definiens: shall mean : ( a ) Encumbrances for Taxes not yet due andpayable ; ( b ) liens, Encumbrances or imperfections of title that have arisen in the Ordinary Course of Business ; ( c ) liens, Encumbrances or imperfections of title resulting from or otherwise relating to any of the contracts referred to in the CompanyDisclosure Schedule ; ( d ) liens, Encumbrances or imperfections of title relating to liabilities reflected in the financialstatements ( including any related notes ) contained in the Company SEC Documents ; ( e ) liens, pledges or Encumbrancesarising from or otherwise relating to transfer restrictions under the Securities Act and the securities laws of the various states ofthe United States or foreign jurisdictions ; and ( f ) liens, Encumbrances or imperfections of title which would not have aCompany Material Adverse Effect