Document:

Exhibit 10.5

 Exhibit 10.5 
 

 
 Funding Agreement 
 POLICYHOLDER: Genworth Global Funding Trust 2005-A, its successors and permitted assignees 
 POLICY NUMBER: GS-I6000

 EFFECTIVE DATE: December 21, 2005 
 ISSUE STATE: Virginia 
 GE Life and Annuity Assurance Company (“GELAAC”) (which term includes its successors and
permitted assignees) and the Policyholder hereby agree to the terms of this funding agreement (this “Policy”). This Policy, including the attached Accumulation Fund Schedule, and any amendments thereto, constitutes the entire contract
between GELAAC and the Policyholder. This Policy is delivered in the Issue State and governed by the laws of that state. 
 In witness whereof, GELAAC and
the Policyholder have agreed to this Policy as of the Effective Date and caused the same to be in full force and effect. 
  

					
	 /s/ Thomas E. Duffy
	 		 	 /s/ Pamela S. Schutz

	Thomas E. Duffy	 		 	Pamela S. Schutz
	Secretary	 		 	President

 GE Life and Annuity Assurance Company 
 6610 West Broad Street 
 Richmond, VA 23230 
 1-800-635-8056 

 Table of Contents 
  

			
	Section 1 – Accumulation Fund – Establishment and Operation	 	1
		
	Section 2 – Payments From the Accumulation Fund	 	1
		
	Section 3 – Termination of Agreement	 	2
		
	Section 4 – General Provisions	 	3
		
	Section 5 – Definitions	 	    5

 SECTION 1 – ACCUMULATION FUND – ESTABLISHMENT AND OPERATION 
  

	1.1	POLICY PAYMENTS. The Policyholder agrees to pay to GELAAC in the currency specified in the Accumulation Fund Schedule (the “Specified Currency”), and by wire
transfer, the Net Deposit Amount on the Deposit Date. Regardless of the Effective Date of the Policy or the Deposit Date specified in the Accumulation Fund Schedule, this Policy shall become effective only upon the receipt by GELAAC, or its
designee, of the Net Deposit Amount. 

  

	1.2	ESTABLISHMENT OF THE ACCUMULATION FUND. Upon the receipt by GELAAC of the Net Deposit Amount, GELAAC will establish an Accumulation Fund. The Accumulation Fund is a general
account record that reflects the Fund Balance under this Policy. GELAAC is neither a trustee nor a fiduciary with respect to the Accumulation Fund. The Net Deposit Amount is allocated to GELAAC’s general account for investment but all funds
received under this Policy will become the exclusive property of GELAAC without any duty or requirement for segregation or separate investment. The Fund Balance is not affected by the investment results of the assets held in the general account.

  

	1.3	INTEREST ON THE ACCUMULATION FUND. The Guaranteed Rate for the Accumulation Fund is effective until the Fund Balance is paid in full to the Policyholder. Interest is credited
based upon the methodology specified in the Accumulation Fund Schedule. Interest is earned from the Deposit Date(s) to but excluding the date the Fund Balance is paid in full to the Policyholder. 

  

	1.4	VALUE OF THE ACCUMULATION FUND. The Fund Balance on any given day equals the Deposit Amount plus interest, if any, credited thereon at the Guaranteed Rate, less any payments
made under Section 2 of the Policy. 

 SECTION 2 – PAYMENTS FROM THE ACCUMULATION FUND 
  

	2.1	PERIODIC PAYMENTS. GELAAC will pay the Policyholder the amounts specified in the Accumulation Fund Schedule as Periodic Payouts, including the Maturity Payout, on the dates
specified (subject to Section 4.7). Such payment amounts are adjusted to reflect any other payment payable under this Section of the Policy. The interest factor used in making such adjustments is the Guaranteed Rate. 

