definiens: means:7.7.8.1Liens in favor Silicon Valley Bank pursuant to the SVB LoanAgreement ( subject to the requirement that such Liens are to be terminated or subordinated asprovided in Section 7.4 ) and Liens in favor of SFJ;7.7.8.2Liens for taxes, fees, assessments or other government chargesor levies, either ( i ) not due and payable or ( ii ) being contested in good faith and for which Apellismaintains adequate reserves on its books and records, provided that no notice of any such Lien hasbeen filed or recorded under the IRC;7.7.8.3purchase money Liens or capital leases ( i ) on equipmentacquired or held by Apellis incurred for financing the acquisition of the equipment securing no morethan $ [ * * ] in the aggregate amount outstanding, or ( ii ) existing on equipment when acquired, if theLien is confined to the property and improvements and the proceeds of the equipment;31 7.7.8.4leases or subleases of real property granted in the ordinarycourse of Apellis ’ business ( or, if referring to another Person, in the ordinary course of such Person’sbusiness ), and leases, subleases, non - exclusive licenses or sublicenses of personal property ( otherthan Intellectual Property ) granted in the ordinary course of Apellis ’ business ( or, if referring to anotherPerson, in the ordinary course of such Person ’s business ), if the leases, subleases, licenses andsublicenses do not prohibit granting SFJ a security interest therein;7.7.8.5Interests of lessors and licensors under leases and licenses toApellis of real property and personal property;7.7.8.6Liens of carriers, warehousemen, suppliers, or other Personsthat are possessory in nature arising in the ordinary course of business so long as such Liens attachonly to inventory, securing liabilities in the aggregate amount which are not delinquent or remainpayable without penalty or which are being contested in good faith and by appropriate proceedingswhich proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;7.7.8.7Liens to secure payment of workers ’ compensation, employmentinsurance, old - age pensions, social security and other like obligations incurred in the ordinary courseof business ( other than Liens imposed by ERISA);7.7.8.8Liens arising from attachments or judgments, orders, or decreesoccurring after the Effective Date in circumstances not constituting or arising from a FundamentalBreach by Apellis;7.7.8.9Liens in favor of financial institutions arising in connection withApellis ’ deposit and/or securities accounts held at such institutions, provided that SFJ has a firstpriority perfected security interest in the amounts held in such deposit and/or securities accounts;7.7.8.10Liens incurred in the extension, renewal or refinancing of theindebtedness secured by Liens described in Sections 7.7.8.1 through 7.7.8.9 ( excluding the SVBLoan ), but any extension, renewal or replacement Lien must be limited to the property encumbered bythe existing Lien and the principal amount of the indebtedness may not increase;7.7.8.11Deposits securing bids or contracts;7.7.8.12Liens securing the payment of purchase obligations forequipment, materials and inventory and for the payment of equipment and real estate leaseobligations ( including security deposits in connection therewith ) ; and7.7.8.13Other Liens securing liabilities in an aggregate amount not toexceed $ [ * * ]