definiens: shall mean as to any Person : ( a ) all obligations, whether or not contingent, of suchPerson for borrowed money ( including, without limitation, reimbursement and all other obligations with respect tosurety bonds, letters of credit and bankers ’ acceptances, whether or not matured ) ; ( b ) all obligations of such Personevidenced by notes, bonds, debentures or similar instruments ; ( c ) all obligations of such Person under leases whichhave been or should be, in accordance with GAAP, recorded as capital leases ; ( d ) all liabilities and obligationssecured by any Lien on any property or asset owned or held by that Person regardless of whether the indebtednesssecured thereby shall have been assumed by that Person or is non - recourse to the credit of that Person ; and ( e ) allIndebtedness of any other Person referred to in clauses ( a ) through ( e ) above, guaranteed, directly or indirectly, bythat Person ; but excluding all obligations of such Person for deferred rent