definiens: means : ( a)Liens created in favor of the Purchaser pursuant to this Agreement ; ( b)Liens incurred by the Purchaser ; ( c)inchoate Liens for taxes not yet delinquent or L iens for taxes which are being contested in good faith and by appropriate proceedings and for which adequate reserves have been established in accordan ce with GAAP ; ( d)Liens in respect of property of the Seller impos ed by Applicable Law which were incurred in the ordinary course of business and do not secure Indeb tedness for borrowed money, such as carriers ’, warehousemen ’s, distributors ’, wholesalers ’, materi almen ’s and mechanics ’ liens and other similar Lien s arising in the ordinary course of business and secure payme nt obligations not yet delinquent and which are not in the aggregate in an amount materially in relation to th e value of the Purchased Receivables ; ( e)banker ’s liens for collection or rights of set o ff or similar rights and remedies as to deposit acc ounts or other funds maintained with depositary instituti ons ; provided that such deposit accounts or funds a re not established or deposited for the purpose of providi ng collateral for any Indebtedness and are not subj ect to restrictions on access by the Seller in excess of t hose required by applicable banking regulations ; an d ( f)Liens to secure Permitted Debt