definiens: shall mean : ( a ) liens for Taxes that are not yet due and payable or that arebeing contested in good faith through proper proceedings and for which adequate reserves have been made on the Company FinancialStatements in accordance with Swiss GAAP ; ( b ) liens imposed by law and incurred in the ordinary course of business for obligations not yetdue and payable ; ( c ) minor liens that have arisen in the ordinary course of business and that do not ( in any case or in the aggregate)materially detract from the value of the assets subject thereto or materially impair the operations of the Company ; ( d ) non - exclusive licensesto Company IP Rights granted in the ordinary course of business for end use of the Company Products ; ( e ) liens of landlords and liens ofcarriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due andpayable ; zoning, entitlement, building and other land use regulations imposed by Governmental Bodies having jurisdiction over the leasedreal property ; and ( f ) covenants, conditions, restrictions, easements and other similar matters of record affecting title to the leased propertywhich do not materially impair the occupancy or use of thereof for the purpose for which it is currently used in connection with the applicablebusiness