definiens: means, for [COMPANY] or any of its Subsidiaries, or [COMPANY] or any of its Subsidiaries, as thecontext requires : ( i ) any Liens for Taxes not yet due and payable or which are being contested in good faith byappropriate proceedings and for which adequate reserves have been provided in conformity with U.S. GAAP, asapplicable ; ( ii ) carriers ’, warehousemen ’s, mechanics ’, materialmen ’s, repairmen ’s or other similar Liens ; ( iii ) pledgesor deposits in connection with workers ’ compensation, unemployment insurance, and other social security legislation;(iv ) easements, rights - of - way, covenants, restrictions and other encumbrances incurred in the ordinary course ofbusiness that, in the aggregate, are not material in amount and that do not, in any case, materially detract from thevalue or the use of the property subject thereto ; ( v ) statutory landlords ’ Liens and Liens granted to landlords under anylease, ( vi ) licenses of non - material Intellectual Property in the ordinary course of business ; ( vii ) any purchase moneysecurity interests, equipment leases or similar financing arrangements ; ( viii ) any Liens which are disclosed on themost recent consolidated balance sheet of [COMPANY] or [COMPANY], as applicable, or the notes thereto ; ( ix ) any Liens that arenot material to [COMPANY], its Subsidiaries or their businesses, taken as a whole or [COMPANY], its Subsidiaries or theirbusinesses, taken as a whole, as applicable, and ( x ) Liens arising from or related to the Loan Agreement