definiens: means, with respect to any Person, all monetary obligations of such Person and its Subsidiaries under any leasing or si milar arrangement which have been ( or, in accordanc e with GAAP, should be ) classified as capitalized leases, and for purposes of each Loan Document the amount o f such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the state d maturity thereof shall be the date of the last paym ent of rent or any other amount due under such leas e prior to the first date upon which such lease may be termina ted by the lessee without payment of a premium or a penalty ; provided, however, that all obligations of any Pers on that are or would have been treated as operating leases ( including for avoidance of doubt, any network leas e or any operating indefeasible right of use ) for p urposes of GAAP prior to the issuance by the Financial Account ing Standards Board on February 25, 2016 of an Accounting Standards Update ( the ) shall conti nue to be accounted for as operating leases for pur poses of all financial definitions and calculations under th is Agreement ( whether or not such operating lease o bligations were in effect on such date ) notwithstanding the fa ct that such obligations are required in accordance with the ASU ( on a prospective or retroactive basis or other wise ) to be treated as Capitalized Lease Liabilitie s in the financial statements to be delivered pursuant to Se ction 7.01