definiens: means each of the following as to which no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced and as to which none of the Companies or theirSubsidiaries is otherwise subject to civil or criminal liability due to its existence : ( i ) Encumbrances incurred or depositsmade in the ordinary course of business in connection with workers ’ compensation, unemployment insurance and othertypes of social security or to secure public or statutory obligations of any kind ; ( ii ) mechanics ’, carriers ’, workers’,repairers ’, materialmen ’s, warehousemen ’s and other similar Encumbrances which have arisen in the ordinary courseof business securing obligations that ( A ) are not overdue for a period of more than 30 days and ( B ) are not in excess of$50,000 in the case of a single property or $ 250,000 in the aggregate at any time ; ( iii ) Encumbrances approved byPurchaser ; ( iv ) Encumbrances for Taxes not yet delinquent or that are being contested in good faith by appropriateproceedings and for which adequate reserves have been established in accordancewith GAAP ; ( v ) requirements and restrictions of zoning, building and other Laws, rules and regulations ; ( vi ) statutoryliens of landlords for amounts not yet due and payable ; ( vii ) licenses of Intellectual Property granted in the ordinarycourse of business consistent with past practice ; ( viii ) liens arising under conditional sales contracts and equipmentleases with third parties entered into in the ordinary course of business ; ( ix ) Encumbrances which are not reasonablylikely to materially impair the continued use of the asset or property to which they relate, as used on the date hereof, orvalue thereof ; ( x ) any state of facts which a current survey or inspection of the Owned Real Property would show(provided that such state of facts would not materially interfere with the conduct of the Companies ’ business as it ispresently conducted at such Owned Real Property and would not materially adversely affect the value thereof ) ; and ( xi)Encumbrances that are recorded in the real property records and affect title to any Owned Real Property ( provided thatsuch Encumbrances do not materially interfere with the conduct of the business of the Companies or their Subsidiariesas it is currently conducted at such Owned Real Property and would not materially adversely affect the value thereof )