definiens: means, as to any Person, without duplication, ( a ) all obligations of such Person for borrowed money, including accrued interest thereon ( including reimbursement and all other obligations with respect to surety bonds, lettersof credit and bankers ’ acceptances, whether or not matured ), ( b ) any Liability of such Person for overdrafts andoutstanding checks, ( c ) all obligations of such Person to pay the deferred purchase price of property or services, excepttrade accounts payable and accrued expenses arising in the Ordinary Course of Business, ( d ) all interest rate, commodity and currency swaps, caps, collars and similar agreements or hedging devices under which payments areobligated to be made by such Person, whether periodically or upon the happening of a contingency, ( e ) all indebtednesscreated or arising under any conditional sale or other title retention agreement with respect to property acquired by suchPerson ( even though the rights and remedies of the seller or lender under such agreement in the event of default arelimited to repossession or sale of such property ), ( f ) all obligations of such Person under leases which have been orshould be, in accordance with GAAP, recorded as capital leases, ( g ) all indebtedness secured by any Encumbrance onany property or asset owned or held by that Person regardless of whether the indebtedness secured thereby shall havebeen assumed by that Person or is non - recourse to the credit of that Person and ( h ) any contingent obligation of suchPerson