 

	2.2	OPTIONAL REPAYMENT. If so indicated in the Accumulation Fund Schedule, GELAAC shall pay to the Policyholder the amount the Policyholder needs to redeem or repay any notes or
other instruments issued by the Policyholder and backed by this Policy, pursuant to any limited right of redemption or repayment contained in such note or instrument. GELAAC may require reasonable evidence that the redemption or repayment request
satisfies all the terms and conditions described in the prospectus, prospectus supplement and/or pricing supplement applicable to such note or other instrument. Additional restrictions, if any, on the Policyholder’s reimbursement rights under
this Section may be included in the Accumulation Fund Schedule. 

  

 1 

	2.3	OPTIONAL REDEMPTION. If so indicated in the Accumulation Fund Schedule, GELAAC may elect to pay the Policyholder all or any part of the Fund Balance on the Call Dates
specified in the Accumulation Fund Schedule. Unless otherwise provided in the Accumulation Fund Schedule, GELAAC will give the Policyholder at least forty-five (45) days and no more than seventy-five (75) days notice of its intent to make
such pre-payment. No adjustment will be made to the amount of such payment, unless such adjustment is specifically provided for in the Accumulation Fund Schedule. 

  

	2.4	MATURITY PAYMENTS. GELAAC shall pay the Policyholder the Fund Balance on the Maturity Date. 

  

	2.5	FORM OF PAYMENT. All payments GELAAC makes to the Policyholder will be made in the Specified Currency, by wire transfer, unless otherwise agreed in writing by the parties
hereto. Unless otherwise stated in the Accumulation Fund Schedule, all payments GELAAC makes will be net of any applicable withholding or deduction for or on account of any present or future taxes, duties, levies, assessments or other governmental
charges of whatever nature imposed or levied by or on behalf of any governmental authority having the power to tax. Unless otherwise specified in the Accumulation Fund Schedule, such net payments fully satisfy GELAAC’s obligation to the
Policyholder with respect to the full amount due. 

 SECTION 3 – TERMINATION OF AGREEMENT 
  

	3.1	AUTOMATIC TERMINATION/ACCELERATION. This Policy terminates with respect to the Accumulation Fund when the Fund Balance is zero and GELAAC’s obligations hereunder shall
automatically accelerate upon the occurrence of an Event of Default described in Section 3.3(a). 

  

	3.2	EARLY TERMINATION/ACCELERATION. The Policyholder may accelerate this Policy by giving GELAAC not less than two (2) Business Days’ written notice upon the occurrence
of an Event of Default specified in Section 3.3 b., c. or d. below. GELAAC may accelerate this Policy, in whole but not in part, by giving the Policyholder not less than forty-five (45) days’, but no more than seventy-five
(75) days’, prior written notice of the occurrence of a Tax Event as described in Section 3.4, provided, however that this Policy shall not be terminated until the Fund Balance has been paid to the Policyholder in full.

  

	3.3	EVENTS OF DEFAULT. An Event of Default occurs if: 

  

	 	a.	GELAAC is dissolved or a resolution is passed or proceeding is instituted for the winding-up, liquidation or similar arrangement of GELAAC (other than pursuant to a consolidation,
amalgamation or merger); 

  

	 	b.	GELAAC breaches any material obligation, representation or certification contained herein, provided that there is no bona fide dispute as to whether such breach has occurred and
that such breach continues for fifteen (15) Business Days following the Policyholder’s written notice to GELAAC of such breach; 

  

 2 

	 	c.	GELAAC fails to make any required Periodic Payout (other than the Maturity Payout) described in the Accumulation Fund Schedule or any other payment described in Sections 2.2 or 2.3
of this Policy or any other funding agreement GELAAC issues in connection with the Program, and such failure continues for seven (7) Business Days after the due date thereof; 

  

	 	d.	GELAAC fails to make the Maturity Payout described in the Accumulation Fund Schedule or in any other funding agreement GELAAC issues in connection with the Program and such failure
is continuing as of the end of the Business Day following the due date thereof. 

