definiens: shall mean ( i ) all Liens approved in writing by a Purchaser as Permitted Lie ns, ( ii ) Liens, including minor title defects or irregularities aff ecting the Purchased Assets, that, individually and in the aggregate, do not and would not reasonably be expected to mate rially detract from the value or impair the use of the property subject thereto or make such property unmarketable, ( iii ) Liens for Taxes not yet due, payable, delinq uent or subject to penalties for non - payment, or which are being contested in good faith in the ordinary cours e of business by appropriate proceedings and ( iv ) mechanics ', mat erialmen 's, carriers ', workmen 's, warehousemen 's, repairmen 's, landlords ' or other like Liens and sec urity obligations that are incurred in the ordinary course of business and are not delinquent