definiens: shall mean any ( i ) landlord ’s, mechanics ’, carriers ’, warehousemens ’, workmens ’ and other similar Encumbrance arising in the ordinary course of business and securing a Liab ility that is not yet overdue or that is overdue and is b eing contested in good faith by appropriate proceed ings ; ( ii ) Encumbrance for Taxes, assessment and other go vernmental charge securing a Liability that is not yet due and payable or that is due but not delinquent or th at is being contested in good faith by appropriate proceedings ; ( iii ) Encumbrance arising by operation of law on an insurance policy and proceeds thereof to secure pr emiums thereunder and that are not delinquent ; ( iv ) Encumb rance arising under worker ’s compensation, unemploy ment insurance, social security, retirement and similar legislation ; ( v ) Encumbrance arising under applicab le securities laws ; and ( vi ) Encumbrance arising solely by action of Purchaser