  

	3.4	TAX EVENT. A “Tax Event” occurs if GELAAC has received an opinion of independent legal counsel stating in effect that there is more than an insubstantial risk that
as a result of any amendment to, or change (including any announced prospective change) in, the laws (or regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein or any amendment to, or change
in, an interpretation or application of any such regulations of any such laws or regulations by any governmental authority in the United States, which amendment or change is enacted, promulgated, issued or announced on or after the Deposit Date, the
Policyholder is or will be within ninety (90) days of the date thereof, (1) subject to an entity level U.S. federal income tax with respect to interest accrued or received on this Policy or (2) subject to more than a de minimis amount
of taxes, duties or other governmental charges. 

  

	  	Notwithstanding anything to the contrary in this Section 3, if GELAAC shall comply in all respects with the requirements of this Section 3, but an event of default has
occurred with respect to the notes backed by the Policy and as a result payments with respect to the notes have been accelerated, otherwise than by reason of any default under this Policy by GELAAC, no Event of Default (as defined above) under this
Policy shall be deemed to have occurred, no payments with respect to this Policy shall be accelerated and GELAAC will remain obligated to make payments under this Policy as if no Event of Default had occurred with respect to the notes.

 SECTION 4 – GENERAL PROVISIONS 
  

	4.1	PAYMENT UPON TERMINATION. Unless otherwise specified in the Accumulation Fund Schedule, GELAAC shall pay the Policyholder the Fund Balance on the Maturity Date. Such payment
fully discharges GELAAC’s obligation to the Policyholder under this Policy. 

  

	4.2	DISCLAIMER OF RESPONSIBILITY. GELAAC’s only liability is as set out in this Policy, including the Accumulation Fund Schedule attached hereto. In performing its
obligations under this Policy, GELAAC is not acting as a fiduciary or agent for the Policyholder or anyone else regardless of whether or not they are directly or indirectly associated with the Policyholder. 

  

	4.3	NOTICES. All agreements, notices, directions, consents, elections or other communication (“Notices”) required by this Policy must be in writing, directed to the
applicable address designated on the face page. Any such Notices may be given by facsimile transmission or other acceptable electronic means. All Notices are effective when received. 

  

 3 

	4.4	AMENDMENTS. This Policy may be amended only by mutual written agreement between the parties hereto. 

  

	4.5	CONFLICT. To the extent that there is a conflict in terms between the Policy and the Accumulation Fund Schedule, the Accumulation Fund Schedule will control the conduct of
the parties. 

  

	4.6	TRANSFERABILITY/ASSIGNMENT. This Policy and the Accumulation Fund established pursuant to it may solely be sold, assigned, transferred or pledged in accordance with, and for
the purposes contemplated by, the documents and agreements governing the establishment and operation of the Program. GELAAC will maintain a record of ownership of this Policy on its books and records. 

  

	4.7	PAYMENTS BY GELAAC. When this Policy provides that GELAAC will make a payment to the Policyholder, such payment shall be made to the Policyholder or to the agent the
Policyholder designates. Unless otherwise specified in the Accumulation Fund Schedule, if a payment date is not a Business Day, GELAAC will pay such amount on the next Business Day. 

  

	4.8	WAIVER BY GELAAC. At the Policyholder’s request, GELAAC may waive any terms, conditions or adjustments provided for in this Policy. Any such waiver is subject to any
limitations GELAAC specifies in making the waiver and does not require GELAAC to grant similar future waivers to the Policyholder or anyone else. A failure or delay in exercising a right under this Policy does not waive GELAAC’s right or
ability to assert such right in the future. 

  

	4.9	MUTUAL REPRESENTATIONS. The parties mutually represent and warrant, each to the other, that: 

  

	 	a.	This Policy is its legal, valid and binding obligation, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other
laws affecting creditor’s rights, and subject, as to enforceability, to general principals of equity, regardless of whether enforcement is sought in proceeding in equity or law; 

  

	 	b.	It has the power to enter into this Policy and to consummate the transactions contemplated hereby; 

  

	 	c.	All information provided in connection with this Policy is, to the best of its knowledge and belief, true, correct and complete; 

  

	 	d.	The execution and the delivery of this Policy and the performance of obligations hereunder do not and will not constitute or result in a default, breach or violation, of the terms
or provisions of its certificate, articles or charter of incorporation, declaration of trust, by-laws or any agreement, instrument, mortgage, judgment, injunction or order applicable to it or any of its property. 

