowed money ( for clarity, on a cash basis),including the [COMPANY] Loan Note Interest, if and to the extent neither waived nor canceled nor to be satisfied by thepayment of cash to Company or an [COMPANY] Company, but excluding money borrowed from Kreos Capital IV ( UK)Limited and excluding the Loan Notes, minus ( d ) Transaction Costs minus ( e ) aggregate proceeds from the InvestorSubscription, to the extent received as of the Determination Date, minus ( f ) the positive difference, if any, betweenthe [COMPANY] Base Case R&D Budget and all [COMPANY] R&D Expenses paid on or after April 1, 2016 plus ( g ) all AlbireoR&D Expenses paid on or after April 1, 2016 in excess of the [COMPANY] Base Case R&D Budget plus ( h ) any StampTaxes paid plus ( i ) all prepaid [COMPANY] Company expenses listed on Part A of the [COMPANY] Disclosure Schedule plus(j ) all Excluded Charges paid