definiens: means ( i ) all indebtedness or other obligations of Ibis for borrowedmoney, whether current, short - term or long - term, secured or unsecured, and all accrued interest, premiums, penaltiesand other obligations relating thereto, ( ii ) all indebtedness of Ibis for the deferred purchase price of property orservices which is not evidenced by accounts payable incurred in the ordinary course of business, ( iii ) all existinglease obligations of Ibis under leases which are capital leases in accordance with GAAP, ( iv ) any liability of Ibis underdeferred compensation plans, phantom stock plans, severance or bonus plans, or any change in control or similarpayment or increased cost which is triggered or made or will be made payable by Ibis as a result of the transactionscontemplated hereby, other than the Bonus Arrangement, ( v ) any off balance sheet financing of Ibis, ( vi ) any paymentobligations of Ibis in respect of banker ’s acceptances or letters of credit, ( vii ) any liability of Ibis with respect tointerest rate swaps, collars, caps and similar hedging obligations, ( viii ) all obligations of Ibis arising under or withrespect to any conditional sale or other title retention agreement with respect to property acquired by Ibis, ( ix ) pastdue or deferred rent of Ibis, ( x ) the amount of accounts payable owed by Ibis to any Person that have not been paidwithin 45 days of the date of invoice thereof ( xi ) all but checks of Ibis outstanding as of the Closing,(xii ) any indebtedness referred to above of any Person which is either guaranteed by, or secured by a security interestupon any property owned by, Ibis and ( xiii ) accrued and unpaid interest of, and prepayment premiums, penalties orsimilar contractual charges arising as a result of the discharge of any such foregoing obligation