  

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	4.10	TAX PROVISIONS. The Policyholder and each transferee and assignee of this Policy, to the extent required by law, agree to provide GELAAC with any properly completed tax forms
that are needed for GELAAC to satisfy its tax reporting obligations with respect to amounts held under this Policy. This Policy is intended to be ignored for U.S. federal, state and local income and franchise tax purposes. To the extent it cannot be
ignored, GELAAC and the Policyholder and each transferee and assignee of this Policy agree to treat this Policy as GELAAC’s debt obligation for U.S. federal, state and local income and franchise tax purposes. 

 SECTION 5 – DEFINITIONS 
  

	5.1	POLICY DEFINITIONS. The following terms have the meanings indicated: 

 “Accumulation Fund” is the accounting record GELAAC will establish under this Policy as described in Section 1.2. 
 “Accumulation Fund Schedule” is attached to this Policy and establishes the terms of the Accumulation Fund. 
 “Business
Day” is any day, other than Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or executive order to close, or are otherwise closed, in each Business Day
City specified in the Accumulation Fund Schedule. 
 “Call Date” is the day or days prior to the Stated Maturity Date, if any, specified in
the Accumulation Fund Schedule attached to this Policy, on which GELAAC may elect to pay the Policyholder all or any part of the Fund Balance. If no Call Date is indicated in an Accumulation Fund Schedule, GELAAC will pay to the Policyholder the
Fund Balance prior to the Stated Maturity Date only to the extent provided in Section 3.2. 
 “Deposit Amount” is the amount GELAAC
credits to the Accumulation Fund on the Deposit Date as set forth in the Accumulation Fund Schedule. 
 “Deposit Date” is the date,
specified in the Accumulation Fund Schedule, on which GELAAC receives the Net Deposit Amount. 
 “Event of
Default” has the meaning described in Section 3.3. 
 “Fund Balance” is the value of the
Accumulation Fund, determined pursuant to Section 1.4. 
 “Guaranteed Rate” is the interest rate, if any, applied to the Accumulation
Fund, as stated in the Accumulation Fund Schedule. 
 “Indenture” is that certain indenture agreement, made between the Policyholder and the
Indenture Trustee related to the notes to be supported by this Policy as such agreement may be amended, supplemented or replaced from time to time. 
  

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 “Indenture Trustee” is the party specified as trustee under the Indenture, or its successor. 

“Maturity Date” is the earlier of (i) the Stated Maturity Date and (ii) each date on which the Fund Balance is payable in full to the
Policyholder pursuant to an Event of Default, Optional Repayment, Optional Redemption or otherwise. Unless otherwise indicated in the Accumulation Fund Schedule, if any of the foregoing dates is not a Business Day, the Maturity Date is the next
following Business Day. Interest accrues during such delay only if specified in the Accumulation Fund Schedule. 
 “Net Deposit Amount” is
the amount GELAAC receives from the Policyholder on the Deposit Date as set forth in the Accumulation Fund Schedule. 
 “Program” is the
Genworth Global Funding program, as described in the prospectus relating thereto, including the applicable prospectus supplement or pricing supplement or in any amendment thereto. 
 “Stated Maturity Date” is the date, as set forth on the Accumulation Fund Schedule, when the Fund Balance is originally due and payable to the Policyholder. 
 “Tax Event” has the meaning described in Section 3.4. 
  

	5.2	OTHER DEFINITIONS. Other capitalized terms appearing in this Policy have the meanings indicated on the Policy’s face page or in the Accumulation Fund Schedule.

