definiens: means with respect to any Person, wi thout duplication, ( i ) all obligations of such Person for borrowed money, whether current or funded, secured or unsecured, ( ii ) all obligations of such Person for the deferred purchase price of a ny property or services, ( iii ) all obligations of s uch Person created or arising under any conditional sal e or other title retention agreement with respect t o property acquired by such Person ( even though the r ights and remedies of the seller or lender under such agreement in the event of a default may be lim ited to repossession or sale of such property ), ( iv ) all obligations of such Person secured by a purchas e money mortgage or other lien to secure all or par t of the purchase price of property 4 subject to such mortgage or lien, ( v ) all obligatio ns under leases which shall have been or should be, in accordance with GAAP, recorded as capital leases in respect of which such Person is liable as lesse e, ( vi ) any obligation of such Person in respect of ba nkers ’ acceptances or letters of credit, ( vii ) any obligations secured by liens on property acquired b y such Person, whether or not such obligations were assumed by such Person at the time of acquisition o f such property, ( viii ) all obligations of a type referred to in clause ( i ), ( ii ), ( iii ), ( iv ), ( v ), ( vi ), or ( vii ) above which is directly or indirectl y guaranteed by such Person or which it has agreed ( contingently or otherwise ) to purchase or otherwise acquire or in respect of which it has otherwise assured a cred itor against loss, and ( ix ) any refinancings of any of the foregoing obligations . Notwithstanding the fore going, for the avoidance of doubt, shall not include any trade payables or other curre nt liabilities reflected in the Financial Statement s or incurred by the Seller after the date of the Most R ecent Balance Sheet in the Ordinary Course of Business, to the extent taken into account in the c alculation of Working Capital, or any other amounts taken into account in the calculation of Working Ca pital