  

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 GELAAC 
 Accumulation Fund Schedule – Floating Rate 
 Policy Number: GS-I6000 
  

			
	Deposit Date:	  	December 21, 2005 or the date the deposit is actually received by the insurance company
		
	Specified Currency:	  	United States Dollars
		
	Deposit Amount:	  	$300,000,015.00
		
	Net Deposit Amount:	  	$298,950,000.00
		
	Stated Maturity Date:	  	December 15, 2010
		
	Guaranteed Rate:	  	4.66% for the first Crediting Period; and for all subsequent Crediting Periods, the Index Rate plus 16 basis points determined as of the second London Banking Day prior to the start of each
Crediting Period. “London Banking Day” means a day on which commercial banks are open for business in London.
		
	Crediting Period:	  	The first Crediting Period shall be the period commencing on the Deposit Date to but excluding March 15, 2006. Each Subsequent Crediting Period shall be the period, from and including the
Interest Payment Date to but excluding the next Interest Payment Date.
		
	Interest Crediting:	  	Interest is credited based upon an Actual/360 basis, applied to the Fund Balance each day.
		
	Index Rate:	  	The three-month LIBOR, determined as specified in the applicable prospectus supplement for the Program, expressed as a percentage to the fifth place following the decimal or as otherwise
provided in the prospectus supplement relating to the Genworth Global Funding Trusts Secured-Medium Term Notes program (the “Prospectus Supplement”).
		
	Periodic Payouts:	  	On the 15th of each March, June, September and December,
GELAAC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, unless such day is in the following calendar month in which case the
immediately preceding Business Day) (each, an “Interest Payment Date”).
		
	Maturity Payout:	  	On December 15, 2010 (the “Maturity Date”) GELAAC will pay to the Policyholder the Fund Balance. If such date is not a Business Day, the Maturity Payout will be made on the next
following Business Day, without interest for the period the payment is deferred.
		
	Business Day City(s):	  	New York, New York; London
		
	Other Terms:	  	None

 ********************* 
 The calculation of the Guaranteed Rate and all other payment terms of this Policy will be determined in the manner described in the “Description of the Notes” section in the Prospectus Supplement.

 ********************* 
  

							
	GE LIFE AND ANNUITY ASSURANCE COMPANY	 	GENWORTH GLOBAL FUNDING TRUST
				
	By:	 	 /s/ Pamela C. Asbury
	 	By*:	 	 /s/ Fernando Acebedo

		 	Pamela C. Asbury	 		 	Fernando Acebedo
		
	Official Title: Vice President	 	Official Title: Vice President
		
	Date: December 19, 2005	 	Date: December 20, 2005

	*	By The Bank of New York, not in its individual capacity but solely as trustee 

 *********************Amendment to Loan Documents dated February 25, 2005

 Exhibit 10.61 
 Silicon Valley Bank 
 Limited Waiver and 
 Amendment to Loan Documents 
  

			
	 Borrower:
	  	 Applied Imaging Corp.
 Circulating Tumor
Cells, Inc.

		
	 Address:
	  	 120 Baytech Drive
 Santa Jose, CA
95134

		
	 Date:
	  	February 25, 2005

 THIS LIMITED WAIVER AND AMENDMENT TO LOAN DOCUMENTS is entered into between Silicon Valley
Bank (“Silicon”) and the borrowers named above (jointly and severally, the “Borrower”). 
 Silicon and Borrower hereby
agree to amend the Loan and Security Agreement between them, dated September 28, 2001 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”), as follows, effective as of the date hereof.
(Capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Loan Agreement.) 
 1. Waiver of
Financial Covenant Defaults. Borrower has advised Silicon that Borrower has failed to comply with the Minimum Tangible Net Worth Financial Covenant set forth in Section 5 of the Schedule to Loan and Security Agreement entitled “5.
FINANCIAL COVENANTS (Section 5.1)” for the compliance periods ending January 31, 2004, February 29, 2004, March 31, 2004 and December 31, 2004 (the “Covenant Defaults”). Silicon and Borrower agree that
the Borrower’s Covenant Defaults are hereby waived. It is understood by the parties hereto, however, that such waiver does not constitute a waiver of any other provision or term of the Loan Agreement or any related document, nor an agreement to
waive in the future this covenant or any other provision or term of the Loan Agreement or any related document. 
 2. Waiver of Reporting
Default. Borrower has failed to provide Silicon, on or before December 31, 2004, all restated financial statements in respect of the Designated Financial Statements Restatement (the “Reporting Default”). Silicon and Borrower agree that
the Borrower’s Reporting Default is hereby waived. It is understood by the parties hereto, however, that such waiver does not constitute a waiver of any other provision or term of the Loan Agreement or any related document, nor an agreement to
waive in the future this covenant or any other provision or term of the Loan Agreement or any related document. 

			
	Silicon Valley Bank	  	Limited Waiver and Amendment    

 3. Modified Deadline for Providing Restated
Financial Statements. Borrower covenants and agrees to deliver to Silicon, on or before March 31, 2005, all restated financial statements in inspect of the Designated Financial Statements Restatement. 
 4. Modified Maturity Date. Section 4 of the Schedule to Loan Agreement hereby is amended and restated in its entirety to read as follows:

  

			
	 4. MATURITY DATE
	 	
	      (Section 6.1):
	 	March 29, 2007.

 5. Modification of TNW Base Amount and TNW Capital Increase. The portion of Section 5
of the Schedule to Loan Agreement that currently reads as follows: 
  

			
	 Minimum Tangible
	 	
	 Net Worth:
	 	 Borrower shall maintain a Tangible Net Worth of not less than the following:
  
 (i)     the TNW Base Amount;
plus
  
 (ii)    the TNW
Capital Increase (if any)
  
 For purposes of this Tangible Net Worth covenant:

 
 The term “TNW Base Amount” means, as of any date of determination, the amount set forth
below corresponding to the time period set forth below:
  
 (A) For each of the months
ending January 31, 2005, April 30, 2005, July 31, 2005 and October 31, 2005: $500,000;
  
 (B) For each of the months ending February 28, 2005, May 31, 2005, August 31, 2005 and November 30, 2005: $1.00;
and
  
 (C) For each of the months ending March 31, 2005, June 30, 2005,
September 30, 2005 and December 31, 2005: $1,000,000;

			
	Silicon Valley Bank	  	Limited Waiver and Amendment    

  

			
		 	(a) $-0- and (b) 50% of all consideration (if any) received from and after the date hereof for equity securities and subordinated debt of the Borrower. In no event shall the amount of the
TNW Capital Increase be decreased.

 6. Fee. In consideration for Silicon entering into this Amendment, Borrower shall
pay Silicon a fee of $55,000 concurrently with the execution and delivery of this Amendment, which fee shall be non-refundable and in addition to all interest and other fees payable to Silicon under the Loan Documents. Silicon is authorized to
charge said fee to Borrower’s loan account. 
 7. Representations True. Borrower represents and warrants to Silicon that all
representations and warranties set forth in the Loan Agreement, as amended hereby, are true and correct. 
 8. General Provisions.
This Amendment, the Loan Agreement, any prior written amendments to the Loan Agreement signed by Silicon and Borrower, and the other written documents and agreements between Silicon and Borrower set forth in full all of the representations and
agreements of the parties with respect to the subject matter hereof and supersede all prior discussions, representations, agreements and understandings between the parties with respect to the subject hereof. Except as herein expressly amended, all
of the terms and provisions of the Loan Agreement, and all other documents and agreements between Silicon and Borrower shall continue in full force and effect and the same are hereby ratified and confirmed. 
  

									
	Borrower:	 		 	Silicon:
			
	APPLIED IMAGING CORP.	 		 	SILICON VALLEY BANK
					
	By	 	

	 		 	By	 	

		 	President or Vice President	 		 	Title	 	Relationship Manager
					
	By	 	  	 		 		 	
		 	Secretary or Assistant Secretary	 		 		 	

			
	Silicon Valley Bank	  	Limited Waiver and Amendment    

 Borrower: 
  

			
	CIRCULATING TUMOR CELLS, INC.
		
	By	 	

		 	President or Vice President
		
	By	 	  
		 	Secretary or Assistant Secretary

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